1. Students qualified. A tuition grant from moneys appropriated under section 256.194, subsection 2, may be awarded to a resident of Iowa who isadmitted and in attendance as a full-time or part-time resident student at an eligible institution and who establishes financial need. 2. Extent of grant. A qualified full-time resident student enrolled in aneligible institution that meets the criteria of section 256.183, subsection 3, may receive tuition grants for not more than four semesters or the equivalent of two full years of study. However, if a student resumes study after at least a two-year absence, the student may again be eligible for the specified amount of time, except that the student shall not receive assistance for courses for which credit was previously received. 3. Amount of grant. a. The amount of a tuition grant to a qualified full-time student for the fall and spring semesters, or the equivalent, shall be the amount of the student’s financial need for that period. However, a tuition grant shall not exceed six thousand dollars. b. The amount of a tuition grant to a qualified full-time student for the summer semester or equivalent shall be one-half the amount of the tuition grant the student receives under paragraph “a”. c. The amount of a tuition grant to a qualified part-time student enrolled in a course of study including at least three semester hours but fewer than twelve semester hours for the fall,spring, and summer semesters, or the equivalent, shall be equalto the amount of a tuition grant that would be paid to a full-time student times a number which represents the number ofhours in which the part-time student isactually enrolled divided by twelve semester hours, or the equivalent. d. Ifa qualified student receives financial aid under any other program, the fullamount of such financial aid shall be considered part of the student’s financial resources available in determining the amount of the student’s financial need for that period. In no case may the state’s total financial contribution to the student’s education, including financial aid under any other state or federal program, exceed the tuition and mandatory fees at the eligible institution the student attends. 4. Grant payments — attendance discontinued. a. Payments under the tuition grant shall be allocated equally among the semesters or the equivalent and shall be paid at the beginning of each semester or equivalent upon certification by the eligible institution that the student is admitted and in full-time or part-time attendance in a course of study. b. Ifthe student discontinues attendance before the end ofany semester, or the equivalent, after receiving payment under the grant, the entire amount of any refund due that student, up to the amount of any payments made under the annual grant, shall be paid by the eligible institution to the state. 5. Commission responsibilities. The commission’s responsibilities for administering tuition grants under this section shall be the same as provided under section 256.189. The commission may require an eligible institution to promptly furnish any information which the commission may request in connection with the tuition grant program. 6. Grant applications. Each applicant for a tuition grant under this section shall meet the requirements of section 256.190. 7. Reports to commission. An eligible institution shall file annual reports with the commission, as required by the commission and under section 256.183, prior to receipt of tuition grant moneys under this part. 8. Fund established. An Iowa tuition grants for-profit institutions fund is established in the state treasury. The fund shall be administered by the commission and shall consist of moneys appropriated by the general assembly and other moneys received by the commission for deposit in the fund. The moneys in the fund are appropriated to the commission for purposes of providing tuition grants to qualified students who are enrolled in eligible institutions. Notwithstanding section 8.33, moneys in the fund at the close of the fiscal year shall not revert to the general fund of the state but shall remain available for expenditure for purposes of providing tuition grants to qualified students who are enrolled in eligible institutions for subsequent fiscal years. Notwithstanding section 12C.7, subsection 2,interest or earnings on moneys in the fund shall be credited to the fund and are appropriated to the commission for purposes of administering any scholarship or grant program described in this subchapter VII, part 4. C2018, §261.16A C2024, §256.191 NEW subsection8
‹ Prev All Iowa sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.