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This website publishes administrative rules on their effective dates, as designated by the adopting state agencies, colleges, and universities.

Chapter 4701-17 | Scholarships

 
 
 
Rule
Rule 4701-17-01 | Education assistance program definitions.
 

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

(A) "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."

(B) "Scholarship" is defined as a one-time award of moneys to a qualifying student who meets the requirements or a program approved by the board that, supports CPA development and recruitment as defined in Chapter 4701-17 of the Administrative Code.

(C) "Fifth year" is defined as a student who has completed a minimum of one hundred twenty semester hours and is enrolled in a program of study that will meet the educational requirements outlined in division (A)(4)(a) of section 4701.06 of the Revised Code.

(D) "Accounting education program" means any five-year degree program approved by the board and offered by an Ohio college or university and meets the educational requirements outlined in division (A)(4)(a) of section 4701.06 of the Revised Code and rule 4701-3-03 of the Administrative Code.

(E) 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.

Last updated October 5, 2021 at 8:45 AM

Supplemental Information

Authorized By: 4701.26
Amplifies: 4701.26
Five Year Review Date: 9/1/2025
Prior Effective Dates: 5/7/2003
Rule 4701-17-02 | Scholarship eligibility criteria.
 

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

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

(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 (A)(4)(a) 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 (F) of rule 4701-17-01 of the Administrative Code.

(7) Additionally, an eligible recipient may be a person enrolled in a program that supports CPA development and recruitment, or CPA career awareness programs that have been approved by the board.

(B) Courses that qualify for inclusion in a scholarship payment are those which cover the subjects of accounting, business, data analytics, finance, information technology, or other subject matter approved by the executive director.

(C) 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.

Last updated October 5, 2021 at 8:45 AM

Supplemental Information

Authorized By: 4701.26
Amplifies: 4701.26
Five Year Review Date: 9/1/2025
Prior Effective Dates: 9/19/1994, 8/22/2010
Rule 4701-17-04 | Scholarship procedure; fund balance.
 

(A) The following general procedures apply to scholarships:

(1) Scholarships are awarded to students meeting the requirements set by rule 4701-17-02 of the Administrative Code.

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

(B) Payments are to be disbursed to the Ohio college or university on behalf of the student upon receipt of the following:

(1) An official invoice to the applicant from the Ohio college or university showing charges to be paid for the applicable term.

(2) A schedule of courses that certifies enrollment for a specific educational term.

(3) An affidavit submitted by the student, certifying the student will sit for the CPA examination within two years of the date the student meets educational requirements to sit for the CPA examination.

(C) The following procedures apply to students receiving scholarships:

(1) Scholarship awards cannot be used for coursework in excess of that required by division (A)(4)(a) of section 4701.06 of the Revised Code and rule 4701-3-03 of the Administrative Code.

(2) Scholarship awards shall not exceed the maximum amount payable as determined by the board, or the student's actual tuition less any other financial aid, whichever is less.

(3) Scholarship awards may be paid out as long as a student has not met the requirements for examination as set by division (A)(4)(a) of section 4701.06 of the Revised Code or payment has not exceeded the maximum amount payable per paragraph (C)(2) of this rule.

(4) Scholarship awards are valid for one year. If a grant recipient fails to use the scholarship money awarded during the one year period, the scholarship will expire.

Last updated October 5, 2021 at 8:45 AM

Supplemental Information

Authorized By: 4701.26
Amplifies: 4701.26
Five Year Review Date: 9/1/2025
Prior Effective Dates: 6/2/1994
Rule 4701-17-06 | Publicity and necessary expenses.
 

(A) The board may send by electronic mail an announcement regarding its education assistance fund 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 executive director, subject to board approval, must approve any payment from the education assistance fund for necessary expenses related to the education assistance program.

Supplemental Information

Authorized By: 4701.26
Amplifies: 4701.26
Five Year Review Date: 9/1/2025
Prior Effective Dates: 1/1/1999
Rule 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.

Supplemental Information

Authorized By: 4701.26
Amplifies: 4701.26
Five Year Review Date: 5/12/2025
Prior Effective Dates: 11/4/1994