(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.
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