La. Admin. Code tit. 28 § IV-1301
Current through Register Vol. 50, No. 9, September 20, 2024
Section IV-1301 - General ProvisionsA. Legislative authority: 1. federal: a. title IV of the Higher Education Act of 1965;b. 34 CFR Part 692, as amended;c. title IV of the Higher Education Amendments of 1992 (Public Law 102-325);2. state: b. Act 632 of the 1974 Regular Legislative Session;c. Act 228 of the 1977 Regular Legislative Session.B. Description, History and Purpose. The Louisiana Leveraging Educational Assistance Partnership (LEAP) Program, first funded in 1975, provides need-based grants to academically qualified students using federal and state funds. These grants are to be used for educational expenses including tuition and fees, books and supplies, and living expenses, such as room, board and transportation.C. Louisiana administers a decentralized LEAP Program. Certain functions of the program are delegated to participating schools. Schools approved for participation in the Louisiana LEAP Program must have federal eligibility and must annually submit a state application and be approved for state participation. Funding available for a specific award year is allocated to eligible in-state postsecondary institutions who select and certify recipients to the Louisiana Board of Regents (the board). The board forwards award funding to the institutions for disbursement to the student or student's account.D. Award Amounts. Individual grants range from an annual minimum of $200 to a maximum of $2,000; however, the actual amount of each student's award is determined by the financial aid office at the institution and is governed by the number of recipients selected and the amount of funds available. Awards are based upon a full academic year, excluding summer sessions and intersession, beginning with the fall term and concluding with the spring term.E.1. Allocation of Funds. Annually, funds are allocated to post-secondary institutions based on school type, the school's prior year first-time, full-time enrollment of matriculating students and the amount of the prior year's allocation that was expended. Initial funds, for first-time recipients, are computed as a percentage of all participating institutions first-time, full-time enrollment as of October 10 of the prior fiscal year. A student's enrollment in an undergraduate degree granting school which is a component of a state supported medical center, shall be a first-time, fulltime freshman for the purpose of this program. Continuation funds for students who had previously received LEAP are computed as a percentage of the allocated funds used during the previous year. The continuation formula applies 60 percent for four-year schools and 40 percent for two-year schools. For the purpose of this Paragraph, matriculating student means a degree seeking student. 2. For the 2006-2007 academic year (college), the allocations described in E.1 above shall be made to postsecondary institutions based on 2004-2005 academic year (college) formula data.F. Reallocation of Funds. Uncommitted institutional allotted funds are reallocated if not committed by the deadline of November 1 for colleges and universities and campuses of Louisiana Technical College and January 1 for proprietary schools. The method of reallocation is dependent upon the amount of funds available for reallocation. If the reallocation amount is less then $50,000, then only two- and four-year colleges and universities, which have fully committed their original allotment by the appropriate deadline, receive a reallotment. If $50,000 or more is available for reallocation, it is reallotted to eligible schools of all types, which have fully committed their original allotment by the appropriate deadline.La. Admin. Code tit. 28, § IV-1301
Promulgated by the Student Financial Assistance Commission, Office of Student Financial Assistance, LR 22:338 (May 1996), repromulgated LR 24:641 (April 1998), amended LR 24:1910 (October 1998), LR 25:1458 (August 1999), repromulgated LR 27:1860 (November 2001), amended LR 28:2332 (November 2002), LR 32:2239 (December 2006), LR 33:440 (March 2007), LR 34:240 (February 2008), LR 34:1885 (September 2008), Amended by the Board of Regents, Office of Student Financial Assistance, LR 44540 (3/1/2018).AUTHORITY NOTE: Promulgated in accordance with R.S. 17:3021-3031.