Establishing uniform interest rate provisions for service scholarship programs administered by the Kansas board of regents, authorizing the board of regents to recover the costs of collecting such repayment and charge fees for administration costs, requiring eligible students to enter into agreements with the board of regents as a condition to receiving a grant under the adult learner grant act and sunsetting the low-income family postsecondary savings accounts incentive program in 2028 and reducing the number of audits required for such program.

SB 50 establishes a uniform 5% annual interest rate for repayment obligations on certain Kansas scholarship and grant programs, effective July 1, 2025. It allows the Kansas Board of Regents to recover collection costs (like court fees and attorney costs) and charge administrative fees for processing applications. The bill requires students receiving Adult Learner Grants to sign agreements directly with the Board of Regents instead of their educational institutions. Additionally, it sunsets the low-income family postsecondary savings program in 2028 and reduces the number of required audits for that program.