R765-611-6. Allocation of Program Funds to Eligible Institutions

(1) The Board shall annually allocate money appropriated for the program to eligible institutions based on the proportion of each institution's students who: (a) are Utah residents, as defined under Section 53H-11-202 and Board Policy R512, or exempt from paying the nonresident portion of total tuition under Section 53H-11-203; (b) are Veterans, as defined in Subsection 68-3-12.5(42)(a) and Board Policy R512; and (c) graduate with a baccalaureate degree in the most recently completed academic year. (2) The Board may annually distribute a minimum allocation, to be set by OCHE scholarship staff, to participating institutions that do not have enough eligible graduates to receive a meaningful allocation. (3) The program administrator shall send official notification of each participating eligible institution's allocation to the institution's director of financial aid each fiscal year.