Agency: State Board of Regents Line Item: Student Aid Function The State of Utah is the recipient of several campus-based federal financial aid programs. These are in addition to state funded programs. Funding Detail | Sources of Finance | 2005
Actual | 2006
Actual | 2007
Actual | 2008
Actual | 2009
Approp | | General Fund | $7,016,400 | $5,518,000 | $5,518,000 | $5,518,000 | $5,518,000 | | Education Fund | $253,600 | $530,000 | $1,030,000 | $3,677,800 | $4,677,800 | | Education Fund, One-time | $0 | $465,000 | $2,380,100 | $2,459,700 | $1,000,000 | | Federal Funds | $779,295 | $718,144 | $0 | $0 | $0 | | Beginning Nonlapsing | $200,911 | $38,797 | $0 | ($19,000) | $0 | | Closing Nonlapsing | ($38,797) | $0 | ($111,078) | $0 | $0 | | Total | $8,211,409 | $7,269,941 | $8,817,022 | $11,636,500 | $11,195,800 |
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| | Programs: | 2005
Actual | 2006
Actual | 2007
Actual | 2008
Actual | 2009
Approp | | Student Aid | $4,672,264 | $4,321,495 | $3,527,100 | $3,737,400 | $3,937,400 | | Engineering Loan Repayment Program | $50,000 | $50,000 | $50,000 | $50,000 | $50,000 | | Minority Scholarships | $47,100 | $47,100 | $47,100 | $47,100 | $47,100 | | Tuition Assistance | $47,100 | $47,100 | $47,100 | $47,100 | $47,100 | | New Century Scholarships | $583,145 | $620,446 | $911,922 | $1,771,100 | $2,130,400 | | Utah Centennial Opportunity Program for Education | $2,811,800 | $2,183,800 | $4,233,800 | $5,983,800 | $4,983,800 | | Total | $8,211,409 | $7,269,941 | $8,817,022 | $11,636,500 | $11,195,800 |
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| | Categories of Expenditure | 2005
Actual | 2006
Actual | 2007
Actual | 2008
Actual | 2009
Approp | | Current Expense | $5,255,409 | $0 | $0 | $0 | $0 | | Other Charges/Pass Thru | $2,956,000 | $7,269,941 | $8,817,022 | $11,636,500 | $11,195,800 | | Total | $8,211,409 | $7,269,941 | $8,817,022 | $11,636,500 | $11,195,800 |
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Subcommittee Table of ContentsProgram: Engineering Loan Repayment Program Function The Utah Engineering and Computer Science Loan Forgiveness Program (UECLP) began in 2001 as part of the Engineering and Computer Science initiative created by the Legislature and Governor. The program provides qualified engineering and computer science students with a certificate of forgiveness which guarantees that upon completion of the requirements for loan forgiveness, the recipient will receive a direct credit for reduction of outstanding principal balances of the recipient's outstanding Stafford and Perkins loans. Funding Detail | Sources of Finance | 2005
Actual | 2006
Actual | 2007
Actual | 2008
Actual | 2009
Approp | | General Fund | $50,000 | $50,000 | $50,000 | $50,000 | $50,000 | | Total | $50,000 | $50,000 | $50,000 | $50,000 | $50,000 |
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| | Categories of Expenditure | 2005
Actual | 2006
Actual | 2007
Actual | 2008
Actual | 2009
Approp | | Other Charges/Pass Thru | $50,000 | $50,000 | $50,000 | $50,000 | $50,000 | | Total | $50,000 | $50,000 | $50,000 | $50,000 | $50,000 |
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Subcommittee Table of ContentsProgram: Minority Scholarships Function Scholarships are available to minority students. Funding Detail | Sources of Finance | 2005
Actual | 2006
Actual | 2007
Actual | 2008
Actual | 2009
Approp | | General Fund | $47,100 | $47,100 | $47,100 | $47,100 | $47,100 | | Total | $47,100 | $47,100 | $47,100 | $47,100 | $47,100 |
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| | Categories of Expenditure | 2005
Actual | 2006
Actual | 2007
Actual | 2008
Actual | 2009
Approp | | Other Charges/Pass Thru | $47,100 | $47,100 | $47,100 | $47,100 | $47,100 | | Total | $47,100 | $47,100 | $47,100 | $47,100 | $47,100 |
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Subcommittee Table of ContentsProgram: Tuition Assistance Function The Utah Tuition Assistance Program started in 1998. Originally it was a matching endowment program to provide need-based scholarships. The 2007 Legislature modified the rules changing it to a need-based grant program. Funds are allocated to specific institutions identified in State Code. Statutory Authority The following laws govern the Student Aid Line Item in addition to the laws previously mentioned in Chapter II: - UCA 53B-7-502 outlines the administration of the Tuition Assistance Program
