AASFAA Financial Aid Legislative Update April 10, 2018

STATE FINANCIAL AID UPDATE National Guard Tuition Assistance Governor’s Scholars Program Academic Challenge Scholarship Arkansas Workforce Challenge Scholarship Arkansas Future Grant (ARFuture)

National Guard Tuition Assistance Rosters are being handled through the FTP system similar to how we handle the MDS & LEO rosters. So far over 335 for eligible students have been uploaded to ADHE for spring 2018 Rosters don’t need to be submitted until end of semester Funds for fall 2017 have been requested and should be out by mid week. $1.4 million budget If more than 1.4 is waived we will give each school a share based on percentages If you waived 10% of the total waived you will receive 10% of total budget Do not expect this to be an issue this year.

Governor’s Scholars Program 778 students have been offered Governors Distinguished this year Starting with 2017 graduates the highest achieving student that resides in a county where no student qualified for the Governor’s Distinguished will be awarded $5,000 per year Must have a 3.0 and complete required hours to maintain eligibility Ability for students to drop from GDS to GS has been reinstated Student who is awarded GDS but does not maintain the 3.25 GPA can be dropped to GS as long as they have 3.0 GPA. Once dropped to GS they will be eligible to apply for ACSNT GDS Students who graduated high school prior to 2017 will drop to $4000/year

Academic Challenge Scholarship Expands the definition of Traditional Student to include a student that: Was enrolled at an institution of higher education in the immediately preceding academic year as a full-time, first-time freshman; Did not receive the Academic Challenge Scholarship in the year following high school graduation as a full-time, first-time freshman; Successfully completed at least 27 semester hours as a full-time, first-time freshman; and Achieved at least 2.5 GPA

Academic Challenge Scholarship Students are bring given choice on how they would like us to handle concurrent credit. Students may use their concurrent hours and be bumped to a higher award level. Those hours will be counted against their 120 hour limit Students can choose for us not to consider their concurrent hours which could give them the option of using ACS for a graduate or professional degree. Students can still be awarded for less than 15 hours their final semester before graduation but it will now be prorated instead of the full amount.

Academic Challenge Scholarship Students can still be awarded for less than 15 hours their final semester before completing four year degree but it will now be prorated instead of the full amount. 9-14 Hours will receive ¾ of the full amount 6-8 Hours will receive ½ of the full amount 1-5 Hours we will award $166.67 per hour.

Academic Challenge Scholarship Changes eligibility requirements for non-traditional student Eligibility requirements will be – If an applicant has not been enrolled in an approved institution of higher education Graduated from an Arkansas high school and achieved a 2.5 GPA or a 19 on the ACT or an ACT equivalent Graduated from a private high school, out-of-state high school, home school or obtained a GED and achieved a 19 on the ACT or an ACT equivalent If an applicant has been enrolled in an approved institution of higher education Earned a 2.5 college GPA

Arkansas Workforce Challenge Scholarship Funded by excess net lottery proceeds Non-renewable scholarship and will be awarded based upon availability of excess net lottery proceeds Eligibility Requirements include – Arkansas resident Cannot be a recipient of the Academic Challenge Scholarship Graduated from high school or obtained a GED Accepted for admission in a program of study that leads to a certificate or associate degree in one of the following high demand fields that is an in-demand occupation – Industry; Health Care; and Information Technology

Arkansas Workforce Challenge Scholarship Application should be available to students by late may. The list of approved programs is being built right now. Deadline of April 15th for schools to request programs be added.

Arkansas Workforce Challenge Scholarship Award amount will be the lesser of $800 or the cost of tuition, fees, books and equipment needed for a course Summer will be included if we have funding after fall and spring. An approved institution of higher education may enter into agreements with other institutions of higher education, including without limitation technical institutes, to allow students enrolled in the approved institution of higher education under this section to take courses at the other institutions of higher education.  

THE ARKANSAS FUTURE GRANT Students who finish Associate Degree will be allowed to defer work requirement if they are continuing education If student has part time job while receiving bachelors degree that can count toward the three year work requirement 2018-19 Almost 10,000 applications for 2018-19

ON THE HORIZON Governors Distinguished Be on the lookout for new qualifications for GDS Law calls for up to 375 awards per year Averaged over 700 awards last two years

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