South Carolina Code of Regulations › Chapter 62 - STATE COMMISSION ON HIGHER EDUCATION › Article III - STUDENT AND INSTITUTION ASSISTANCE › Subarticle C - SOUTH CAROLINA NEED-BASED GRANTS PROGRAM › Section 62-490 - Institutional Disbursement of Need-based Grants

Current through Register Vol. 48, No. 6, June 28, 2024
A. The participating institution will
				identify award amounts, which cannot exceed $1,750 per eligible part-time
				student and $3,500 per eligible full-time student per academic year. A maximum
				of fifty percent of the annual award amount may be disbursed in a given term of
				the academic year, not to exceed 100 percent over the course of three terms of
				the academic year. Students who meet satisfactory academic progress (see
				62-475. D.) may not receive Need-based Grant funding totaling more than $14,000
				if the students are seeking their first baccalaureate degree or a program of
				study that is structured so as not to require a baccalaureate degree and leads
				to a graduate degree, $7,000 if the students are seeking their first
				associate's degree, or $3,500 if the students are seeking their first one-year
				certificate or diploma
.
Students who have obtained an
				associate's degree initially are eligible to apply for a Need-based Grant upon
				enrollment in their first baccalaureate degree or a program of study that is
				structured so as not to require a baccalaureate degree. Students who have
				obtained a recognized educational credential in a one-year program initially
				are eligible for application for a Need-based Grant upon enrollment in their
				first associate's degree, first baccalaureate degree, or a program of study
				that is structured so as not to require a baccalaureate degree and leads to a
				graduate degree.
B. A Need-based
				Grant may not be applied to a second baccalaureate degree or to graduate
				coursework, unless the graduate coursework is required as part of a program of
				study that is structured so as not to require a baccalaureate degree as defined
				in the "Program Definitions" Section.
C. The institution shall provide an award
				notification each academic year to Need-based Grant recipients, which will
				contain the terms and conditions of the grant and other financial aid awarded.
				Students will be notified of adjustments in financial aid due to changes in
				eligibility and/or over-award issues. The Commission on Higher Education, for
				documentation purposes, requires that each institution obtain verification of
				acceptance of the Need-based Grant and terms for the award.
D. After the last day to register for each
				semester of the academic year, the institution will verify enrollment of each
				recipient as a South Carolina resident that is a part-time or full-time
				degree-seeking student. According to the Scholarship and Grant Programs
				Policies and Procedures Manual, a listing of eligible recipients by social
				security number with the award amounts for the semester will be sent to the
				Commission on Higher Education with the institution's request for funds. A
				year-end reconciliation report will be submitted to the Commission on Higher
				Education prior to June 30th. Any unused funds shall
				be refunded to the Commission on Higher Education no later than June
				30th of each fiscal year.
E. The student shall be required to provide a
				nationally recognized unique identifier in order for the institution to award,
				disburse, and/or transfer the student's state scholarship and/or grant to an
				eligible institution.