An act relating to the portability of Vermont Student Assistance Corporation grants and scholarships

This bill restricts Vermont Student Assistance Corporation grants and scholarships to students attending schools within Vermont, including the University of Vermont, Vermont State Colleges, and independent colleges. It requires the corporation to issue a written report detailing how much funding was used at out-of-state schools over the past five years. The legislation also establishes minimum award amounts for Vermont Honor Scholarships at $1,000 and allows for proration of grants based on enrollment status. Additionally, it creates a new advancement grant program for residents pursuing nondegree training opportunities at Vermont-based institutions. The bill takes effect on July 1, 2024, and directs the General Assembly to consider using the reported out-of-state funding amounts to support Vermont State Colleges.