10 Miss. Code. R. 601-2.2 - Purpose of the Mississippi Postsecondary Education Financial Assistance Board

The Purpose of the Mississippi Postsecondary Education Financial Assistance Board is as follows:

I. To make manifest the belief that the continued growth and development of Mississippi requires that all Mississippi youth be assured ample opportunity for the fullest development of their abilities and to recognize that this opportunity will not fully materialize unless the State of Mississippi moves to encourage and financially assist our young people in their efforts.

II. To operate the programs created by legislative enactment, 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.

III. To fashion new and innovative systems for the financing of forgivable loan programs by combining the use of private sector loans for education and guaranteed student loans with loan repayment programs promulgated by the board.

IV. To promote, strengthen, encourage and enhance high standards of performance in administration and operation of state scholarship, grant, and loan programs to the end that the benefits of these programs shall be available to students throughout the state for the purpose of expanding and furthering postsecondary educational opportunities.

V. To provide a forum for the development and exchange of information, ideas, policy positions, procedures and needs for student financial assistance for the benefit of universities, colleges, the legislature, and other agencies and organizations.

VI. To facilitate the development and exchange of information about state financial aid programs.

VII. To establish and act as a collective voice of reasoned opinion before the state legislature with respect to student financial aid programs whose objective is the furtherance of postsecondary education in Mississippi and to consider, debate, decide positions, make recommendations and otherwise act as an advising body on such matters as shall serve the objectives set forth herein this article.

VIII. To collaborate with institutions of higher learning and other state agencies in the interest of effective implementation of various federal, state and institutional student financial assistance programs.

IX. To work with other agencies to design, implement and operate simplified student application procedures for student financial assistance and design a uniform method of determining the financial need of an eligible student while attending an approved institution which cannot reasonably be met by said student, or by the parents.

X. To conduct research, publish reports, hold conferences and otherwise engage in activities which:

(1) help existing programs to become more responsive to federal, regional and state public policy goals and objectives;

(2) encourage the development of new programs as the need arises;

(3) work toward the prevention and elimination of fraud and abuse in student financial aid programs; and

(4) enable the Postsecondary Board to accomplish the objectives set forth herein.

Notes

10 Miss. Code. R. 601-2.2

Miss. Code Ann. § 37-106-3.

Adopted 5/28/2015 Amended 9/26/2015 Amended 12/9/2016 Amended 7/5/2017 Amended 7/2/2018