17 Guam Code Ann. § 15303
Terms Used In 17 Guam Code Ann. § 15303
- Annual percentage rate: The cost of credit at a yearly rate. It is calculated in a standard way, taking the average compound interest rate over the term of the loan so borrowers can compare loans. Lenders are required by law to disclose a card account's APR. Source: FDIC
- Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
SOURCE: Added by P.L. 25-086:3 (Nov. 23, 1999).
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ARTICLE 3A
MERIT AWARDS TO THE UNIVERSITY OF GUAM. (FOR ACADEMIC YEARS 2000-2001 AND THEREAFTER)
2019 NOTE: Pursuant to P.L. 31-237:3 (Dec. 6, 2012), starting with Award Year 2013-2014, financial assistance awards would be granted only as provided by Chapter 28 of Title 17, Guam Code Ann., which provides that Merit Awards to the University of Guam are granted pursuant to Article 2.
§ 15A301. Students Entitled to Merit Awards.
§ 15A302. Benefits.
§ 15A303. Service Credit.
§ 15A304. Rules and Regulations.
§ 15A305. Applicability of this Article.
§ 15A301. Students Entitled to Merit Awards.
(a) There are established annual Merit Awards for high school students in the graduating classes of a public and private high school licensed to do business on Guam now or hereafter established. The students entitled to these awards shall be the students having the highest scholastic standing in the graduating classes of each such public and non-public high school on Guam. The awards shall be determined as follows:
(1) One for every fifty (50) graduates or fraction thereof of a school’s graduating class. If as a result of the equal scholastic standing of two (2) or more graduates, there is a tie for the awards granted pursuant to this Chapter, the University of Guam shall provide a mechanism to break the tie. Awardees are entitled to four (4) years of education at the University of Guam. However, if the awardee is the top- ranked student academically of that person’s graduating class, and such awardee’s major is unavailable at the University of Guam, the awardee may attend any accredited college or university in the United States, or one recognized by the Council for Higher Education Accreditation (CHEA), or its successors, where such declared major is available. The benefits are according to the amounts provided in § 15A302 of this Article, plus the cost of airfare for one-way, economy airline ticket to the school of attendance and one- way ticket to return to Guam upon completion of studies.
(2) Of the students receiving awards in Subsection (1), supra, who attend and graduate from the University of Guam, the top two (2) awardees per graduating class shall be entitled to an additional two (2) years of study for a Master’s Degree at the University of Guam after completion of the bachelor’s program awarded under the provisions of Subsection (1). In the event that, as a result of graduating class size, only one student is entitled to an award under Subsection (1), supra, then only one student shall be eligible for an award under this Subsection. The benefits are according to the amounts provided in § 15A302 of this Article.
All awards shall be subject to the following limitations: A recipient must be a:
(A) United States citizens, or a permanent resident alien, who has completed a minimum of three (3) but no more than four (4) academic years and meets all academic credit requirements for graduation during attendance in a public, non-public, or DODEA high school on Guam; and.
(B) a resident of Guam for a continuous period of not less than five (5) years immediately preceding June
15th of the year the award is to be awarded.
(3) To be eligible for a Merit Award, a student must have achieved a cumulative high school Grade Point Average of not less than 3.000 at the time of graduation.
(b) If any student is ineligible for an award because of failure to meet the requirements contained in Subsection (a) of this Section; or if any eligible student chooses not to accept an award when first offered such award, the award shall be granted to the eligible student with the next highest scholastic rank, or in the case of tie, the student that was eliminated by the tie-breaker. If an eligible student declines to accept an award when first
offered, such student cannot accept such an award after it has been granted to another student. The recipient of a merit award must notify the Board within thirty (30) days, that the award is accepted. If such recipient fails to do so, the award is thereby forfeited and the same shall be offered to the next alternate.
(c) Award recipients must agree that the recipient will work on Guam for a period of one (1) year for each academic year the award was received within six (6) months following the completion or termination of the course of studies for which the award was granted; provided, that if the recipient continues as a full-time student at a graduate or professional school, such recipient may defer work on Guam until such additional studies are completed.
Awards granted on or subsequent to the effective date of this Section shall be cancelled if a recipient:
(1) fails to maintain a cumulative grade point average of 2.5 or its equivalent, except a recipient may be allowed one (1) academic term to regain this average without cancellation of the award, or
(2) fails to meet the academic and/or other requirements governing full-time students at the University of Guam, except a recipient shall be allowed one (1) academic term in which to regain full-time student status before cancellation of such recipient’s award.
SOURCE: Added by P.L. 25-086:1 (Nov. 23, 1999). Amended by P.L.
25-145:3 (June 2, 2000). Subsection (a)(1) amended by P.L. 26-042:3 (Oct. 5, 2001). Subsection (a) amended by P.L. 28-110:1 (April 14,
2006). Subsection (a)(3) added by P.L. 28-139:1 (July 11, 2006).
Subsection (a)(2)(i) amended by P.L. 29-002:VI:21 (May 18, 2007).
2012 NOTE: In maintaining the general codification scheme of the GCA the Compiler changed the hierarchy of subsections beginning with “”Lowercase Roman Numerals”” to “”Uppercase Letters”” in subsection (a)(2).
