Ala. Admin. Code r. 635-X-2-.04

Current through Register Vol. 43, No. 1, October 31, 2024

Section 635-X-2-.04 - Selection Of Recipients Of Loans

(1) Pertinent information concerning each applicant's financial status and academic achievements will be compiled in outline form prior to the annual meeting. These outlines plus the applications and Parent's Confidential Financial Reports will be available to members of the Board attending the annual meeting. All of this information is strictly confidential.

(2) Recipients of loans who are members of the entering class will be selected by the priority voting system approved by the Board.

(a) Each Board member present at the meeting will rate each application from one (1) to five (5) to indicate his/her evaluation of the applicant's need and qualifications for financial aid relative to all other applicants who are students in good standing. One (1) is equal to the highest priority, five (5) is equal to the lowest priority.

(b) The average rating of all Board members present will determine the applicants' priority for financial assistance.

(c) Loans not to exceed twenty-five percent (25%) of the members of the upcoming freshman class, will be granted to applicants who receive the lowest average priority score, provided three-fourths (3/4) of the Board members present approve the voting results. A Board member may request that the Board reconsider any application which receives a priority score low enough to qualify for a loan. The original score will be declared invalid and the Board will cast a substitute vote if such action is approved by three-fourths (3/4) of the Board members present.

(3) In the event a loan is not accepted by a recipient in the entering class it may be awarded to another qualified applicant who is a member of the same class. Priority will be given to the applicant whose average priority score ranked next to the last successful score.

Ala. Admin. Code r. 635-X-2-.04

Filed September 7, 1984. Amended: Filed February 4, 2014; effective March 11, 2014.

Authors: J. Matt Bledsoe, Mark Martin

Statutory Authority:Code of Ala. 1975, §§ 34-22-60, etseq.