Iowa Admin. Code r. 283-11.4 - Awarding of funds
(1)
Selection criteria. All eligible applicants will be considered
for an award.
(2)
Maximum
award and extent of award. Eligible applicants may receive no more
than the equivalent of four full-time awards.
a. The maximum award for full-time students
will not exceed the student's financial need and will be the lesser of:
(1) $3,000 per semester, or the equivalent,
during the fall, spring and summer semesters.
(2) The award established by the commission
that allows all eligible applicants to receive an award.
b. When awarded in combination with other
tuition-restricted funds, the total amount of tuition-restricted funding
including an Iowa tuition grant cannot exceed the total tuition and mandatory
fees charged to the recipient.
c. A
part-time student will receive a prorated award, as defined by the commission,
which is calculated by dividing the number of hours for which the student is
enrolled by the required number of hours for full-time enrollment and
multiplying the quotient by the maximum award.
(3)
Awarding process.
a. The commission will provide notice of the
eligibility criteria and maximum award to participating eligible institutions
annually to authorize awarding.
b.
The commission will designate eligible applicants for awards and provide
eligible institutions with rosters of designated eligible applicants.
c. Eligible institutions will notify
recipients of the awards, clearly indicating the award amount and the state
program from which funding is being provided and stating that the award is
contingent on the availability of state funds.
d. Eligible institutions will apply awards
directly to student accounts to cover tuition and mandatory fees.
e. Eligible institutions will provide
information about eligible applicants to the commission in a format specified
by the commission. Eligible institutions will make necessary changes to awards
due to a change in enrollment or financial situation, and promptly report those
changes to the commission.
f.
Eligible institutions are responsible for completing necessary verification and
for coordinating other aid to ensure compliance with student eligibility
requirements and allowable award amounts. Eligible institutions will report
changes in student eligibility to the commission.
Notes
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