23-38.47 - Criteria for making grants.
§ 23-38.47. Criteria for making grants.
All grants made pursuant to this chapter shall be based on such criteria asshall be established by the State Council of Higher Education, which criteriashall include the student's financial need. Need is defined as thedifference between (i) the amount required to meet the student's actual costof attendance at the institution of his choice, and (ii) the amount computedby the participating institution which the student attends to be available tosuch student from his own resources, those of his family and other availableaid sources, including but not limited to, work and loan self-help programs.In determining the amount a student and his family can contribute to thetotal cost of his education, the participating institution shall take intoconsideration factors such as family income; any unusual circumstances orextraordinary expenses of the student or his family, including family sizeand number of students attending college; any assets which may be availableto the student or his family to help defray the cost of his attendance; andany other nationally accepted criteria for determination of financial need.An award under this section normally shall be made only to a student who hasan exceptional need, as defined by the criteria established by the StateCouncil of Higher Education.
(1973, cc. 24, 106; 1983, c. 236; 1988, c. 232.)