DATE:�������������� July 6, 2005


TO:������������������ Governor Schweitzer, Board of Regents, Superintendent McCulloch, Board of Public Education, Steve Melloy


FROM:������������� Sheila M. Stearns, Commissioner of Higher Education


RE:������������������ HB 435 � The Governor�s Postsecondary Scholarship Program - Item Number 128-109-R0705

At the upcoming July 14th, 2005, Board of Regents Meeting in Great Falls, Item number 128-109-R0705 will come before the Board for approval.� This item is a request from my office, and specifically the Montana Guaranteed Student Loan Program, for the Board to approve the scholarship awards for the 2006 academic year.� Timing and the requirements of HB 435 require us to handle the first year�s disbursements in a unique manner.


I have asked the Director of the Montana Guaranteed Student Loan Program, Bruce Marks, to provide an explanation of Item number 128-109-R0705 in advance of the meeting, and the interaction thus far with the Governor�s Advisory Council on this proposal.� Feel free to contact either Bruce or me if you have any questions or concerns regarding the 2006 academic year disbursements.� His explanation is attached.