MS SB2008

Appropriates $47,255,243 from the State General Fund and authorizes $10,983,837 from federal funds, grants, donations, and other sources to the Board of Trustees of State Institutions of Higher Learning for financial aid scholarship, loan, and grant programs for fiscal year 2026.

Suspends new enrollments in six specific loan and grant programs (Southeast Asia POW/MIA Grant, Public Management Graduate Internship, State Medical Education Loan, State Dental Education Loan, Graduate and Professional Degree Forgivable Loan, Health Care Professions Forgivable Loan, and Family Protection Specialist Social Worker Forgivable Loan) for students applying after July 1, 2025.

Allocates $70,000 for the Speech-Language Pathologists Loan Forgiveness Program and $3,000,000 from the Education Enhancement Fund for the FAITH Scholarship Program and Teacher Loan Repayment Program.

Requires annual reporting to the Legislature detailing number of recipients, total awards, average award amounts, and repayment status for all programs; prohibits institutions from issuing transcripts to students with outstanding loan repayments.

Establishes income eligibility thresholds for the Higher Education Legislative Plan Grant Program and directs that students receive undergraduate grant aid from only one state-supported program per term, prioritizing the program offering the larger award.