20-3-361. Grants; individualized eligibility criteria; criteria for retention.

Subject to appropriations, the commission shall establish a needs based financial aid program to provide grants to eligible students for undergraduate level postsecondary education at qualified institutions. The maximum award amount per eligible student shall be $2,500 in total. The commission may provide for individualized eligibility criteria and grant amounts as determined to be the most appropriate for the particular qualified institution and its student population in accordance with this subpart and the rules and regulations of the commission. The commission shall also establish criteria necessary for eligible students to retain and continue to receive such grants in accordance with this subpart.