Chapter 4701-17 Scholarships

4701-17-01 Education assistance program definitions.

The following terms are used with the same meanings throughout this chapter:

(A) "Minority" refers to a person with significant ancestry from the following areas:

(1) Africa, excluding the Middle East;

(2) Asia, excluding the Middle East;

(3) Central America and the Caribbean Islands;

(4) South America;

(5) The islands of the Pacific Ocean.

(6) In addition, the term includes persons with significant ancestry from the original peoples of North America who are of non European descent.

(B) "Ohio college or university" means an accredited college or university located in Ohio that has been issued a certificate of authorization to grant degrees by the board of regents or is part of the "University System of Ohio."

(C) "Tier one scholarship commitment" means a commitment by the board to award scholarship moneys to either an Ohio resident minority student or an Ohio resident student demonstrating financial need who is enrolled full time at an Ohio college or university . "Ohio resident" shall have the meaning defined in paragraph (H) of this rule.

(D) "Tier one scholarship grant" means an award of scholarship moneys by the board to a qualifying student who was previously awarded a tier one scholarship commitment.

(E) "Tier two grant" means an amount determined by the board to support minority CPA development and recruitment programs that have been approved by the board.

(F) "Fifth year of an individual program of study" is defined as meeting all of the following criteria:

(1) An individual program of study, where the Ohio college or university in which the student is enrolled takes responsibility that completion of the fifth year of the individual program of study by the student will meet the educational requirement outlined in division (D)(1)(b) of section 4701.06 of the Revised Code.

(2) The student must have completed a minimum of one hundred twenty semester hours of academic credit.

(G) "Accounting education program" means any five-year degree program approved by the board and offered by an Ohio college or university that requires sophomore standing to enter the program and meets the educational requirements outlined in division (D)(1)(b) of section 4701.06 of the Revised Code and rule 4701-3-03 of the Administrative Code.

(H) An "Ohio resident," for the purposes of this chapter, is an individual that is a United States citizen or permanent resident who is classified, or would be classified, as an Ohio resident for tuition purposes at an Ohio college or university.

Effective: 08/22/2010
R.C. 119.032 review dates: 06/07/2010 and 08/22/2015
Promulgated Under: 119.03
Statutory Authority: 4701.26
Rule Amplifies: 4701.26
Prior Effective Dates: 6/2/94, 9/19/94, 9/23/99, 5/7/03, 1/16/07, 7/16/09

4701-17-02 Scholarship eligibility criteria.

(A) The criteria that must be met in order for an applicant to qualify for a tier one scholarship commitment are as follows:

(1) The applicant must be a minority student, defined in paragraph (A) of rule 4701-17-01 of the Administrative Code, or a student demonstrating financial need. The board will set the criteria for defining financial need and may use the federal methodology as established in the"Free Application for Federal Student Aid (FAFSA)" to assist it in determining such criteria.

(2) The applicant must be enrolled as a student in an Ohio college or university.

(3) The applicant must be of junior or senior standing as defined by the Ohio college or university. An applicant may apply for a scholarship commitment more than once, but the applicant cannot receive more than one scholarship grant.

(4) The applicant must have declared a major in accounting or be enrolled in a program that, upon completion, would meet the educational requirements described in division (D)(1)(b) of section 4701.06 of the Revised Code and rule 4701-3-03 of the Administrative Code.

(5) The applicant must be a student who is academically in good standing as defined by the Ohio college or university.

(6) The applicant is an Ohio resident as defined in paragraph (H) of rule 4701-17-01 of the Administrative Code.

(B) The Ohio college or university must certify on the commitment application that the applicant meets the eligibility criteria outlined in paragraph (A) of this rule.

(C) Tier one scholarship commitments made to seniors are valid for three years from the date of the award. Tier one scholarship commitments made to juniors are valid for four years from the date of the award.

Effective: 08/22/2010
R.C. 119.032 review dates: 06/07/2010 and 08/22/2015
Promulgated Under: 119.03
Statutory Authority: 4701.26
Rule Amplifies: 4701.26
Prior Effective Dates: 6/2/94, 9/19/94, 3/19/98, 1/1/99, 9/23/99, 5/7/03, 7/31/03, 1/16/07

4701-17-03 Application requirements for tier one scholarship grants.

(A) Qualifying minority and other applicants who demonstrate a financial need must meet the following criteria to be eligible for tier one scholarship grants:

(1) The board has awarded the applicant a valid scholarship commitment that has not expired.

(2) The applicant must have completed one hundred twenty semester credit hours prior to the college term for which the first payment is to be received.

(3) The applicant must be enrolled in either of the following:

(a) An accounting education program as defined in paragraph (G) of rule 4701-17-01 of the Administrative Code, or

(b) The fifth year of an individual program of study as defined in paragraph

(F) of rule 4701-17-01 of the Administrative Code.

(B) Tier one scholarship grants are valid at any Ohio college or university.

