OK SB414

Amends Oklahoma Tuition Equalization Grant eligibility requirements under 70 O.S. 201, Section 2632 to include specific private and independent not-for-profit colleges and universities within the state.

Eligible institutions must be domiciled in Oklahoma, meet approved program and accreditation standards, and be fully accredited by the Higher Learning Commission of the North Central Association or a nationally recognized accrediting body.

Grants of $2,000 per academic year or $1,000 per semester awarded to full-time undergraduate students from Oklahoma families earning no more than $50,000 annually, beginning with the 2003-2004 school year.

Eligible institutions specifically include Bacone College, Family of Faith College, Mid-America Christian University, Oklahoma Baptist University, Oklahoma Christian University, Oklahoma City University, Oklahoma Wesleyan University, Oral Roberts University, Southern Nazarene University, Southwestern Christian University, St. Gregory's University, University of Tulsa, and Hillsdale Free Will Baptist College.

Recipients limited to benefits within five years of first grant receipt and cannot receive grants for courses exceeding baccalaureate degree requirements; State Regents must submit annual reports on grant recipient outcomes including persistence rates and degree completion rates.