§ 15A302. Benefits.
Students entitled to merit awards pursuant to this Article shall receive the following benefits:
(a) Tuition to Attend School. Tuition and fees for each academic year to be paid by the Student Financial Assistance Fund for a period of not more than four (4) years in an undergraduate program at the University of Guam. For awards granted under § 15A301(a)(2) of this Article, students shall receive an additional two (2) years of tuition and fees for a graduate degree upon successful completion of undergraduate studies and admission requirements for graduate school.
(b) Stipend. Award recipients are entitled to a monthly stipend to be disbursed in nine (9) monthly installments during the academic year, as follows:
(A) First-Year and Second-Year Students: Three
Hundred Dollars ($300.00) per month;
(B) Third-Year and Fourth-Year Students: Five Hundred Dollars ($500.00) per month. For graduate students, Six Hundred Dollars ($600.00) per month to be disbursed in nine (9) monthly installments during the academic year.
(c) Allowance for Textbooks. Each student receiving an award under this Article shall be entitled to an additional Two-hundred Fifty Dollars ($250.00) per semester for textbooks to be disbursed prior to the first day that classes begin.
(d) Optional Inter-Session Allowed.
(1) Summer. Each student shall be entitled to tuition, fees and textbooks for inter-session courses on a full-time basis.
(2) Between Fall and Spring Semesters. Each student shall be entitled to tuition, fees and textbooks for inter-session courses on a full-time basis. Students attending inter-session between the Fall and Spring Semesters shall not be entitled to an additional stipend.
(e) For those authorized to attend school off-Guam as provided for herein, the amount of assistance shall not
exceed the amount of assistance for a student attending school at the University of Guam.
SOURCE: Added by P.L. 25-086:1 (Nov. 23, 1999). Amended by P.L.
26-042:1 (Oct. 5, 2001).
2013 NOTE: Pursuant to the authority granted by 1 GCA § 1606, lowercase roman numerals and/or letters in subsection (b) were altered to adhere to the Compiler’s alpha-numeric scheme.
§ 15A303. Service Credit.
The financial assistance granted under this Article shall be repaid on a one-to-one basis for each year that assistance was provided through employment on Guam or in the office of Guam’s Delegate to Congress. In the event that any portion of the assistance is not repaid through service credit, the amount unpaid in service credit shall become due and payable.
(a) In calculating the amount due and payable for failure to pay through service credit, the amount due shall be the total amount of assistance minus the number of years repaid through service credit. For purposes of this Section, a year of service credit is twelve (12) months. The Board of Regents may also extend payment of cash repayment, via a promissory note, for a term not to exceed ten (10) years at an annual percentage rate of not less than ten percent (10%). No amounts shall be considered due and payable during the time in which the awardee is repaying service credit pursuant to the provisions herein.
(b) The Board of Regents may grant deferrals of repayment through service for the following reasons:
(1) pursuit of a graduate degree; or
(2) a family or medical emergency.
(c) Any awardee granted an award pursuant to the provision of this Article must commence work on Guam within six (6) months following the completion of studies, unless as extended by the Board for extenuating circumstances; or will be in default as of the date classes ended. The permanent transfer to an off-island office or branch of a Guam employer shall not count towards service
credit and shall result in default on the date of transfer and interest shall begin on such date of default. Permanent transfers, for purposes of this Section, are those that are longer than six (6) months. The Board shall establish such policies prescribing the length and terms of repayment, the interest rate to be charged, the collection of delinquent accounts or in the event of default.
(d) If any temporary leave of absence is expected to last longer than forty-five (45) days, the awardee shall inform the University of Guam of the length of time expected to be off-island, the reason for such time off-Island and the address while off-island. As long as the employee remains employed on Guam while off-island temporarily, the employee shall receive service credit for such employment, during the time the employee is off-island for the purposes described herein.
(e) Death or total disability of the student shall terminate any obligations herein. Total disability for purposes of this Section is defined as any physiological or psychological condition that will prevent the awardee from obtaining or maintaining any form of gainful employment for a period of not less than three (3) years. The Board may defer repayment for temporary disability. Total disability requires the certification of two (2) physicians licensed to practice on Guam.
SOURCE: Added by P.L. 25-086:1 (Nov. 23, 1999).
§ 15A304. Rules and Regulations.
The University of Guam shall develop appropriate rules and regulations for the administration of this Article.
SOURCE: Added by P.L. 25-086:1 (Nov. 23, 1999).
§ 15A305. Applicability of This Article.
This Article shall apply only to awards made to high school students graduating during the School Year 2000 – 2001 and thereafter.
SOURCE: Added by P.L. 25-086:1 (Nov. 23, 1999). Amended by P.L.
25-145:4 (June 2, 2000).
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ARTICLE 4
PROFESSIONAL AND TECHNICAL AWARDS
2019 NOTE: Pursuant to P.L. 31-237:3 (Dec. 6, 2012), starting with Award Year 2013-2014, financial assistance awards would be granted only as provided by Chapter 28 of Title 17, Guam Code Ann., which provides that the Jesus U. Torres Professional and Technical Awards (For Academic Years 2013-2014 and Thereafter) are granted pursuant to Article 4.