Modifies provisions governing certain postsecondary education financial assistance awards

HB 265 revises eligibility rules for Missouri's state-funded postsecondary education financial aid by redefining what qualifies as an "approved" institution. The bill requires virtual institutions to maintain a physical campus in Missouri and employ at least 25 full-time Missouri residents (with half being faculty or administrators), while updating accreditation standards and non-discrimination policies for all approved institutions. It replaces outdated definitions for private, public, and virtual institutions with these new criteria. This change directly affects educational institutions seeking state financial assistance awards by clarifying eligibility requirements.