AB 903

This bill creates a Wisconsin Promise Program, administered by the Higher

Educational Aids Board (HEAB), to provide grants to eligible students to cover

tuition and other fees (tuition), along with housing and textbook costs as calculated

by HEAB using a median per-student figure (other educational expenses), at any

University of Wisconsin System institution or college campus, any technical college,

or any tribal college in this state (collectively "public institution"). In general, a

student is eligible for a grant under the program if the student: 1) is a resident

enrolled at least half-time in a public institution; 2) has completed counseling

explaining the program; and 3) signs an agreement that includes a promise to

graduate with a cumulative grade point average of at least 3.0 and a promise to be

continuously employed, subject to certain grace periods, within this state for at least

three years after graduation. The grant amount is the amount of the student's

tuition and other educational expenses after other financial aid in the form of grants

and scholarships has been applied, based on the tuition and expenses level in the

student's first year of enrollment and extended for the greater of four semesters or

60 credits. However, with an exception, if a student who receives a grant fails to

comply with the terms of the agreement described in item 3), above, the grant

converts to a loan that must be repaid at an annual interest rate of 5 percent. HEAB

must, by rule, provide for a hardship exception under which the student may obtain

a waiver under which the grant is not converted to a loan as a result of the student's

failure to comply with the terms of the agreement. HEAB must specify standards

for the determination of hardship and a process for seeking a waiver from HEAB.