House Bill 194 mandates that by December 31, 2025, the executive director of the Tennessee higher education commission must provide a comprehensive report to key state officials, including the governor and the chairs of the relevant education committees in both the Senate and House. This report will evaluate the use of required discounts and waivers for tuition and fees at public higher education institutions, as well as assess state financial support and student academic outcomes related to these discounts.

The bill emphasizes the importance of understanding the impact of financial aid mechanisms on student success and institutional funding. It is designed to ensure that state resources are effectively utilized to support higher education and improve academic outcomes for students. The act will take effect immediately upon becoming law, highlighting its urgency in addressing educational financial policies.