Award amounts, minimums and maximums--adjustment in awards, when.
173.1105. 1. Beginning with the 2007-08 academic year, an applicantwho is an undergraduate postsecondary student at an approved private orpublic institution and who meets the other eligibility criteria shall beeligible for financial assistance, with a minimum and maximum award amountas follows:
(1) One thousand dollars maximum and three hundred dollars minimumfor students attending institutions classified as part of the publictwo-year sector;
(2) Two thousand one hundred fifty dollars maximum and one thousanddollars minimum for students attending institutions classified as part ofthe public four-year sector, including Linn State Technical College; and
(3) Four thousand six hundred dollars maximum and two thousanddollars minimum for students attending approved private institutions.
2. All students with an expected family contribution of twelvethousand dollars or less shall receive at least the minimum award amountfor his or her institution. Maximum award amounts for an eligible studentwith an expected family contribution above seven thousand dollars shall bereduced by ten percent of the maximum expected family contribution for hisor her increment group. Any award amount shall be reduced by the amount ofa student's reimbursement pursuant to section 160.545, RSMo. For purposesof this subsection, the term "increment group" shall mean a group organizedby expected family contribution in five hundred dollar increments intowhich all eligible students shall be placed.
3. If appropriated funds are insufficient to fund the program asdescribed, the maximum award shall be reduced across all sectors by thepercentage of the shortfall. If appropriated funds exceed the amountnecessary to fund the program, the additional funds shall be used toincrease the number of recipients by raising the cutoff for the expectedfamily contribution rather than by increasing the size of the award.
4. Every three years, beginning with academic year 2009-10, the awardamount may be adjusted to increase no more than the Consumer Price Indexfor All Urban Consumers (CPI-U), 1982-1984 = 100, not seasonally adjusted,as defined and officially recorded by the United States Department ofLabor, or its successor agency, for the previous academic year. Thecoordinating board shall prepare a report prior to the legislative sessionfor use of the general assembly and the governor in determining budgetrequests which shall include the amount of funds necessary to maintain fullfunding of the program based on the baseline established for the programupon the passage of sections 173.1101 to 173.1107. Any increase in theaward amount shall not become effective unless an increase in the amount ofmoney appropriated to the program necessary to cover the increase in awardamount is passed by the general assembly.
(L. 2007 S.B. 389)
Sunset date 8-28-13, unless reauthorized (see § 173.1108)
Termination date 9-01-14, unless reauthorized (see § 173.1108)
Award amounts, minimums and maximums--adjustment in awards, when.
173.1105. 1. Beginning with the 2007-08 academic year, an applicantwho is an undergraduate postsecondary student at an approved private orpublic institution and who meets the other eligibility criteria shall beeligible for financial assistance, with a minimum and maximum award amountas follows:
(1) One thousand dollars maximum and three hundred dollars minimumfor students attending institutions classified as part of the publictwo-year sector;
(2) Two thousand one hundred fifty dollars maximum and one thousanddollars minimum for students attending institutions classified as part ofthe public four-year sector, including Linn State Technical College; and
(3) Four thousand six hundred dollars maximum and two thousanddollars minimum for students attending approved private institutions.
2. All students with an expected family contribution of twelvethousand dollars or less shall receive at least the minimum award amountfor his or her institution. Maximum award amounts for an eligible studentwith an expected family contribution above seven thousand dollars shall bereduced by ten percent of the maximum expected family contribution for hisor her increment group. Any award amount shall be reduced by the amount ofa student's reimbursement pursuant to section 160.545, RSMo. For purposesof this subsection, the term "increment group" shall mean a group organizedby expected family contribution in five hundred dollar increments intowhich all eligible students shall be placed.
3. If appropriated funds are insufficient to fund the program asdescribed, the maximum award shall be reduced across all sectors by thepercentage of the shortfall. If appropriated funds exceed the amountnecessary to fund the program, the additional funds shall be used toincrease the number of recipients by raising the cutoff for the expectedfamily contribution rather than by increasing the size of the award.
4. Every three years, beginning with academic year 2009-10, the awardamount may be adjusted to increase no more than the Consumer Price Indexfor All Urban Consumers (CPI-U), 1982-1984 = 100, not seasonally adjusted,as defined and officially recorded by the United States Department ofLabor, or its successor agency, for the previous academic year. Thecoordinating board shall prepare a report prior to the legislative sessionfor use of the general assembly and the governor in determining budgetrequests which shall include the amount of funds necessary to maintain fullfunding of the program based on the baseline established for the programupon the passage of sections 173.1101 to 173.1107. Any increase in theaward amount shall not become effective unless an increase in the amount ofmoney appropriated to the program necessary to cover the increase in awardamount is passed by the general assembly.
(L. 2007 S.B. 389)
Sunset date 8-28-13, unless reauthorized (see § 173.1108)
Termination date 9-01-14, unless reauthorized (see § 173.1108)
Award amounts, minimums and maximums--adjustment in awards, when.
173.1105. 1. Beginning with the 2007-08 academic year, an applicantwho is an undergraduate postsecondary student at an approved private orpublic institution and who meets the other eligibility criteria shall beeligible for financial assistance, with a minimum and maximum award amountas follows:
(1) One thousand dollars maximum and three hundred dollars minimumfor students attending institutions classified as part of the publictwo-year sector;
(2) Two thousand one hundred fifty dollars maximum and one thousanddollars minimum for students attending institutions classified as part ofthe public four-year sector, including Linn State Technical College; and
(3) Four thousand six hundred dollars maximum and two thousanddollars minimum for students attending approved private institutions.
2. All students with an expected family contribution of twelvethousand dollars or less shall receive at least the minimum award amountfor his or her institution. Maximum award amounts for an eligible studentwith an expected family contribution above seven thousand dollars shall bereduced by ten percent of the maximum expected family contribution for hisor her increment group. Any award amount shall be reduced by the amount ofa student's reimbursement pursuant to section 160.545, RSMo. For purposesof this subsection, the term "increment group" shall mean a group organizedby expected family contribution in five hundred dollar increments intowhich all eligible students shall be placed.
3. If appropriated funds are insufficient to fund the program asdescribed, the maximum award shall be reduced across all sectors by thepercentage of the shortfall. If appropriated funds exceed the amountnecessary to fund the program, the additional funds shall be used toincrease the number of recipients by raising the cutoff for the expectedfamily contribution rather than by increasing the size of the award.
4. Every three years, beginning with academic year 2009-10, the awardamount may be adjusted to increase no more than the Consumer Price Indexfor All Urban Consumers (CPI-U), 1982-1984 = 100, not seasonally adjusted,as defined and officially recorded by the United States Department ofLabor, or its successor agency, for the previous academic year. Thecoordinating board shall prepare a report prior to the legislative sessionfor use of the general assembly and the governor in determining budgetrequests which shall include the amount of funds necessary to maintain fullfunding of the program based on the baseline established for the programupon the passage of sections 173.1101 to 173.1107. Any increase in theaward amount shall not become effective unless an increase in the amount ofmoney appropriated to the program necessary to cover the increase in awardamount is passed by the general assembly.
(L. 2007 S.B. 389)
Sunset date 8-28-13, unless reauthorized (see § 173.1108)
Termination date 9-01-14, unless reauthorized (see § 173.1108)
