§ 85-1912 — Target level of funds; computation

In order to reduce the costs of administering the Nebraska Opportunity Grant Act, the commission shall
identify a target level of funds to be distributed to students pursuant to
the act at each eligible postsecondary educational institution. The target
level of funds shall represent the maximum amount that may be awarded pursuant
to the act to eligible students enrolled in such eligible postsecondary educational
institution. To determine the target level
of funds for each eligible postsecondary educational institution, the commission shall:
(1) Determine the number of
eligible full-time-equivalent students enrolled at the eligible postsecondary
educational institution for the last completed award year;
(2) Multiply the number determined
in subdivision (1) of this section by the
tuition and mandatory fees as limited pursuant to section 85-1909 ;
(3) Divide the product derived
pursuant to subdivision (2) of this section for each
eligible postsecondary educational institution by the sum of the products
derived pursuant to subdivision
(2) of this section for all eligible postsecondary educational
institutions; and
(4) Multiply the total of
federal and state funds appropriated for purposes of distribution pursuant
to the act by the ratio derived pursuant to subdivision (3) of
this section.

Legislative History

Source: Laws 2003, LB 574, § 12; Laws 2004, LB 1107, § 2; Laws 2010, LB956, § 11.