261.12 - AMOUNT OF GRANT.
261.12 AMOUNT OF GRANT.
1. The amount of a tuition grant to a qualified full-time student
for the fall and spring semesters, or the trimester equivalent, shall
be the amount of the student's financial need for that period.
However, a tuition grant shall not exceed the lesser of:
a. The total tuition and mandatory fees for that student for
two semesters or the trimester or quarter equivalent, less the base
amount determined annually by the college student aid commission,
which base amount shall be within ten dollars of the average tuition
for two semesters or the trimester equivalent of undergraduate study
at the state universities under the board of regents, but in any
event the base amount shall not be less than four hundred dollars; or
b. For the fiscal year beginning July 1, 2000, and for each
following fiscal year, four thousand dollars.
2. The amount of a tuition grant to a qualified full-time student
for the summer semester or trimester equivalent shall be one-half the
amount of the tuition grant the student receives under subsection 1.
3. The amount of a tuition grant to a qualified part-time student
enrolled in a course of study including at least three semester hours
but fewer than twelve semester hours for the fall, spring, and summer
semesters, or the trimester or quarter equivalent, shall be equal to
the amount of a tuition grant that would be paid to a full-time
student times a number which represents the number of hours in which
the part-time student is actually enrolled divided by twelve semester
hours, or the trimester or quarter equivalent. Section History: Early Form
[C71, 73, 75, 77, 79, 81, § 261.12] Section History: Recent Form
83 Acts, ch 197, § 13; 84 Acts, ch 1302, § 16; 85 Acts, ch 263, §
16; 88 Acts, ch 1284, § 27; 89 Acts, ch 300, § 3; 89 Acts, ch 319, §
43; 90 Acts, ch 1253, § 122; 90 Acts, ch 1272, § 49; 91 Acts, ch 10,
§1; 91 Acts, ch 258, §39; 95 Acts, ch 218, § 21; 96 Acts, ch 1215, §
36; 96 Acts, ch 1219, § 4, 5; 97 Acts, ch 212, §25; 98 Acts, ch 1215,
§33; 99 Acts, ch 205, §28; 2000 Acts, ch 1223, §26