Effective - 28 Aug 2018, 4 histories
173.1105. Award amounts, minimums and maximums — adjustment in awards, when. — 1. An applicant who is an undergraduate postsecondary student at an approved private, public, or virtual institution and who meets the other eligibility criteria shall be eligible for financial assistance, with a minimum and maximum award amount as follows:
(1) For academic years 2010-11, 2011-12, 2012-13, and 2013-14:
(a) One thousand dollars maximum and three hundred dollars minimum for students attending institutions classified as part of the public two-year sector;
(b) Two thousand one hundred fifty dollars maximum and one thousand dollars minimum for students attending institutions classified as part of the public four-year sector, including State Technical College of Missouri; and
(c) Four thousand six hundred dollars maximum and two thousand dollars minimum for students attending approved private institutions;
(2) For the 2014-15 academic year and subsequent years:
(a) One thousand three hundred dollars maximum and three hundred dollars minimum for students attending institutions classified as part of the public two-year sector; and
(b) Two thousand eight hundred fifty dollars maximum and one thousand five hundred dollars minimum for students attending institutions classified as part of the public four-year sector, including State Technical College of Missouri, approved private institutions, or approved virtual institutions.
2. All students with an expected family contribution of twelve thousand dollars or less shall receive at least the minimum award amount for his or her institution. Maximum award amounts for an eligible student with an expected family contribution above seven thousand dollars shall be reduced by ten percent of the maximum expected family contribution for his or her increment group. Any award amount shall be reduced by the amount of a student's payment from the A+ schools program or any successor program to it. For purposes of this subsection, the term "increment group" shall mean a group organized by expected family contribution in five hundred dollar increments into which all eligible students shall be placed.
3. If appropriated funds are insufficient to fund the program as described, the maximum award shall be reduced across all sectors by the percentage of the shortfall. If appropriated funds exceed the amount necessary to fund the program, the additional funds shall be used to increase the number of recipients by raising the cutoff for the expected family contribution rather than by increasing the size of the award.
4. Every three years, beginning with academic year 2009-10, the award amount may be adjusted to increase no more than the Consumer Price Index for All Urban Consumers (CPI-U), 1982-1984 = 100, not seasonally adjusted, as defined and officially recorded by the United States Department of Labor, or its successor agency, for the previous academic year. The coordinating board shall prepare a report prior to the legislative session for use of the general assembly and the governor in determining budget requests which shall include the amount of funds necessary to maintain full funding of the program based on the baseline established for the program upon the effective date of sections 173.1101 to 173.1107. Any increase in the award amount shall not become effective unless an increase in the amount of money appropriated to the program necessary to cover the increase in award amount is passed by the general assembly.
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(L. 2007 S.B. 389, A.L. 2010 S.B. 733, A.L. 2013 H.B. 673, A.L. 2018 H.B. 1744 merged with S.B. 603, et al. merged with S.B. 807 & 577)
Structure Missouri Revised Statutes
Title XI - Education and Libraries
Chapter 173 - Department of Higher Education and Workforce Development
Section 173.003 - Retirement and severance policies, uniformity requirement.
Section 173.007 - Commissioner of education, appointment by board — compensation — powers — duties.
Section 173.020 - Responsibilities of the coordinating board.
Section 173.030 - Additional responsibilities.
Section 173.035 - Resources, website directing students to — rulemaking authority.
Section 173.040 - Reports to governor and general assembly, contents.
Section 173.050 - Powers of coordinating board.
Section 173.081 - Rules and regulations, promulgation procedure.
Section 173.091 - Senior citizens' tuition exemption, qualifications, limitations, fee.
Section 173.093 - Limitations on awards of financial assistance.
Section 173.095 - Declaration of policy.
Section 173.100 - Definitions.
Section 173.105 - Board and department duties — required federal reports, submitted to whom.
Section 173.125 - Dispute resolution requirements.
