ACROSS MISSISSIPPI — Recipients of state scholarships could see their aid packages trimmed unless the Mississippi Legislature puts more money into financial aid.
That includes the more than 20,000 residents who receive yearly grants of $500 or $1,000.
Higher Education Commissioner Hank Bounds says officials have been using money collected from state student loan repayments to supplement scholarship funds since financial aid was cut several years ago. Bounds says that nest egg is being rapidly depleted.
College Board projections show that, under the amount recommended by Gov. Phil Bryant, the financial aid fund would be almost 14 percent short of its projected needs in the budget year beginning July 1. Without more money, Bounds tells lawmakers the board would implement across-the-board cuts, lopping off an equal percentage of all awards.
BEFORE YOU GO…
… we’d like to ask for your support. More people are reading the Mississippi Business Journal than ever before, but advertising revenues for all conventional media are falling fast. Unlike many, we do not use a pay wall, because we want to continue providing Mississippi’s most comprehensive business news each and every day. But that takes time, money and hard work. We do it because it is important to us … and equally important to you, if you value the flow of trustworthy news and information which have always kept America strong and free for more than 200 years.
If those who read our content will help fund it, we can continue to bring you the very best in news and information. Please consider joining us as a valued member, or if you prefer, make a one-time contribution.Click for more info