261.95 - AMOUNT OF GRANT.
261.95 AMOUNT OF GRANT.
1. The amount of a grant to a qualified full-time student for an
academic year shall be the lesser of the student's financial need for
that period or up to one thousand dollars.
2. The amount of a grant to a qualified part-time student
enrolled in a course of study shall be equal to the average amount of
a grant to a full-time student times a number which represents
twenty-four semester hours, or the trimester or quarter equivalent,
divided by the number of hours in which the part-time student is
actually enrolled.
3. A grant may be made annually for both the fall and spring
semesters or the trimester equivalent. Payments under the grant
shall be allocated equally among the semesters or trimesters and
shall be paid at the beginning of each semester or trimester, upon
certification by the accredited higher education institution that the
student is admitted and in attendance. If the student discontinues
attendance before the end of the semester or trimester after
receiving payment under the grant, the entire amount of any refund
due that student, up to the amount of any payments made under the
annual grant, shall be paid by the accredited higher education
institution to the state.
4. If a student receives financial aid under any other program
except a federal, state, or institutional work-study program, the
full amount of the other financial aid shall be considered part of
the student's financial resources available in determining the amount
of the student's financial need for that period. In no case may the
total financial aid for the student's education, including financial
aid under any other state program, exceed the student's financial
need at the institution which the student attends. Section History: Recent Form
90 Acts, ch 1272, §62