§ 23-3.5-103 — Grant program authorized - administration

Colorado § 23-3.5-103

• Jurisdiction: Colorado
• Title 23: Postsecondary Education
• Art.: Colorado Student Incentive

Text

(1) The general
assembly hereby authorizes the commission to establish a grant program for in-state students having financial need, to be administered in accordance with federal
law and regulations and guidelines established by the commission.

(2) The commission shall determine, by guideline, the institutions of higher
education eligible for participation in the grant program, and each eligible
institution of higher education shall recommend in-state students to the
commission for receipt of a grant.

(3) Grant program disbursements shall be handled by the institution of
higher education, subject to audit and review as provided in section 23-3.5-104.

(4) Upon commencement of participation in the grant program, no
participating institution of higher education shall decrease the amount of its own
funds spent for student aid below the amount so spent prior to participation in the
grant program.

(5) In determining the amount of a grant, the commission shall consider only
that portion of an in-state student's financial need which would have existed were
the nonpublic institution's tuition no greater than the highest in-state tuition rate
charged by a comparable state institution of higher education.

Legislative History

Source: L. 77: Entire article added, p. 1105, � 1, effective July 1.