§ 23-38.47. Criteria for making grants
All grants made pursuant to this chapter shall be based on such criteria as shall be established by the State Council of Higher Education, which criteria shall include the student's financial need. Need is defined as the difference between (i) the amount required to meet the student's actual cost of attendance at the institution of his choice, and (ii) the amount computed by the participating institution which the student attends to be available to such student from his own resources, those of his family and other available aid sources, including but not limited to, work and loan self-help programs. In determining the amount a student and his family can contribute to the total cost of his education, the participating institution shall take into consideration factors such as family income; any unusual circumstances or extraordinary expenses of the student or his family, including family size and number of students attending college; any assets which may be available to the student or his family to help defray the cost of his attendance; and any other nationally accepted criteria for determination of financial need. An award under this section normally shall be made only to a student who has an exceptional need, as defined by the criteria established by the State Council of Higher Education.
(1973, cc. 24, 106; 1983, c. 236; 1988, c. 232.)
Sections: Previous 23-38.45 23-38.46 23-38.47 23-38.48 23-38.49 23-38.50 23-38.51 23-38.52 23-38.53 NextLast modified: April 3, 2009