Ala. Admin. Code r. 300-4-2-.05

Current through Register Vol. 43, No. 02, November 27, 2024

Section 300-4-2-.05 - Fund Allocation Procedure

(1) The institutional need of all students at an institution as reflected on the most recent FWSP worksheet of the federal FISAP shall be reported to the Alabama Student Assistance Program office by a reporting date established by the Alabama Commission on Higher Education. Percentage figures of the institution's relative state need indicated on the most recent FWSP Worksheet for all participating institutions shall be adjusted, as necessary, to exclude from the institutional award pro rata calculations reflecting non-resident students, graduate students, and religion or theology majors.

(2) The total funds available for eligible students attending eligible institutions which had no previous year Federal Work-Study Program recipients shall not be less than $1,000 nor more than $5,000 and based on a three-tiered payment schedule tied to enrollment levels as determined by the Alabama Student Assistance Program Office.

(3) If any institution does not have a sufficient number of eligible applicants by April 30 of the award year to utilize its allocated percentage of funds, or if any institution fails to submit reports due in the Alabama Student Assistance Program office by that date (April 30), the remaining funds shall be reallocated among all eligible institutions as specified in 05(1).

Ala. Admin. Code r. 300-4-2-.05

Filed September 30, 1982. Emergency Amendment: Filed October 13, 1987. Amended: Filed December 7, 1987. Amended: Filed November 7, 1997; effective December 12, 1997.

Amended by Alabama Administrative Monthly Volume XXXV, Issue No. 07, April 28, 2017, eff. 5/11/2017.

Authors: Joseph T. Sutton, Timothy W. Vick

Statutory Authority: Title IV of the Higher Education Act of 1965 as amended.