Okla. Admin. Code § 610:25-1-7

Current through Vol. 42, No. 6, December 2, 2024

Section 610:25-1-7 - Fiscal aspects of program

(a)Award limits. Academic Scholarship awards to qualified nonresident students attending Oklahoma institutions shall not exceed 25 percent of the greater of the number of awards of the preceding year or the amount of the previous year's funding for certified awards for the program.

(b)Additional aid. Students receiving this scholarship may also receive additional state-supported financial aid, but not in excess of the student's cost of attendance as determined by the institution consistent with regulations for federal financial aid. Likewise, a student may enhance the Academic Scholars award by accepting grants and scholarships from private sources.

(c)Funding priorities. The Oklahoma State Regents will, as soon as fiscally feasible, set aside in the Oklahoma State Regents' Academic Trust funds for the full scholarship commitment. Funding priority will be given first to prior years' recipients, and secondly, to any students applying for the scholarship for the first-time. For first-time students, priority will be given to Individual Applicant Qualified Students, Presidential Scholars, National Merit Scholars, and National Merit Finalists, and secondly, to Institutional Nominees.

(d)Amount of Scholarship. The program shall provide participants a scholarship in an amount not to exceed the average costs of tuition and other fees, room and board, and required textbooks or materials for undergraduate and graduate study for students attending regionally accredited public institutions of higher education in Oklahoma.

(1) The institution shall provide the student a tuition waiver that, when combined with the scholarship award, will not exceed the costs described in paragraph (d) above.

(2) Students who do not meet the continuing eligibility requirements for the scholarship may be eligible for the tuition waiver if they meet the standard tuition waiver criteria determined by the institution.

(3) Transfer students are eligible for the same level of tuition waiver as all other Academic Scholars.

(4) Institutions may elect to award nonresident students a resident and/or nonresident tuition waiver.

(e)Payment of funds. Funds made available to students as part of the Oklahoma State Regents Academic Scholars Program shall be paid directly to the institution in which the student is enrolled, in trust for the student, and on the student's behalf and shall contain appropriate restrictions and conditions that such monies are expended only for the purposes authorized by the State Statute authorizing this program.

(f)Private institutions. For students attending private Oklahoma institutions, the award amount will be the same as the student attending a similar type of public institution as defined by the State Regents.

Okla. Admin. Code § 610:25-1-7

Amended at 9 Ok Reg 3401, eff 7-9-92 (emergency); Amended at 10 Ok Reg 3231, eff 6-25-93; Amended at 12 Ok Reg 1477, eff 5-25-95; Amended at 17 Ok Reg 196, eff 10-12-99 (emergency); Amended at 17 Ok Reg 3055, eff 7-13-00; Amended at 18 Ok Reg 1770, eff 5-25-01; Amended at 19 Ok Reg 3053, eff 7-23-02 (emergency); Amended at 20 Ok Reg 2570, eff 7-11-03

Amended by Oklahoma Register, Volume 31, Issue 24, September 2, 2014, eff. 9/12/2014