November 16-18, 2005

 ITEM 129-102-R1105  Selection and Disbursement Policies for the Governor's Postsecondary Scholarship Program

THAT: The Board of Regents of Higher Education, upon consultation with the Governor's Advisory Council, shall approve selection and disbursement policies for the Governor's Postsecondary Scholarship Program.

EXPLANATION: HB 435 in the 2005 Legislature created the Governor's Postsecondary Scholarship Program. Statute directs the Board of Regents, working with the 3-person Advisory Council, to develop policies for the implementation, awarding, and disbursing of scholarships. Working with the Montana Guaranteed Student Loan Program, the Council is recommending a policy that divides the program into 3 areas: Merit, At-large Merit, and Need-based scholarships. The top-achieving, qualifying student from each of Montana's accredited high schools would receive a merit scholarship. Students hoping for an at-large scholarship will apply to the MGSLP. Need based scholarships will be determined by financial aid offices at qualifying schools with the number of scholarships available based upon an FTE formula.