Vermont Statutes Title 16 Sec. 2844
Terms Used In Vermont Statutes Title 16 Sec. 2844
- Adjusted gross income: means an individual's adjusted gross income under the laws of the United States relating to federal income taxes for the tax year next preceding the school year for which a grant or loan is sought. See
- Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
- Approved postsecondary education institution: means any institution of postsecondary education that is:
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Board: means the Board of Directors of the Vermont Student Assistance Corporation. See
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Corporation: means the Vermont Student Assistance Corporation. See
- Parents: means a student's parent or parents as determined by the Corporation consistently with the requirements of the federal financial assistance programs established under Title IV of the Higher Education Act. See
- Resident: means , with respect to a student, a student who has been domiciled in Vermont for the year preceding the date of commencement of the relevant semester or academic program. See
- School year: means the year beginning July 1 and ending the next June 30. See
- Student: means any person who:
§ 2844. Amount received; proration
(a) Each undergraduate student who qualifies for an incentive grant shall apply on forms provided by the Corporation. The Corporation may consider the student for an incentive grant if the student meets the need-based eligibility standards established by the Board. These standards shall give due consideration to all relevant factors affecting the student’s need, including the adjusted gross income and other sources of income of the student’s parents; the adjusted gross income and other sources of income of a nondependent student; the assets of parents and students; the number of a parent’s or nondependent student’s children who are students enrolled in approved postsecondary education institutions at the same time; and any unusual circumstances that affect the family financial strength. Incentive grants shall be awarded on a rolling basis to eligible applicants based upon established need, and in total amount shall not exceed the funds made available from legislative appropriation or other sources. In no case shall a student’s award be larger than that needed to attend the approved postsecondary education institution of the student’s choice.
(b) The Corporation may prorate incentive grants on the basis of semesters, other recognized portions of a school year, or course load.
(c) Vermont resident students enrolled at the Medical College of the University of Vermont or enrolled in a program leading to the degree of Doctor of Veterinary Medicine shall be eligible to apply for an incentive grant and shall be subject to the provisions of subsection (b) of this section. In addition, veterinary students shall be eligible for grants not to exceed twice the amount of the average grant award made to full-time undergraduate students in the previous year under subsection (a) of this section. (Added 1965, No. 198, § 5(c), (h); amended 1967, No. 131,§§ 6, 7; 1967, No. 371 (Adj. Sess.), § 4, eff. March 27, 1968; 1969, No. 89; 1971, No. 175 (Adj. Sess.), § 2, eff. March 28, 1972; 1975, No. 155 (Adj. Sess.); 1995, No. 63, § 188; 2003, No. 86 (Adj. Sess.), § 14; 2013, No. 92 (Adj. Sess.), § 186, eff. Feb. 14, 2014.)