AASFAA Financial Aid Legislative Update October 12, 2017

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 for NGTA will be handled through the FTP system similar to how we handle the MDS & LEO rosters. So far over 200 eligible students have been uploaded to ADHE and all uploaded to FTP Rosters don’t need to be submitted until end of semester Reimbursements will not be made to schools until after the spring term. $1.4 million budget If more 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

Governor’s Scholars Program 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–renewal hrs. match ACS and GDS 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 Academic Challenge Scholarship Act 315 Expands the definition of Traditional Student to include a student that: Did not receive the Academic Challenge Scholarship in the year following high school graduation but was enrolled 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 Students under 27 hrs. can still be eligible as ACSNT All eligible traditional students are awarded Eligible non-traditional students are not guaranteed to be awarded.

Academic Challenge Scholarship ACT 597 Students now 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.

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 ACT 1008 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 completed any college hours since high school graduation Earned a 2.5 college GPA

Arkansas Workforce Challenge Scholarship ACT 613 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 ACT 613(cont.) ADHE will distribute scholarships from the funds available in an equal amount to every student eligible with a maximum annual scholarship award of the lesser of $800 or the cost of tuition, fees, books and equipment needed for a course If funds remain available after Fall & Spring awarded are made, then the scholarship can be distributed for a summer term 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 2017-18 4,863 applied So far 734 have been offered 243 have accepted Deadline to accept is October 15th 2018-19 1250 Applications as of 10/11/17 Deadline for HD programs to be added is December 1, 2017

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 Mentor Requirement for fall 2017 reduced to 3 meetings Standard is 4 times

ON THE HORIZON Governors Distinguished Be on the lookout for new qualifications for GDS Law calls for up to 375 awards per year Averaged 650 over last two years

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