SF 3514

as introduced - 90th Legislature (2017 - 2018) Posted on 04/10/2018 08:44am

A bill for an act
relating to higher education; amending certain state grant provisions; amending
Minnesota Statutes 2016, section 136A.121, subdivision 5.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

Section 1.

Minnesota Statutes 2016, section 136A.121, subdivision 5, is amended to read:

Subd. 5.

Grant stipends.

new text begin (a) new text end The grant stipend shall be based on a sharing of
responsibility for covering the recognized cost of attendance by the applicant, the applicant's
family, and the government. The amount of a financial stipend must not exceed a grant
applicant's recognized cost of attendance, as defined in subdivision 6, after deducting the
following:

(1) the assigned student responsibility deleted text begin of at least 50 percent of the cost of attending the
institution of the applicant's choosing deleted text end new text begin described in paragraph (c) new text end ;

(2) the assigned family responsibility as defined in section 136A.101; and

(3) the amount of a federal Pell grant award for which the grant applicant is eligible.

new text begin (b) new text end The minimum financial stipend is $100 per academic year.

new text begin (c) The assigned student responsibility equals the following percentages of the cost of
attending the institution of the applicant's choosing:
new text end

new text begin (1) in fiscal year 2019, 47 percent;
new text end

new text begin (2) in fiscal years 2020 and 2021, 44 percent;
new text end

new text begin (3) in fiscal years 2022 and 2023, 41 percent; and
new text end

new text begin (4) 38 percent thereafter.
new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective July 1, 2018.
new text end