Section 500 IAC 1-1-9 - Computation and adjustment of potential awardsAuthority: IC 21-18.5-4-9
Affected: IC 21-12-3; IC 21-12-4-4
Sec. 9.
The commission shall compute awards in the manner in which the general assembly directs in the biennial appropriations bill. In the absence of specific instructions from the general assembly, unless otherwise approved by the commission, the following calculation shall be used:
(1) Potential award is a percentage of the tuition and regularly assessed fees minus PC for dependent applicants and EFC for independent applicants. Applicants who graduated from an Indiana high school in 1998 or beyond with a Core 40 diploma and a 2.0 grade point average, and applicants who graduated from an Indiana high school in 1997 or beyond with an academic honors diploma and a 3.0 grade point average may qualify for higher awards levels than those who graduate from high school without Core 40 or academic honors diploma credentials.(2) When potential awards for all eligible students exceed available funds, the commission shall reduce the award amounts on a pro rata basis.(3) Based on prior year acceptances of awards offered to applicants, the commission may offer awards in a total amount greater than available funds to ensure the maximum possible utilization of grant funds.Commission for Higher Education of the State of Indiana; 500 IAC 1-1-9; 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-585070702RFATransferred from the State Student Assistance Commission ( 585 IAC 1-9-9) to the Commission for Higher Education of the State of Indiana ( 500 IAC 1-1-9) by IC 21-18.5-1-2(c), effective July 1, 2012.