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.
Twang & Tourism: The Country Music Trail
Still planning that summer vacation?
FOLLOW THE MBJ ON TWITTERMy Tweets
Top Posts & Pages
- Seafood R’evolution set to make Mississippi ‘the new culinary epicenter of the South’
- Yarber could be sworn in today as new Jackson mayor
- After review, MSU moves forward on new research facility
- Ole Miss launches commitment to be 'climate neutral'
- Pharma Pac lays off rest of workers; could end up owing state
- SpaceX, Stennis officially open new rocket test stand
- Acco Brands investing $1.6M, adding 162 workers
- Gulf LNG terminal mulling export opportunities
- Secretary of State's Office transitioning to new location