SB 1031

This bill creates an undergraduate assistance grant program administered by the Higher Educational Aids Board. Under the bill, a student is eligible for a grant under the program if the student 1) is enrolled in an undergraduate program at a private nonprofit postsecondary institution headquartered in this state; 2) is a resident of this state; 3) has completed the federal Free Application for Federal Student Aid and does not qualify for a federal Pell grant; and 4) has a household income of less than $60,000. The bill provides $2,500,000 annually in funding for HEAB to award grants to eligible students for up to 10 semesters.