| (a) The Commissioner shall determine allocations on
an annual basis as follows:
(1) The allocation base for each eligible institution
will be the number of students it reported in the most recent certified
Financial Aid Database submission who met the following criteria:
(A) were enrolled as undergraduate students and had
not yet received a Bachelor's degree;
(B) were classified as having resident status, as determined
by chapter 21, subchapter B of this title (relating to Determination
of Resident Status);
(C) were enrolled full-time in either the fall or spring
semester; and
(D) have a nine-month Expected Family Contribution,
less than or equal to the amount established in §22.207(b) of
this subchapter (relating to Priorities in Grants to Students) for
the year reported in the Financial Aid Database submission.
(2) Each institution's percentage of the available
funds will equal its percentage of the state-wide number of students
who meet the criteria in paragraph (1) of this subsection.
(3) The Commissioner will complete allocations for
both years of the biennium at the same time. The Coordinating Board
will use the three most recent certified Financial Aid Database submissions
to forecast the data utilized in the calculation of the allocation
for the second year of the biennium. The Coordinating Board will provide
each institution with notification of their allocations for both years
of the biennium at the same time.
(b) Verification of Data. The Coordinating Board will
share allocation calculations with each participating institution
for comment and verification prior to final posting. Each institution
will have ten business days, beginning the day of the notice's distribution,
and excluding State holidays, to confirm that the allocation report
accurately reflects the data the institution submitted or to advise
the Coordinating Board of any inaccuracies.
(c) Reductions in Funding.
(1) If annual funding for the program is reduced after
the start of a fiscal year, the Commissioner may use any method necessary
to distribute the impact of reduced funding across all participating
institutions by an across-the-board percentage decrease in each institution's
allocation.
(2) If annual funding is reduced prior to the start
of a fiscal year, the Commissioner may recalculate the allocations
according to the allocation methodology outlined in this rule for
the affected fiscal year based on available dollars.
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