§ 37-106-1. Short title
This chapter shall be cited as the “Post-Secondary Education Financial Assistance Law of 1975.”
§ 37-106-11. Post-secondary education financial assistance board; compensation; powers; annual report
The members of the board shall serve without pay. The board is hereby vested with full and complete authority and power to sue in its own name any person for any balance, including principal, interest and reasonable collection costs or attorney’s fees, due and owing the state on any uncompleted contract. The board shall promulgate […]
§ 37-106-12. Postsecondary Education Financial Assistance Trust Fund created; components of fund; investment of principal
There is hereby created in the State Treasury a special trust fund to be known as the Postsecondary Education Financial Assistance Trust Fund. The trust fund shall consist of all monies designated by the Legislature for deposit therein and any gift, donation, bequest, trust, grant, endowment, transfer of money or securities, or any other monies […]
§ 37-106-14. Use of funds appropriated for implementing forgivable loan programs
The Legislature may appropriate funds annually to implement, administer and make awards under the programs provided for in this chapter. The board may seek, accept and expend funds from any source, including private business, industry, foundations and other groups as well as any federal or other governmental funding available for this purpose. Subject to the […]
§ 37-106-15. Administration of chapter
The earned interest paid into the post-secondary education assistance fund as provided in Section 37-106-13 shall be utilized to finance the cost of administration of this chapter. All remaining interest after payment of such administrative expenses shall be utilized to provide additional loans.
§ 37-106-17. Applications for assistance
Any student desiring financial assistance shall submit an application to the board on an annual basis. The director shall adhere to the board’s rules and regulations promulgated under authority of this chapter in determining the eligibility of each applicant and in administering the programs authorized in this chapter.
§ 37-106-19. Contract for repayment to be signed by applicant
Each eligible applicant before being granted financial assistance through a forgivable loan program under this chapter shall enter into a contract with the board, which shall be deemed a contract with the State of Mississippi, agreeing to the terms and conditions upon which the financial assistance shall be granted to him, which shall include full […]
§ 37-106-21. Conditions and limitations on disbursal of funds
Unless otherwise required to secure a guarantee of a loan, all funds disbursed under the provisions hereof shall be subject to the following conditions and limitations: The annual award to any recipient may be paid as required by federal laws and regulations governing the Guaranteed Student Loan Program. Payments under this chapter shall be made […]
§ 37-106-23. Funds to implement federal guaranteed student loan program
The board shall use the funds available to make possible the implementation of a guaranteed student loan program as provided for by any act of congress.
§ 37-106-27. Cooperation with Student Loan Marketing Association
The board shall have full authority to deal with the Student Loan Marketing Association (Sallie Mae) and to participate in any and all of its programs, including investment in its stock, and to deal with and to participate in any programs of any other secondary market for student loans.
§ 37-106-29. Mississippi Resident Tuition Assistance Grant Program for college or university undergraduate students
There is established the Mississippi Resident Tuition Assistance Grant Program for college or university freshmen, sophomores, juniors and seniors to be administered by the Mississippi Postsecondary Education Financial Assistance Board established under Section 37-106-9, Mississippi Code of 1972, which shall set the dates and deadlines for applying for an award under this section. The board […]
§ 37-106-3. Declaration of purpose
The Legislature hereby finds and declares that: By legislative enactment, programs are herein created wherein Mississippi residents are granted forgivable loans in certain professional fields in return for their contractual obligation to perform services in such professions under a variety of requirements of location, duration, manner and mode of service, and institution in which performed; […]
§ 37-106-31. Mississippi Eminent Scholars Grant Program
There is created a Mississippi Eminent Scholars Grant Program, to be administered by the Mississippi Postsecondary Education Financial Assistance Board established under Section 37-106-9. The board shall set the dates that will serve as the deadlines for applying for an award under this section and award scholarships to each Mississippi student who: Is recognized by […]
§ 37-106-35. Assistant teacher forgivable loan program
There is established the assistant teacher forgivable loan program for the purpose of assisting eligible assistant teachers to become certificated teachers through the awarding of forgivable loans and to attract and retain qualified teachers for those geographical areas of the state and academic subject areas in which there exist a critical shortage of teachers. The […]
§ 37-106-37. Teacher Education Scholars Forgivable Loan Program
There is created the Teacher Education Scholars Forgivable Loan Program to be administered by the board. The program shall provide an annual forgivable loan not to exceed Fifteen Thousand Dollars ($15,000.00) for each approved teacher education scholar who is enrolled in one of Mississippi’s public or private universities in the junior year and is admitted […]
§ 37-106-39. Mississippi Law Enforcement Officers and Firefighters Scholarship
There is established the Mississippi Law Enforcement Officers and Firefighters Scholarship. Except as provided in this section, if any Mississippi law enforcement officer, full-time firefighter or volunteer firefighter shall suffer or has suffered fatal injuries or wounds or become permanently and totally disabled as a result of injuries or wounds which occurred in the performance […]
§ 37-106-41. Scholarships for children of prisoners of war or missing in action in Southeast Asia
If any member of the armed services, whose official house of record and residence is within the State of Mississippi, is officially reported as being either a prisoner of war or missing in action in Southeast Asia or has been a prisoner of a foreign government as the result of a military action against the […]
§ 37-106-43. Mississippi Public Management Graduate Intern Program
There is hereby established an intern educational program to be designated as the Mississippi Public Management Graduate Intern Program to be administered by the board through a program coordinator. The program shall consist of not more than thirty-six (36) positions in the general fields of public management, program analysis and public administration. These positions shall […]
§ 37-106-47. Authorization to operate forgivable loan programs
The board is authorized and empowered to operate the following forgivable loan programs of like character, operation and purpose to the foregoing enumerated programs to encourage the participation of eligible worthy persons in courses of instruction in its institutions: Graduate Teacher Forgivable Loan, Counselor and School Administrator Forgivable Loan, Southern Regional Education Board Doctoral Scholars […]
§ 37-106-49. Authorization to employ loan repayment mechanism for the repayment of forgivable loans
In connection with the forgivable loan programs administered by the board, and in addition to the funding of the same through the use of state funds, the board is authorized to establish a loan repayment mechanism employing agreements to repay private sector loans for education or guaranteed student loans. As an alternative to the forgivable […]