Scholarships and Financial Aid - As enacted, makes various changes to the "Tennessee Future Teacher Scholarship Act of 2023." - Amends TCA Title 49, Chapter 4, Part 7.

HB 504 amends Tennessee's Future Teacher Scholarship Act to support aspiring educators. It establishes a $5,000 annual scholarship for students enrolled in approved teacher preparation programs who agree to teach in Tennessee public schools for two consecutive years in high-need areas. The bill updates eligibility requirements (including residency and enrollment rules), requires a promissory note for the teaching commitment, and mandates repayment of half the scholarship amount per year if the teaching obligation isn't met. The program runs as a pilot from 2023 through 2030, with mandated evaluations to assess its effectiveness in increasing licensed teachers.