S.B. No. 43 establishes the Texas Promise Grant Program, which is divided into two subchapters: one for Two-Year Programs and another for Four-Year Programs. The program aims to provide financial assistance for tuition and mandatory fees to eligible students pursuing associate degrees or certificates at public junior colleges, technical institutes, or state colleges, as well as those completing baccalaureate degree programs at institutions of higher education. The Texas Higher Education Coordinating Board will administer both programs, developing rules and awarding grants to eligible students. Eligibility criteria include Texas residency, recent high school graduation or equivalent, enrollment in an eligible program, and compliance with financial aid application requirements. The bill also specifies that individuals with felony convictions or certain drug offenses may be ineligible unless they meet specific conditions.

The grant amount will cover the difference between tuition and any other financial aid received, with a maximum of $1,000. For the baccalaureate program, applicants must have an annual household income of less than $150,000 and be enrolled for at least half of a full course load. The bill outlines provisions for students based on their household income, mandates that grants be applied first to tuition and mandatory fees, and establishes rules for maintaining eligibility, including satisfactory academic progress. The coordinating board is responsible for creating informational materials and ensuring that school districts notify students and parents about the program. The implementation of the grant program is set to begin in the 2026-2027 academic year.

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