July 14-15, 2005

ITEM 128-109-R0705   Approval of the 2006 Academic Year Scholarship awards per HB 435; Office Commissioner of Higher Education

THAT: The Board of Regents of Higher Education authorizes the Montana Guaranteed Student Loan Program to disburse scholarships for the 2006 academic year per the attached schedules.

EXPLANATION:   HB 435, the Governor's Postsecondary Scholarship Program, requires scholarships to be awarded in the 2006 academic year. Since the Advisory Council was just appointed, and since it is impossible to have an approved application and notification process in place prior to the beginning of Fall Semester, and since financial aid offices must have the ability to make awards prior to the beginning of the semester, the MGSLP is requesting the Board of Regents to authorize scholarship disbursements in academic year 2006 as per the attached schedules.

For merit awards, MGSLP has selected the next student in line for the MUS Honor Scholarship. For merit at-large and need-based awards, MGSLP has allocated scholarships to each eligible Montana postsecondary institution based upon FTE enrollment. Financial aid offices will be given instructions to make awards per the requirements of HB 435. MGSLP will work closely with each financial aid office to ensure compliance with HB 435, including a report to the Board of Regents detailing all awards.

This unusual awarding process will only be used in academic year 2006. Advisory Council members will soon be meeting to formulate suggestions for a permanent application and notification process that will meet all requirements of HB 435. These processes will be brought before the Board of Regents for approval once fully prepared.

ATTACHMENTS:   Governor's Postsecondary Scholarship Year 1 Implementation and Governor's Postsecondary Scholarship Year 1 Allocation Summary