Nev. Admin. Code § 353B.205 - Provision of benefits: Annual determination of amount; formula for conversion to semester credit hours; payment directly to eligible educational institution
1. The Board will
annually determine the amount of benefits to be paid to an eligible educational
institution for a qualified beneficiary pursuant to a contract based upon the
tuition charged per semester credit hour at the state universities, state
colleges and state community colleges.
2. If an eligible educational institution
charges students using a method other than semester credit hours, the Board
will convert that method into semester credit hours to determine the number of
semester credit hours that are eligible for the payment of benefits under the
contract in the following manner:
(a) For an
institution that enrolls students in a semester or tri-semester program based
upon clock hours, by dividing the total clock hours in the program by
30.
(b) For an institution that
enrolls students in a quarter-hour program based upon clock hours, by dividing
the total number of clock hours in the program by 20.
3. The payment of benefits pursuant to the
contract must be remitted directly to the eligible educational institution in
which the qualified beneficiary is enrolled.
Notes
NRS 353B.090
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