“This marks the first needs-based education grant of its kind in Georgia, and Chairman Martin deserves a great deal of credit for making a higher education degree just that much more affordable and attainable here in our state,” Kemp said in a statement.
Students who have completed at least 80% of the credit requirements toward their degree or certificates would be eligible for the aid. Students must also fill out the Free Application for Federal Student Aid (FAFSA) to be eligible for the funds.
The legislation will take effect on July 1.
Administrators at several Georgia colleges and universities say many students close to completing their coursework drop out each year because they cannot pay a relatively small portion of their tuition.
The Georgia Student Finance Commission will monitor and evaluate the program.