8 Va. Admin. Code § 40-150-40

Current through Register Vol. 41, No. 4, October 8, 2024

Section 8VAC40-150-40 - Amount of awards

Awards are subject to the following limitations:

1. Standard awards are set at a maximum of $1,000 per award year, which is allocated at $500 per term for up to two terms per award year. For institutions not on a semester-based calendar, council staff will determine an equivalent award per term.

2. An additional $1,000 per year is available to students enrolled into an eligible science, teaching, engineering, mathematics, or nursing degree (STEMN) program, which is allocated at $500 per term for up to two terms per award year. For institutions not on a semester-based calendar, council staff will determine an equivalent award per term.

3. If the general appropriation is insufficient to provide a full award to all eligible students, then the awards for all students shall be reduced proportionately.

4. Degree programs eligible for the additional amount will be identified in the council's guidance document: CTG Addendum - Eligible STEMN Degree Programs.

5. Eligibility for the additional STEMN award must be checked prior to each disbursement of funds.

6. An award received by a student under the program is applied to the student's tuition and fees and cannot be prorated or reduced by the institution except in cases when the award, when combined with all other financial assistance (exclusive of the student's EFC), exceeds the student's cost of attendance.

7. CTG recipients must have their state need-based financial aid eligibility reduced by the amount of the CTG award. For purposes of recalculating eligibility for the Commonwealth Award or Virginia Guaranteed Assistance Program (VGAP) grant, the student's tuition and fees are reduced by the amount of the CTG award. These adjusted tuition and fees are then used to recalculate the CTG recipient's cost of attendance used to determine the student's eligibility for the Commonwealth Award or VGAP. In no case should a student's CTG and Commonwealth Award combine to exceed tuition and fees or the CTG and VGAP combine to exceed tuition, fees, and a book allowance.

8 Va. Admin. Code § 40-150-40

Derived from Virginia Register Volume 25, Issue 25, eff. July 31, 2009.

Statutory Authority

§ 23-38.10:9 of the Code of Virginia.