SF 2812

as introduced - 83rd Legislature (2003 - 2004) Posted on 12/15/2009 12:00am

  1.1                          A bill for an act 
  1.2             relating to higher education; modifying the 
  1.3             calculation of a state grant award; amending Minnesota 
  1.4             Statutes 2002, section 136A.121, subdivision 5.  
  1.5   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.6      Section 1.  Minnesota Statutes 2002, section 136A.121, 
  1.7   subdivision 5, is amended to read: 
  1.8      Subd. 5.  [GRANT STIPENDS.] (a) The grant stipend shall be 
  1.9   based on a sharing of responsibility for covering the recognized 
  1.10  cost of attendance by the applicant, the applicant's family, and 
  1.11  the government.  The amount of a financial stipend must not 
  1.12  exceed a grant applicant's recognized cost of attendance, as 
  1.13  defined in subdivision 6, after deducting the following:  
  1.14     (1) the assigned student responsibility of at least 46 
  1.15  percent of the cost of attending the institution of the 
  1.16  applicant's choosing; 
  1.17     (2) the assigned family responsibility as defined in 
  1.18  section 136A.101; and 
  1.19     (3) the amount of a federal Pell grant award for which the 
  1.20  grant applicant is eligible as determined under paragraph (b). 
  1.21     (b) Beginning in fiscal year 2005, the Pell grant deduction 
  1.22  is based on a maximum Pell grant of $4,050 and is equal to the 
  1.23  amount of the Pell grant award for the applicant in fiscal year 
  1.24  2004.  The minimum financial stipend is $100 per academic year.