Section 173.130 - Funds not currently needed may be invested, how.
Section 173.141 - Authorized actions of the board.
Section 173.150 - Recovery of loans.
Section 173.160 - Standards of eligibility for loans.
Section 173.170 - Standards of eligibility of loan agreements — discrimination prohibited.
Section 173.180 - Filing of regulations.
Section 173.186 - Guarantors of student loans, eligibility requirements.
Section 173.187 - Lender of last resort revolving fund, established, administration.
Section 173.252 - Interest, guaranty student loan fund, use of.
Section 173.258 - Director to deposit funds in kids' chance scholarship fund, when.
Section 173.270 - Foster care or residential care students, waiver of tuition and fees, when.
Section 173.275 - Foreign gifts to institutions — disclosure to department, when, how, contents.
Section 173.300 - Compact adopted.
Section 173.310 - Bylaws to be filed with secretary of state.
Section 173.320 - Selection of legislative members.
Section 173.330 - Commission members' expenses paid.
Section 173.350 - Citation of law.
Section 173.355 - Definitions.
Section 173.375 - Bond requirements for members of authority — filed where.
Section 173.380 - Conflict of interest, procedure to avoid.
Section 173.386 - Assets may not be used for payment of debt.
Section 173.387 - Authority may be originator of guaranteed student loan, conditions.
Section 173.393 - Misuse of moneys by recipient becomes liability, repayment of moneys.
Section 173.395 - Issuance of more than one series of bonds, requirements — refunding authorized.
Section 173.400 - Bonds construed to be negotiable instruments.
Section 173.410 - State or political subdivision not liable, statement on face of bond required.
Section 173.435 - Institutions and fiduciaries may invest in bonds.
Section 173.440 - Tax exemptions, bonds — exception.
Section 173.445 - Authority assigned to department of higher education — reports required.
Section 173.475 - No discrimination in hiring based on lack of a graduate degree, when.
Section 173.480 - Higher education capital fund created, use of moneys.
Section 173.600 - Definitions.
Section 173.602 - Certificate of approval required to offer courses for sale or solicit students.
Section 173.616 - Schools and courses that are exempt from sections 173.600 to 173.618.
Section 173.618 - Unlawful practices — injunction, board action — penalty.
Section 173.619 - Rules, promulgation.
Section 173.680 - Study on most frequent IT certifications requested by employers — report.
Section 173.700 - Midwestern higher education compact.
Section 173.705 - Midwestern higher education commission — members.
Section 173.708 - Membership of commission — terms — vacancies.
Section 173.730 - International student exchanges — matching funds.
Section 173.735 - Institutions of higher education, conflict of interest policy.
Section 173.754 - Unlawful use false or misleading degree, when — violation, penalty.
Section 173.775 - Citation — fund created.
Section 173.778 - Definitions.
Section 173.781 - High demand occupations and areas, board's duties.
Section 173.784 - Limitations on participation.
Section 173.787 - Loan forgiveness, when.
Section 173.790 - Contract for participation, terms and conditions.
Section 173.793 - Not a guarantee of admission, attendance, or graduation.
Section 173.796 - Tax credit for donations to fund — tax credits prohibited, when.
Section 173.1000 - Citation of law.
Section 173.1101 - Citation of law — references to program.
Section 173.1102 - Definitions.
Section 173.1103 - Board to administer program, duties of the board — fund created, use of moneys.
Section 173.1105 - Award amounts, minimums and maximums — adjustment in awards, when.
Section 173.1106 - Other financial assistance to be reported to board.
Section 173.1107 - Transfer of recipient, effect of.
Section 173.1108 - Inapplicability of sunset act.
Section 173.1350 - Grants authorized, amount, eligibility.
Section 173.1352 - Advanced placement exams, undergraduate course credit, when.
Section 173.1400 - Verification issued, when — form, information.
Section 173.2505 - Scholarship eligibility — amount of scholarship, limitation — fund created.