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6-80-105. Student financial aid — Scholarship stacking — Definitions.
Arkansas Code — all titles (historical 2020) · legal_authorities
6-80-105. Student financial aid — Scholarship stacking — Definitions.
(a) As used in this section:
(1) “Cost of attendance” means the recognized cost of attendance of an institution of higher education calculated under rules established by the Division of Higher Education;
(2) “Federal aid” means scholarships or grants awarded to a student as a result of the Free Application for Federal Student Aid, excluding the Pell Grant;
(3) “Other aid” means a scholarship, grant, waiver, or reimbursement for tuition, fees, books, or other cost of attendance, other than federal aid or state aid, provided to a student from a postsecondary institution or a private source;
(4) “State aid” means scholarships or grants awarded to a student from public funds, including without limitation the Arkansas Academic Challenge Scholarship under § 6-85-201 et seq., the Division of Higher Education scholarship and grant programs, state general revenues, tuition, and local tax revenue; and
(5)(A) “Student aid package” means federal aid, state aid, and other aid a student receives for postsecondary education expenses.
(B) “Student aid package” does not include federal aid, state aid, or other aid received by a student who is:
(i) An active member of the United States Armed Forces;
(ii) An active member of the National Guard;
(iii) A member of the reserve components of the armed forces; or
(iv) The spouse of a person under subdivision (a)(5)(B)(i), (ii), or (iii) of this section.
(b)(1) A postsecondary institution shall not award state aid in a student aid package in excess of the cost of attendance at the institution where the student enrolls.
(2) For the purpose of stacking scholarships in a student's student aid package, the Arkansas Academic Challenge Scholarship under §
Source: Arkansas Code — historical release 78 (November 6, 2020) · 6-80-105
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.
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Stable record: arkansas_code:legal_authorities:6-80-105
Source file: gov.ar.code.title.06.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 40655fbc8b0429cbaa25e631a9280e7ec83c7eaa8ba812875889ecbf03b20724
Source location: content.xml paragraph 42221
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6-80-105. Student financial aid — Scholarship stacking — Definitions.
(a) As used in this section:
(1) “Cost of attendance” means the recognized cost of attendance of an institution of higher education calculated under rules established by the Division of Higher Education;
(2) “Federal aid” means scholarships or grants awarded to a student as a result of the Free Application for Federal Student Aid, excluding the Pell Grant;
(3) “Other aid” means a scholarship, grant, waiver, or reimbursement for tuition, fees, books, or other cost of attendance, other than federal aid or state aid, provided to a student from a postsecondary institution or a private source;
(4) “State aid” means scholarships or grants awarded to a student from public funds, including without limitation the Arkansas Academic Challenge Scholarship under § 6-85-201 et seq., the Division of Higher Education scholarship and grant programs, state general revenues, tuition, and local tax revenue; and
(5)(A) “Student aid package” means federal aid, state aid, and other aid a student receives for postsecondary education expenses.
(B) “Student aid package” does not include federal aid, state aid, or other aid received by a student who is:
(i) An active member of the United States Armed Forces;
(ii) An active member of the National Guard;
(iii) A member of the reserve components of the armed forces; or
(iv) The spouse of a person under subdivision (a)(5)(B)(i), (ii), or (iii) of this section.
(b)(1) A postsecondary institution shall not award state aid in a student aid package in excess of the cost of attendance at the institution where the student enrolls.
(2) For the purpose of stacking scholarships in a student's student aid package, the Arkansas Academic Challenge Scholarship under § 6-85-201 et seq. shall be reduced or returned first.
(c) A postsecondary institution shall report to the division the total amount of federal aid, state aid, and other aid a student receives if the student receives an award from a division scholarship or grant program, including the Arkansas Academic Challenge Scholarship under § 6-85-201 et seq.
(d)(1) When a student receives a student aid package that includes state aid and the student aid package exceeds the cost of attendance, the postsecondary institution shall repay state aid in the amount exceeding the cost of attendance, starting with state aid received under the Arkansas Academic Challenge Scholarship under § 6-85-201 et seq.
(2) The division shall credit the excess state aid funds to the appropriate division fund or trust account.
(e) A student awarded state aid shall disclose all state aid, federal aid, and other aid to:
(1) The division if the division awards state aid to the student; and
(2) A postsecondary institution that awards state aid or other aid to the student.
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Arkansas Code — all titles (historical 2020) · legal_authorities
6-85-201. Findings.
The General Assembly finds that:
(1) In approving Arkansas Constitution, Amendment 87, the citizens of this state provided an opportunity to increase the resources provided for higher education scholarships and grants through a state lottery;
(2) The net proceeds from the state lottery, in addition to existing nonlottery state educational resources for scholarships and grants, will:
(A) Encourage associate degree, certificate of proficiency program, and technical certificate program recipients and university juniors to complete a baccalaureate degree;
(B) Provide opportunities for students more than one (1) year out of high school to enter or reenter higher education;
(C) Provide an improved system of communication to students and parents about opportunities for higher education scholarships and grants in Arkansas; and
(D) Provide an evaluation and analysis of all state funding for scholarships and grants and how the funding advances the state's goals for higher education; and
(3) Changes to the Arkansas Academic Challenge Scholarship Program — Part 2 may be necessary from time to time to ensure the solvency of the program by spreading the program liabilities over a period of time while ensuring that there are scholarship dollars available for students who successfully complete their courses.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 6-85-201
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. The source passage cites 6-85-201. This identifies an authority to review, not proof of applicability.