261.103 - PROGRAM QUALIFICATIONS.
261.103 PROGRAM QUALIFICATIONS.
1. A grant under the program may be awarded to any minority
person who is a resident of Iowa, who is accepted for admission or is
attending a board of regents' university, community college, or an
accredited private institution, and who demonstrates financial need.
Applicants who receive vouchers under section 262.92 shall be given
priority in receiving grants under the program, but an applicant
shall not be denied a grant because the applicant does not hold
vouchers under the program in section 262.92. For the fiscal year
commencing July 1, 1990, and in subsequent years, grants shall be
awarded to all minority persons, with priority to be given to those
minority persons who are residents of Iowa.
2. Full-time students may receive grants for not more than eight
semesters of undergraduate study or the trimester or quarter
equivalent of eight semesters of undergraduate study. Part-time
students may receive grants for not more than sixteen semesters of
undergraduate study or the trimester or quarter equivalent of sixteen
semesters of undergraduate study.
3. The amount of the grant shall not exceed a student's yearly
financial need or three thousand five hundred dollars, whichever is
less. If the student is attending or seeking to enroll in an
accredited private institution, fifty percent of the amount of the
grant shall be provided by the accredited private institution and
fifty percent shall be provided by the commission from state funds
appropriated for that purpose.
4. Grants shall be awarded on an annual basis and shall be
credited by the institution against the student's tuition, fees,
room, and board, at the beginning of each semester, trimester, or
quarter in equal installments upon certification by the institution
that the student is admitted and attending the institution.
5. If a student receiving a grant under the program discontinues
attendance before the end of any academic period, but after receiving
payment of grant moneys for the academic period, the entire amount of
any refund due the student, up to the amount of any payments made by
the state, shall be remitted by the private institution to the
commission. Section History: Recent Form
89 Acts, ch 319, § 55; 89 Acts, ch 322, § 8; 90 Acts, ch 1253, §
16
Referred to in § 262.93