Montana § 15-62-205 Scholarships And Financial Aid Provisions -- Exceptions

Montana Statutes

§ 15-62-205 — Scholarships And Financial Aid Provisions -- Exceptions

Montana·Title 15 TAXATION·Ch. 62 FAMILY EDUCATION SAVINGS ACT·Part 2 Family Education Savings Program Account -- Administration

15-62-205 . Scholarships and financial aid provisions -- exceptions.

(1)Except as provided in subsection (2), a student loan program, student grant program, or other financial assistance program established or administered by the state or a financial assistance program administered by a state-supported college or university must treat the balance in an account of which the student is a designated beneficiary as if it were an asset of the parent of the designated beneficiary and not as a scholarship or grant or as an asset of the student for determining a student's or parent's income, assets, or financial need.

(2)This section does not apply if:

(a)federal law requires all or a portion of the amount in an account to be taken into account in a different manner;

(b)federal benefits could

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15-62-205 . Scholarships and financial aid provisions -- exceptions. (1) Except as provided in subsection (2), a student loan program, student grant program, or other financial assistance program established or administered by the state or a financial assistance program administered by a state-supported college or university must treat the balance in an account of which the student is a designated beneficiary as if it were an asset of the parent of the designated beneficiary and not as a scholarship or grant or as an asset of the student for determining a student's or parent's income, assets, or financial need.
(2) This section does not apply if:
(a) federal law requires all or a portion of the amount in an account to be taken into account in a different manner;
(b) federal benefits could be lost if all or a portion of the amount in an account is not taken into account in a different manner; or
(c) a specific grant establishing a financial assistance program requires that all or a portion of the amount in an account be taken into account.

Montana § 15-62-205 (Scholarships And Financial Aid Provisions -- Exceptions) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.