(a) Amount of funds allocated. The commissioner of postsecondary education shall allocate annually the appropriation for need-based scholarships and grants. Of the total amount appropriated for need-based scholarship and grants, the lesser of twenty percent (20%) or one million five hundred thousand dollars ($1,500,000) shall be distributed to qualified students attending participating, independent, non-profit, higher education institutions in Rhode Island. The remainder of funds shall be limited to public higher education institutions in Rhode Island including payments made pursuant to § 16-100-3(c). As part of the annual budget submission, the office of postsecondary commissioner shall include a plan of how the need-based scholarship and grant funds will be allocated to each public institution receiving funds pursuant to this chapter and how the funds will be distributed to students attending independent, non-profit institutions.
(b) Eligibility of individuals. Eligibility for need-based grants and scholarships shall be determined by the office of the postsecondary commissioner.
(c) Number and terms of awards. The number of awards to be granted in any one fiscal year shall be contingent upon the funds allocated to this section.
History of Section.
P.L. 1977, ch. 238, § 3; P.L. 1988, ch. 425, § 1; P.L. 1988, ch. 499, § 1; P.L. 2015, ch. 141, art. 7, § 4; P.L. 2019, ch. 88, art. 9, § 13.