Education - As enacted, requires the Tennessee higher education commission (THEC), to serve as the governing board of directors for the Tennessee student assistance corporation; requires THEC's review committee to aid in the development or revision of state financial aid; terminates the Tennessee teaching scholars program; terminates the minority teaching fellows program. - Amends TCA Title 4 and Title 49.

HB 408 redesignates the Tennessee Higher Education Commission (THEC) as the governing board for the Tennessee Student Assistance Corporation (TSAC), replacing its previous structure. It requires THEC's review committee to assist in developing or revising state financial aid programs, directly affecting how student aid policies are shaped. The bill terminates two existing programs: the Tennessee Teaching Scholars program and the Minority Teaching Fellows program, ending their funding and operations. These changes will take effect on July 1, 2025, shifting oversight of student financial aid and eliminating specific teacher training initiatives.