(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:
(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.
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