DREAMS Scholarship becomes a reality in Georgia

Georgia Gov. Brian P. Kemp signed the state’s amended FY2026 budget last week, which included $325 million to establish the DREAMS Scholarship program – the first need-based scholarship of its kind in the state’s history.

“The DREAMS Scholarship will build on the incredible, unmatched legacy of the HOPE Scholarship and leave no stone unturned when it comes to student achievement in our state,” Kemp said. “From now on, throughout the country, Americans will know that HOPE and DREAMS are alive and well in Georgia.”

As budgeted, $300 million will be used to establish the DREAMS Scholarship endowment, which the Georgia Student Finance Commission will administer. An additional $25 million in expendable scholarship funds will be available in Fall 2026 as part of the program. This unprecedented initiative will also complement the Georgia MATCH program, which the state launched in 2023, Kemp said.

More than half of college students report they would struggle to find $500 in an emergency, and data from the National Institute for Student Success show students who do not have to take time off from college for financial setbacks are three-and-a-half-times more likely to graduate.

The DREAMS Scholarship is designed to close those gaps and make higher education accessible to more Georgians, said University System of Georgia Chancellor Sonny Perdue.

“Gov. Brian Kemp has taken a historic step to expand access, strengthen the workforce and support families in every region with an investment that reflects a bold vision for the state’s future and a deep belief in what Georgia students can achieve,” Perdue said. “The amended FY2026 budget is a strong win for USG overall and reinforces the essential role our institutions play in meeting the state’s workforce and economic needs.”

“With the support of Speaker Jon Burns, Lt. Gov. Burt Jones and their legislative colleagues, more students will have the chance to finish their degrees, contribute to their communities and build prosperity across Georgia,” Perdue added. “We’re grateful for the continued support of state leaders and our entire General Assembly and are proud to help carry this effort forward.”

The new scholarship will be particularly impactful at Augusta University.

Approximately 42% of Augusta University undergraduates qualify for a Federal Pell Grant. These grants support students with significant financial need and help cover college expenses without requiring repayment, provided students maintain academic progress and meet other federal requirements.

“At Augusta University, we pride ourselves on being a student-centered research university committed to student success, and initiatives like the DREAMS Scholarship ensure that even more students can access the life-changing opportunities that a college degree provides,” said Augusta University President Russell T. Keen. “The support we have received from the Governor, members of the Georgia General Assembly, the Chancellor, and the Georgia Board of Regents is invaluable. Leaders like these are helping shape a bright future for Georgia by strengthening pathways to workforce readiness.”

For Augusta University students who rely on financial aid to pursue their degrees, the DREAMS Scholarship also represents another resource aimed at reducing barriers to enrollment and completion.

In FY 2025, Augusta University awarded $64,227,435 in scholarships, grants, and loans to undergraduate students. Nearly 53% of those students received the HOPE or Zell Miller grants. Students can expect to receive information about the DREAMS Scholarship from the Georgia Student Finance Commission and Augusta University Office of Financial Aid soon.