(C) Tier one scholarship grant payments are to be disbursed to an Ohio college or university by the Board upon receipt of the following:

(1) An official invoice to the applicant from the Ohio college or university listing scheduled courses that certifies enrollment for a specific educational term.

(2) A certification by the Ohio college or university that the requirements outlined in paragraph (A)(2) of this rule are met by the applicant.

(3) A certification by the student that the student will sit for the CPA examination within two years of the date of the final scholarship grant payment. The student must agree to reimburse the board for any scholarship grant funds received if the student fails to sit for the CPA examination within the two-year time period.

(4) If the applicant qualifies for more than one grant payment, the applicant must submit with each subsequent payment request the passing grades earned in the preceding term for which a grant payment was received.

(D) Scholarship grants are valid for one year. If a grant recipient fails to exercise the grant during the one-year period, the grant will expire. If a grant recipient exercises the grant and receives a payment, the grant will expire one year after the date of the payment.

Effective: 08/22/2010
R.C. 119.032 review dates: 06/07/2010 and 08/22/2015
Promulgated Under: 119.03
Statutory Authority: 4701.26
Rule Amplifies: 4701.26
Prior Effective Dates: 6/2/94, 1/1/99, 9/23/99, 5/4/01, 5/7/03, 1/16/07, 9/14/07

4701-17-04 Scholarship procedure; fund balance.

(A) The following general procedures apply to tier one scholarships:

(1) Tier one scholarship commitments have priority over tier two grants.

(2) The amount of a tier one scholarship commitment shall not exceed the annualized maximum in-state undergraduate tuition charged by a state-supported Ohio college or university.

(B) The following procedures apply to students receiving tier one scholarships:

(1) A scholarship grant cannot be used for coursework in excess of that required by division (D)(1)(b) of section 4701.06 of the Revised Code and rule 4701-3-03 of the Administrative Code.

(2) A scholarship grant shall not exceed either the commitment amount, or the student's actual tuition less any other financial aid, whichever is less.

(3) Scholarship grants for full-time students may be prorated over two semesters or three quarters.

(4) Scholarship grants for part-time students are prorated based on the number of credits taken by the student per semester or quarter.

(5) There is no carryover of unused funds allocated for a specific academic term to any subsequent academic term.

(C) The total dollar amount of expected future payments arising from tier one scholarship commitments plus tier two grants shall not exceed the dollar amount in the education assistance fund as of the date of the commitments or grants, without regard to estimated future income.

Replaces: 4701-17-04

Effective: 08/22/2010
R.C. 119.032 review dates: 08/22/2015
Promulgated Under: 119.03
Statutory Authority: 4701.26
Rule Amplifies: 4701.26
Prior Effective Dates: 6/2/94, 3/16/98, 9/23/99, 5/4/01, 5/7/03, 7/31/03, 1/16/07

4701-17-06 Publicity and necessary expenses.

(A) Twice each year, assuming available funds, the board shall announce to qualifying Ohio colleges and universities the availability of tier one scholarship commitments. The board shall send by electronic mail an announcement to appropriate college or university academic accountancy personnel, including the following:

(1) The chair of the department of accountancy or equivalent position, and

(2) Faculty in the college or university department of accountancy who wish to be informed of the availability of scholarship funds.

(B) The board shall also maintain a list of Ohio high schools and other organizations that wish to receive information concerning tier one scholarship commitments by electronic mail.

(C) The board must approve any payment from the education assistance fund for necessary expenses related to the education assistance program other than tier one scholarship grants defined in paragraph (D) of rule 4701-17-01 of the Administrative Code, or tier two grants defined in paragraph (E) of rule 4701-17-01 of the Administrative Code.

Effective: 08/22/2010
R.C. 119.032 review dates: 06/07/2010 and 08/22/2015
Promulgated Under: 119.03
Statutory Authority: 4701.26
Rule Amplifies: 4701.26
Prior Effective Dates: 6/2/94, 8/3/98, 1/1/99, 9/23/99, 5/7/03, 1/16/07

4701-17-08 Education assistance surcharge.

(A) The board, in accordance with the provisions of division (H)(1) of section 4701.10 of the Revised Code, shall assess an education assistance surcharge in addition to the triennial Ohio permit and Ohio registration fee imposed pursuant to divisions (A) and (B) of section 4701.10 of the Revised Code, respectively, in the amount of thirty dollars.

(B) The board may prorate the education assistance surcharge in cases where it issues Ohio permits or Ohio registrations for less than three years.

(C) The total amount of education assistance surcharges shall be designated for deposit in the certified public accountant education assistance fund, in accordance with the provisions of division (H)(2) of section 4701.10 of the Revised Code.

Replaces: 4701-17-08

Effective: 12/14/2012
R.C. 119.032 review dates: 12/14/2017
Promulgated Under: 119.03
Statutory Authority: 4701.26
Rule Amplifies: 4701.26
Prior Effective Dates: 11/4/94, 4/4/03, 1/3/07