Section 20 AAC 16.037 - Computation of financial need and authorized grant amounts(a) Grant award amounts are based on financial need, determined by the student's expected family contribution as reported on the FAFSA and by the student's enrollment status.(b) A grant recipient may not receive a grant award that exceeds the amount of the student's unmet need, based on the student's actual cost of attendance.(c) A student enrolled at least half-time in a non-term-based vocational certificate program that culminates within one academic year in a vocational certificate designed to lead to employment is eligible for up to the lesser of the annual maximum grant or eligible financial need.(e) The maximum grant award is determined annually by the executive director of the commission, but may not exceed $3,000 per school year for a full-time student, unless the student qualifies for an increased grant award under 20 AAC 16.034, in which case the grant award may be increased to up to $4,000 per school year. The commission may prorate grant awards for less than full-time attendance.(g) If a grant recipient transfers from one institution to another institution, and the institution from which the recipient transfers has not disbursed grant award money, the grant recipient may transfer the money from that institution to the institution to which the grant recipient has transferred upon the commission's determination of the grant recipient's continued eligibility.(j) In annually determining the maximum grant award under (e) of this section, the executive director of the commission may take into consideration the total funding available for grant awards in a school year.Eff. 2/20/2005, Register 173; am 12/28/2008, Register 188; am 10/3/2011, Register 200; am 4/4/2013, Register 206; am 2/22/2015, Register 213, April 2015Authority:AS 14.42.030
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