2006 Nebraska Revised Statutes - § 85-1912 — Target level of funds; computation.

Section 85-1912
Target level of funds; computation.

In order to reduce the costs of administering the Nebraska Scholarship 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. The target level of funds for each eligible postsecondary educational institution shall be determined as follows:

(1) For award years prior to the 2006-07 award year for eligible postsecondary educational institutions when the student cost for tuition and mandatory fees for a full-time, resident, undergraduate student for the last completed award year at the eligible postsecondary educational institution was greater than the student cost for tuition and mandatory fees for a full-time, resident, undergraduate student for the last completed award year at the University of Nebraska-Lincoln:

(a) Determine the number of eligible full-time-equivalent students enrolled at the eligible postsecondary educational institution for the last completed award year;

(b) Determine the number of eligible full-time-equivalent students enrolled at the eligible postsecondary educational institution for the last completed award year who received an award pursuant to the Postsecondary Education Award Program Act, the Scholarship Assistance Program Act, or the State Scholarship Award Program Act for the 2002-03 award year;

(c) For the 2003-04 award year, multiply the number determined in subdivision (1)(b) of this section by the ratio equal to the number of eligible full-time-equivalent students who received an award pursuant to the Postsecondary Education Award Program Act, the Scholarship Assistance Program Act, or the State Scholarship Award Program Act for both the 2002-03 award year and the 2001-02 award year at the eligible postsecondary educational institution divided by the number of eligible full-time-equivalent students who received an award pursuant to the Postsecondary Education Award Program Act, the Scholarship Assistance Program Act, or the State Scholarship Award Program Act for the 2001-02 award year at the eligible postsecondary educational institution;

(d) For the 2004-05 award year, multiply the number determined in subdivision (1)(b) of this section by the ratio equal to the number of eligible full-time-equivalent students who received both an award pursuant to the Nebraska Scholarship Act for the 2003-04 award year and an award pursuant to the Postsecondary Education Award Program Act, the Scholarship Assistance Program Act, or the State Scholarship Award Program Act for the 2001-02 award year at the eligible postsecondary educational institution divided by the number of eligible full-time-equivalent students who received an award pursuant to the Postsecondary Education Award Program Act, the Scholarship Assistance Program Act, or the State Scholarship Award Program Act for both the 2002-03 award year and the 2001-02 award year at the eligible postsecondary educational institution;

(e) For the 2005-06 award year, multiply the number determined in subdivision (1)(b) of this section by the ratio equal to the number of eligible full-time-equivalent students who received both an award pursuant to the Nebraska Scholarship Act for the 2004-05 award year and an award pursuant to the Postsecondary Education Award Program Act, the Scholarship Assistance Program Act, or the State Scholarship Award Program Act for the 2001-02 award year at the eligible postsecondary educational institution divided by the number of eligible full-time-equivalent students enrolled at the eligible postsecondary educational institution who received both an award pursuant to the Nebraska Scholarship Act for the 2003-04 award year and an award pursuant to the Postsecondary Education Award Program Act, the Scholarship Assistance Program Act, or the State Scholarship Award Program Act for the 2001-02 award year at the eligible postsecondary educational institution;

(f) Multiply the difference of the number determined pursuant to subdivision (1)(a) of this section minus the number determined pursuant to subdivision (1)(c), (d), or (e) of this section by the tuition and mandatory fees determined pursuant to subdivision (2) of section 85-1909;

(g) Multiply the number determined pursuant to subdivision (1)(c), (d), or (e) of this section by the tuition and mandatory fees determined pursuant to subdivision (1) of section 85-1909;

(h) Divide the sum of the products derived pursuant to subdivisions (1)(f) and (g) of this section for each eligible postsecondary educational institution by the sum of the products derived pursuant to subdivisions (1)(f) and (g) and (2)(b) of this section for all eligible postsecondary educational institutions; and

(i) Multiply the total of federal and state funds appropriated for purposes of distribution pursuant to the Nebraska Scholarship Act by the ratio derived pursuant to subdivision (1)(h) of this section; and

(2) For award years prior to 2006-07 for eligible postsecondary educational institutions when 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 was less than or equal to 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 and for the 2006-07 award year and each award year thereafter for all eligible postsecondary educational institutions:

(a) Determine the number of eligible full-time-equivalent students enrolled at the eligible postsecondary educational institution for the last completed award year;

(b) Multiply the number determined in subdivision (2)(a) of this section by the tuition and mandatory fees as limited pursuant to subdivision (2) of section 85-1909;

(c) Divide the product derived pursuant to subdivision (2)(b) of this section for each eligible postsecondary educational institution by the sum of the products derived pursuant to subdivisions (1)(f) and (g) and (2)(b) of this section for all eligible postsecondary educational institutions; and

(d) Multiply the total of federal and state funds appropriated for purposes of distribution pursuant to the act by the ratio derived pursuant to subdivision (2)(c) of this section.

Source:

Laws 2003, LB 574, § 12

Laws 2004, LB 1107, § 2

~Revised Statutes Cumulative Supplement, 2006