(a) The Alaska education grant account is created as an account in the general fund. Money may be appropriated to the account from the Alaska higher education investment fund under AS 37.14.750 and from other sources. The commission may use the money in the account to pay grants awarded under AS 14.43.400 - 14.43.420 and to pay the cost of administration of the Alaska education grant program created under AS 14.43.400.
(b) The Alaska performance scholarship award account is created as an account in the general fund. Money may be appropriated to the account from the Alaska higher education investment fund under AS 37.14.750 and from other sources. The commission may use the money in the account to pay scholarships awarded to students under AS 14.43.810 - 14.43.849.
(c) Of the total amount available annually to the commission for payment of grants under AS 14.43.400 - 14.43.420 and for payment of scholarships under AS 14.43.810 - 14.43.849, one-third of the combined amount in the accounts established under (a) and (b) of this section shall be available solely for payment of grants awarded under AS 14.43.400 - 14.43.420. The commission shall annually allocate to all qualified applicants for scholarships awarded under AS 14.43.810 - 14.43.849 two-thirds of the combined amount in the accounts. If an insufficient number of qualified applicants are awarded grants under AS 14.43.400 - 14.43.420 or scholarships under AS 14.43.810 - 14.43.849, or both, before the end of that fiscal year, the commissioner shall redeposit the remaining funds into the Alaska higher education investment fund established under AS 37.14.750.
(d) The commission shall reserve a percentage calculated under this subsection of the total amount available for awards in the accounts established under (a) and (b) of this section each year for award to students who graduate from a school district with an ADM of less than 800 or from a school that was operated by the Alaska State-Operated School System established under former AS 14.08.020. The percentage reserved under this subsection shall be calculated by adding the ADMs of districts with an ADM of less than 800 and the number of students enrolled in a school that was operated by the Alaska State-Operated School System established under former AS 14.08.020 that is located in a district with an ADM of 800 or more and then dividing that number by the sum of the ADMs of all districts in the state.
(e) If an insufficient number of applicants apply for the available amount reserved under (d) of this section, the commission shall redeposit the remaining amount in the account from which the funds originated.
(f) In this section,
(1) “ADM” has the meaning given in AS 14.17.990;
(2) “district” has the meaning given in AS 14.17.990, but also includes a state boarding school under AS 14.16.
Copyright ©2024 LegalFix. All rights reserved. LegalFix is not a law firm, is not licensed to practice law, and does not provide legal advice, services, or representation. The information on this website is an overview of the legal plans you can purchase—or that may be provided by your employer as an employee benefit or by your credit union or other membership group as a membership benefit.
LegalFix provides its members with easy access to affordable legal services through a network of independent law firms. LegalFix, its corporate entity, and its officers, directors, employees, agents, and contractors do not provide legal advice, services, or representation—directly or indirectly.
The articles and information on the site are not legal advice and should not be relied upon—they are for information purposes only. You should become a LegalFix member to get legal services from one of our network law firms.
You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your network law firm.
The benefits and legal services described in the LegalFix legal plans are not always available in all states or with all plans. See the legal plan Benefit Overview and the more comprehensive legal plan contract during checkout for coverage details in your state.
Use of this website, the purchase of legal plans, and access to the LegalFix networks of law firms are subject to the LegalFix Terms of Service and Privacy Policy.