Georgia’s legislature approved a $325 million need‑based DREAMS scholarship to replace, in part, the state’s long‑standing merit HOPE program, signaling a major policy shift toward financial‑need targeting to retain students in‑state. The new program aims to incentivize enrolment and degree completion by students who might otherwise leave the state or forgo college. At the same time, state lawmakers across multiple jurisdictions have moved to protect minority‑serving institutions (MSIs) after the Education Department cut federal funding for MSIs last fall. Proposals include statutory recognition and targeted state appropriations to sustain programs and student supports previously backed by federal grants. The twin moves illustrate a broader dynamic: states are reallocating resources and policy levers to stabilize access and campus revenue as federal support becomes uncertain. The shifts will reshape institutional finance, recruitment incentives, and equity strategies at public and private colleges that serve high proportions of low‑income and racially minoritized students.