164.7927 Student financial aid and advancement trust fund.
428 words·~2 min read·
/ky/chapter-164/164-7927A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)The student financial aid and advancement trust fund created by KRS
164.7911 is intended to provide financial assistance that encourages student
access to postsecondary education including regionally accredited or
nationally accredited technical institutions and colleges, community colleges,
public universities, and regionally accredited private colleges and universities.
(b)Appropriations shall be made to the trust fund and allotted to universities and
the Kentucky Community and Technical College System or to the Kentucky
Higher Education Assistance Authority as the Council on Postsecondary
Education deems appropriate. Appropriations made to this trust fund may be
used for the College Access Program, the Kentucky Tuition Grant Program,
or other student financial aid programs as authorized by the General
Assembly.
(c)The council shall establish separate subsidiary programs and related accounts
that are consistent with this section, the adopted strategic agenda, the biennial
budget process, and the availability of any resources to the student financial
aid and advancement trust fund.
(a)The Council on Postsecondary Education, in consultation with the Kentucky
Higher Education Assistance Authority, shall determine the nature and
purposes of budget requests for funding support to the student financial aid
and advancement trust fund. The determination shall be based upon the
financial assistance needs and requirements of students of postsecondary
regionally accredited or nationally accredited private or public institutions.
(b)A minimum of twenty-five percent (25%) of the student financial aid and
advancement trust fund appropriation shall be allotted for the purpose of
assisting individuals whose available income, determined in accordance with
part F of Title IV of the Higher Education Act of 1965 as amended, is at or
below one hundred percent (100%) of the federal income poverty guidelines.
From the foregoing allotment, administrators of programs funded under this
section may exercise discretion in accordance with 20 U.S.C. sec. 1087tt in
awarding student financial assistance benefits on a case-by-case basis to
individuals with disabilities, as defined by Title II of the Americans with
Disabilities Act, 42 U.S.C. secs. 12131 et seq., whose available income is
above the federal income poverty guidelines, whether or not the student
qualifies for vocational rehabilitation services. Any funds remaining after all
eligible students have been served under this paragraph may be used for other
purposes as provided in this section.
(3)The council shall develop the criteria and process for submission of an application
under this section. Financial assistance that may be awarded by the council shall be
consistent with the adopted strategic agenda, the biennial budget process, and the
availability of any resources to the student financial aid and advancement trust
fund.