500 Ind. Admin. Code 1-1-8

Current through January 8, 2025

Section 500 IAC 1-1-8 - Minimum and maximum awards

Authority: IC 21-18.5-4-9

Affected: IC 21-12-3; IC 21-12-4-4

Sec. 8.

The maximum award offered to applicants shall not exceed the amount authorized by the general assembly in the biennial appropriations bill. In the absence of specific instructions from the general assembly, unless otherwise approved by the commission, the maximum shall not exceed the lesser of:

(1) the actual tuition and mandatory fees from the schedule adopted by the commission;

(2) the actual fees charged students if less than the schedule adopted by the commission; or

(3) the sum of:

(A) the highest actual tuition and mandatory fees charged to students at a public institution of higher learning for the academic year in which the application period falls; and

(B) the lowest appropriation per full-time student equivalent (FTE) made by the general assembly to a public institution of higher learning for the academic year in which the application period falls.

The minimum award that shall be offered to applicants shall be established annually by a resolution adopted by the commission.

500 IAC 1-1-8

Commission for Higher Education of the State of Indiana; 500 IAC 1-1-8; filed Feb 26, 1986, 4:10 p.m.: 9 IR 1578; filed Jan 9, 1996, 5:00 p.m.: 19 IR 1364; readopted filed Nov 30, 2001, 10:52 a.m.: 25 IR 1295; readopted filed Nov 30, 2007, 8:58 a.m.: 20071226-IR-585070702RFA

Transferred from the State Student Assistance Commission ( 585 IAC 1-9-8) to the Commission for Higher Education of the State of Indiana ( 500 IAC 1-1-8) by IC 21-18.5-1-2(c), effective July 1, 2012.