Ariz. Admin. Code § 7-3-305

Current through Register Vol. 31, No. 2, January 10, 2025

Section R7-3-305 - Arizona LEAP Award Procedures

A. Eligible students who wish to apply for a LEAP award will provide to the financial aid office the information needed for the financial need analysis as specified in R7-3-304(B).

B. The financial aid office will:

1. Determine whether or not the student meets the eligibility requirements for an Arizona LEAP award as outlined in R7-3-304(A);

2. Determine the financial need of the student using the need analysis specified in R7-3-309(B);

3. Exercise due diligence in determining that the student:

a. Satisfies verification procedures which may be required for federal Title IV financial aid programs;

b. Satisfies requirements listed under 34 CFR 692.4.

4. Recommending the amount of the LEAP award in accordance with the following guidelines:

a. Awards may be made only to students who meet the criteria of R7-3-304(A);

b. The total of all LEAP awards to a student may not exceed $2,500 for the program year;

c. The financial aid officer will determine, based on student need, an award of no more than $2,500 nor less than $100 (round all awards to the nearest $1.00).

d. The financial aid officer must ensure that all applications are received in a timely fashion so disbursement of funds to students will be made before a semester or training period ends.

e. Sign the application form.

5. Send the application form to:

Arizona Commission For Postsecondary Education

2020 North Central Avenue, Suite 275

Phoenix, Arizona 85004-4503

(Attention: Financial Aid Director)

6. Receive approved applications, assure that LEAP award funds are disbursed to the student, and retain on file disbursement records (signed receipts, canceled checks, etc.) which verify that the student received the funds. No disbursement may be made to a student who, as a result of a change in status, no longer meets the eligibility requirements outlined in R7-3-304.

7. Maintain adequate fiscal control, accounting, and financial aid records at the institution in accordance with approved state and federal procedures.

8. Provide to the Commission such financial and other information as may be required to meet federal reporting and auditing requirements.

C. The Arizona Commission for Postsecondary Education will:

1. Receive the application for the Arizona LEAP award;

2. Verify that the student is eligible and that there are sufficient funds in the LEAP program account to fund the award;

3. Approve applications which meet these criteria;

4. Return applications that do not meet the criteria or are in any way incomplete to the financial aid office;

5. Disburse funds to the institution's financial aid officer for the approved applications.

Ariz. Admin. Code § R7-3-305

Adopted effective September 19, 1996, under an exemption from the Administrative Procedure Act pursuant to A.R.S. § 15-1852(C) (Supp. 96-3). Amended by exempt rulemaking at 5 A.A.R. 2046, effective June 1, 1999 (Supp. 99-2).