Mississippi Administrative Code › Title 10 - Education Institutions and Agencies › Part 601 - Authority and Responsibilities Rules and Regulations › Chapter 2 - Mississippi Postsecondary Education Financial Assistance Board › Rule 10-601-2.2 - Purpose of the Mississippi Postsecondary Education Financial Assistance Board

Current through June 25, 2024
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.