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 certification 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.
(D) The board may use enforcement or collections action to recover scholarship payments awarded to recipients who fail to sit for the CPA examination as set forth in paragraph (B)(3) of this rule.
Last updated October 20, 2021 at 12:00 PM
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