A participating eligible institution shall award a South Dakota need-based grant to a qualified student for the normal academic year, or its equivalent, from a range of not less than five hundred dollars nor more than two thousand dollars. The institution making the recommendation for each South Dakota need-based grant shall consider any other financial assistance available to the qualified student in relation to the financial assistance available to other qualified students attending that institution and may not exceed the lesser of the unmet need of the qualified student or the amount of qualifying matching aid.

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Source: SL 1974, ch 141, § 5; SL 1981, ch 159, § 3; SL 1982, ch 156, § 1; SL 2010, ch 104, § 4; SL 2013, ch 92, § 4, eff. Mar. 12, 2013.