Bounds: State’s college scholarship funding ‘being rapidly depleted’
Published: February 6,2012
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.
To sign up for Mississippi Business Daily Updates, click here.
Top Posts & Pages
- Jackson’s Landmark Center slated for mixed-use conversion
- ANITA MODAK-TRURAN — Mississippi’s motion picture renaissance
- WRESTLING SUCCESS — Ted DiBiase Jr. leaves ring to become entrepreneur
- Race to the pump: Feds appear ready to beat state on new gas taxes
- Senate transportation chair seeks emergency money for roads, bridges
- Nehi Bottling Company has been a Cleveland fixture for 85 years
- Challenging times ahead for Pearl’s manufactured home residents, apartment complex owners
- Irby commits suicide after wife's prison release
- 3 dozen groups OK'd for Miss. specialty car tags