Nebraska Statutes 85-1912. Target level of funds; computation
In order to reduce the costs of administering the Nebraska Opportunity Grant Act, the commission shall identify a target level of funds to be distributed to students pursuant to the act at each eligible postsecondary educational institution. The target level of funds shall represent the maximum amount that may be awarded pursuant to the act to eligible students enrolled in such eligible postsecondary educational institution. To determine the target level of funds for each eligible postsecondary educational institution, the commission shall:
Terms Used In Nebraska Statutes 85-1912
- Award: means a grant of money by the commission to an eligible student for educational expenses. See Nebraska Statutes 85-1903
- Commission: means the Coordinating Commission for Postsecondary Education. See Nebraska Statutes 85-1905
- Eligible postsecondary educational institution: means a public or private postsecondary educational institution:
(a) Located in Nebraska. See Nebraska Statutes 85-1906
- State: when applied to different states of the United States shall be construed to extend to and include the District of Columbia and the several territories organized by Congress. See Nebraska Statutes 49-801
- Tuition and mandatory fees: means the lesser of the student costs for tuition and mandatory fees for a full-time, resident, undergraduate student for the last completed award year at the eligible postsecondary educational institution or the student costs for tuition and mandatory fees for a full-time, resident, undergraduate student for the last completed award year at the University of Nebraska-Lincoln. See Nebraska Statutes 85-1909
- Year: shall mean calendar year. See Nebraska Statutes 49-801
(1) Determine the number of eligible full-time-equivalent students enrolled at the eligible postsecondary educational institution for the last completed award year;
(2) Multiply the number determined in subdivision (1) of this section by the tuition and mandatory fees as limited pursuant to section 85-1909 ;
(3) Divide the product derived pursuant to subdivision (2) of this section for each eligible postsecondary educational institution by the sum of the products derived pursuant to subdivision (2) of this section for all eligible postsecondary educational institutions; and
(4) Multiply the total of federal and state funds appropriated for purposes of distribution pursuant to the act by the ratio derived pursuant to subdivision (3) of this section.