Section 1640-01-01-.03 - FINANCIAL NEED(1) The parent's or student's EFC shall be measured using the same guidelines as those used in determining eligibility for assistance under the Federal Pell Grant Program.(2) The maximum award paid each year shall be based on available funds and shall be determined by the TSAC Board of Directors. TSAC shall develop and publish the payment table annually.(3) TSAC will establish a maximum EFC level based on anticipated appropriations. Students with an EFC equal to or less than the maximum amount will receive award commitments until appropriated funds are exhausted.Tenn. Comp. R. & Regs. 1640-01-01-.03
Original rule filed January 23, 1976; effective April 15, 1976. Repeal and new rule filed July 6, 1976; effective August 5, 1976. Amendment filed January 9, 1979; effective February 23, 1979. Amendment filed December 27, 1979; effective March 30, 1980. Amendment filed October 31, 1980; effective January 28, 1981. Amendment filed November 30, 1981; effective March 1, 1982. Amendment filed October 20, 1982; effective January 14, 1983. Amendment filed July 10, 1984; effective October 14, 1984. Amendment filed May 7, 1991; effective August 28, 1991. Repeal and new rule filed November 10, 2010; effective April 30, 2011. Amendments filed March 1, 2013; effective August 29, 2013. Amendment filed July 29, 2015; effective 10/27/2015.Authority: T.C.A. §§ 49-4-201, 49-4-204 and 49-4-301.