SB 397 - This act establishes the Missouri College Guarantee Program.

FUNDING: Beginning July 1, 2000, all of the unencumbered revenues deposited in the Gaming Commission Fund, beyond those for funding costs of the Gaming Commission with respect to gambling boats and the five hundred thousand dollars transferred for programs for the homeless and for gang-related crimes under section 313.835, RSMo, shall be placed in the Missouri College Guarantee Fund, created by this act. Moneys placed in the fund shall be used to provide Missouri College Guarantee Scholarships.

The scholarships shall begin in the Fall 2000 school term. Any part of these funds may also be appropriated each year to fund Graduate Bright Flight scholarships in areas of need under section 173.727, RSMo. Upon a recommendation by the Coordinating Board for Higher Education, some of the funds may be given as grants to institutions which apply and demonstrate how the institution will provide a mentoring program to ensure that scholarship recipients who are at risk have a positive educational experience.

QUALIFICATIONS FOR SCHOLARSHIP RECIPIENTS: To receive a scholarship, an applicant shall satisfy the following requirements:

1) Financial need test using the standards for the Missouri Student Grants Program,

2) GPA of 2.5 or higher on high school core curriculum,

3) High school curriculum must be college or technical preparatory,

4) Minimum ACT test score of 20 or SAT composite of 950,

5) No criminal record,

6) Participation in extracurricular activities,

7) Enrollment and acceptance within two years of graduation,

8) Maintain satisfactory progress (to maintain scholarship).

SCHOLARSHIP TERMS: The scholarships may be used at public or private institutions in Missouri. The amount of the scholarship shall be for tuition, books and materials, but the maximum amount of the scholarship shall be equal to the cost of tuition, books and materials for attending the largest enrollment campus of the University of Missouri if a more expensive school. The scholarship shall and shall be reduced by the amount of other federal and state scholarship funds received by the student which can be used for the same purposes.

OTTO FAJEN