Funding Detail | Sources of Finance | 2005
Actual | 2006
Actual | 2007
Actual | 2008
Actual | 2009
Approp | | General Fund | $47,100 | $47,100 | $47,100 | $47,100 | $47,100 | | Total | $47,100 | $47,100 | $47,100 | $47,100 | $47,100 |
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| | Categories of Expenditure | 2005
Actual | 2006
Actual | 2007
Actual | 2008
Actual | 2009
Approp | | Other Charges/Pass Thru | $47,100 | $47,100 | $47,100 | $47,100 | $47,100 | | Total | $47,100 | $47,100 | $47,100 | $47,100 | $47,100 |
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Subcommittee Table of ContentsProgram: New Century Scholarships Function In the 1999 Legislative Session, Senate Bill 90, 'Higher Education Scholarships,' or as it is commonly known, 'New Century Scholarships' was passed. The New Century Scholarship provides a state-funded 75 percent tuition scholarship for up to 60 credit hours of study at a public or private 4-year college or university in Utah. To qualify, students must complete the requirements for an Associate's degree or the Math and Science Curriculum by September 1st after their regular high school class graduates. All students who meet these requirements with a cumulative GPA of 3.0 or higher are eligible for the scholarship. Statutory Authority The following laws govern the Student Aid Line Item in addition to the laws previously mentioned in Chapter II: - UCA 53B-8-105 Establishes the New Century Scholarship
Funding Detail | Sources of Finance | 2005
Actual | 2006
Actual | 2007
Actual | 2008
Actual | 2009
Approp | | General Fund | $480,200 | $73,200 | $73,200 | $73,200 | $73,200 | | Education Fund | $253,600 | $530,000 | $819,700 | $1,257,200 | $2,057,200 | | Education Fund, One-time | $0 | $0 | $130,100 | $459,700 | $0 | | Beginning Nonlapsing | ($133,409) | $17,246 | $0 | ($19,000) | $0 | | Closing Nonlapsing | ($17,246) | $0 | ($111,078) | $0 | $0 | | Total | $583,145 | $620,446 | $911,922 | $1,771,100 | $2,130,400 |
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| | Categories of Expenditure | 2005
Actual | 2006
Actual | 2007
Actual | 2008
Actual | 2009
Approp | | Current Expense | $583,145 | $0 | $0 | $0 | $0 | | Other Charges/Pass Thru | $0 | $620,446 | $911,922 | $1,771,100 | $2,130,400 | | Total | $583,145 | $620,446 | $911,922 | $1,771,100 | $2,130,400 |
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Subcommittee Table of ContentsProgram: Utah Centennial Opportunity Program for Education Function The Utah Centennial Opportunity Education Program for Education (UCOPE) was established in 1997 to provide state-funded, need-based financial aid for Utah resident students attending public and private universities and colleges in Utah. UCOPE is currently funded at nearly $4 million in ongoing funding. In order to keep pace with the increases in tuition and fees, the Board of Regents' policy (R510-3.8) states: 'When the Board's higher education appropriation recommendations contemplate tuition rate increases, the Board will consider including a request for a related appropriation increase for the Utah Centennial Opportunity Education Program for Education (UCOPE).' Statutory Authority The following laws govern the Student Aid Line Item in addition to the laws previously mentioned in Chapter II: - UCA 53B-13a outlines the administration of the UCOPE Program
Funding Detail | Sources of Finance | 2005
Actual | 2006
Actual | 2007
Actual | 2008
Actual | 2009
Approp | | General Fund | $2,811,800 | $1,983,800 | $1,983,800 | $1,983,800 | $1,983,800 | | Education Fund | $0 | $0 | $0 | $2,000,000 | $2,000,000 | | Education Fund, One-time | $0 | $200,000 | $2,250,000 | $2,000,000 | $1,000,000 | | Total | $2,811,800 | $2,183,800 | $4,233,800 | $5,983,800 | $4,983,800 |
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| | Categories of Expenditure | 2005
Actual | 2006
Actual | 2007
Actual | 2008
Actual | 2009
Approp | | Other Charges/Pass Thru | $2,811,800 | $2,183,800 | $4,233,800 | $5,983,800 | $4,983,800 | | Total | $2,811,800 | $2,183,800 | $4,233,800 | $5,983,800 | $4,983,800 |
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Subcommittee Table of Contents |