A college tuition aid grant shall be awarded annually to each eligible, qualified full-time or part-time undergraduate or graduate student enrolled in a curriculum leading to a degree or certificate in an institution of collegiate grade or postsecondary institution providing a program of training to prepare students for employment in a recognized occupation in Oklahoma approved or accredited by the Oklahoma State Regents for Higher Education or appropriate postsecondary agency in accordance with the following:

1. Eligibility. Each full-time or part-time resident student will be eligible to receive a grant in an amount as provided in paragraph 2 of this section. The Oklahoma State Regents for Higher Education shall determine by rules and regulations the maximum number of semesters a student may be eligible for grants. No student shall be eligible for grants unless the student maintains such minimum standards of academic performance as are required by the institution in which the student is enrolled.

In the event a student for any reason ceases to continue to be enrolled during the course of an academic year, the student shall cease to be eligible for tuition aid.

2. Amount of grant. The amount of tuition aid grant to any student under this act for any semester shall represent a percentage not greater than seventy-five percent (75%) of the tuition and enrollment fees normally charged to residents of the State of Oklahoma by the institution of attendance. The Oklahoma State Regents for Higher Education shall determine by rules the annual maximum award amount based on an annual assessment of funds availability. The State Regents shall not increase the annual maximum award amount unless funding is sufficient to serve at least the same number of students as the previous academic year.

For the 2000-2001 academic year and each academic year thereafter, the percentage of aid shall be based on a need analysis system that is consistent with federal student financial aid regulations. The Oklahoma State Regents for Higher Education shall set an annual award payment schedule based upon a maximum grant of seventy-five percent (75%) of tuition and fees with grants based on lower percentages of tuition and fees being awarded to students who demonstrate lower financial need.

Any student who receives an award for the 1999-2000 academic year shall not be denied additional awards because of inability to meet the financial standards established in this act as long as other eligibility criteria continue to be met and as long as the award status of the student is renewed on an annual basis. The Oklahoma State Regents for Higher Education are authorized to establish procedures to determine the financial need of the student under the standards used during the 1999-2000 academic year until the initial degree requirements are met by the student.

Financial assistance received under this act will be considered as part of a student's financial aid package.

Added by Laws 1971, c. 149, § 7, emerg. eff. May 22, 1971. Amended by Laws 1982, c. 20, § 2, emerg. eff. March 23, 1982; Laws 1990, c. 263, § 88, operative July 1, 1990; Laws 1999, c. 379, § 2, eff. July 1, 1999.