The bill proposes the establishment of the Texas Promise Grant Program, aimed at providing financial assistance to eligible students attending two-year public institutions of higher education. It introduces a new subchapter in the Education Code, defining key terms such as "eligible institution," which includes public junior colleges, technical institutes, and state colleges. The program's purpose is to assist with tuition and mandatory fees while incentivizing students to complete their associate degrees or certificate programs. The Texas Higher Education Coordinating Board is tasked with administering the program, developing necessary rules, and awarding grants and incentive bonuses to eligible students.

To qualify for the grant, students must meet specific criteria, including residency, recent high school graduation, enrollment in an eligible program, and compliance with financial aid application requirements. The bill outlines the conditions for initial and continuing eligibility, including academic performance standards and limits on the number of credit hours for which grants can be awarded. Additionally, it mandates that grants be applied first to tuition and fees, with a maximum grant amount set at either the difference between tuition and other aid or $1,000. The program also includes an incentive bonus of $1,000 for students who complete their programs. The Texas Higher Education Coordinating Board is required to prepare and distribute informational materials about the program to prospective students and their families.

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