Utah Admin. Code R765-609-8 - Amount of Awards and Distribution of Award Funds
8.1. Funding Constraints of Awards: The Board
may limit or reduce the Base award and/or the Exemplary Academic Achievement
award, as well as supplemental awards granted, depending on the annual
legislative appropriations and the number of qualified applicants.
8.2. Amount of Awards.
8.2.1. Base Award: The Base award of up to
$1,000 may be adjusted annually by the Board in an amount up to the average
percentage tuition increase approved by the Board for USHE institutions.
8.2.2. Exemplary Academic
Achievement Award: The Exemplary Academic Achievement award is up to the amount
provided by law and as determined each spring by the Board based on legislative
funding and the number of applicants. The Exemplary Academic Achievement award
may be renewed for the shortest of the following:
8.2.2.1. Four semesters of enrollment in
fifteen credit hours;
8.2.2.2.
Sixty-five credit hours; or
8.2.2.3. Until the student meets the
requirements for a baccalaureate degree.
8.2.3. UESP Supplemental Award to Encourage
College Savings: Subject to available funding, an applicant who qualifies for
the Base award is eligible to receive up to an additional $400 in state funds
to be added to the total scholarship award.
8.2.3.1. For each year the applicant is 14,
15, 16, or 17 years of age and had an active UESP account, the Board may
contribute, subject to available funding, $100 (i.e., up to $400 total for all
four years) to the recipient's award if at least $100 was deposited into the
account for which the applicant is named the beneficiary.
8.2.3.2. If no contributions are made to an
applicant's account during a given year, the matching amount will likewise be
$0.
8.2.3.3. If contributions
total more than $100 in a given year, the matching amount will cap at $100 for
that year.
8.2.3.4. Matching funds
apply only to contributions, not to transfers, earnings, or interest.
8.3.
Distribution of Award Funds.
8.3.1. Award
Payable to Institution: The award will be made payable to the institution. The
institution may pay over to the recipient any excess award funds not required
for tuition payments. Award funds shall be used for any qualifying higher
education expense including: tuition, fees, books, supplies, equipment required
for course instruction, or housing.
8.3.2. Credit Hours Dropped After Award
Payment: If a recipient drops credit hours after having received the award
which results in enrollment below fifteen credit hours, the scholarship will be
revoked.
Notes
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