TN HB0408

Tennessee Student Assistance Corporation (TSAC) governing board is terminated on July 1, 2025, with the Tennessee Higher Education Commission assuming governance and oversight of student assistance programs

Tennessee Teaching Scholars Program and Minority Teaching Fellows Program are both terminated on July 1, 2025, though TSAC will continue administering remaining outstanding loans from these programs

A review committee is established to aid in developing or revising the higher education master plan, state financial aid policies, and funding formula, required to meet at least annually

Review committee membership includes higher education leaders, state officials, and legislative committee chairs, with the Tennessee Independent Colleges and Universities Association president participating only on master plan and financial aid matters

Act takes effect July 1, 2025