Section Csp 602.01 - Allocations to Participating Institutions(a) The commission shall allocate funds to eligible institutions based on the distribution formula, which is recalculated each November and used to determine the initial institutional allocations for the subsequent fiscal year.(b) The commission shall determine annually, the total amount available for initial and subsequent allocation in the upcoming fiscal year, the maximum EFC, the date of receipt of the Free Application for Federal Student Aid (FAFSA) by the federal processor and the amount of the individual student award.(c) Initial institutional allocations shall be distributed in July of each fiscal year.(d) The distribution formula, as calculated by the commission, shall be based on the total full-time equivalent (FTE) undergraduate enrollment of New Hampshire residents, as reported by the eligible institution on or before November 1st.(e) Total FTE undergraduate New Hampshire resident enrollment shall be calculated by adding the full-time undergraduate New Hampshire resident enrollment to the total part-time FTE undergraduate New Hampshire resident enrollment. The part-time enrollment figure is multiplied by a factor used by the U.S. Department of Education's National Center for Educational Statistics (NCES), as defined by the glossary for the IPEDS surveys, to compute the FTE for the part-time enrollment figure.(f) The participating institution's initial allocation distribution percentage shall be determined by dividing the institution's total FTE undergraduate New Hampshire enrollment by the sum of the FTEs of all participating institutions.(g) Each participating institution's initial allocation shall be equal to the institution's distribution percentage multiplied by the total funds available for initial distribution.(h) Additional funds requested pursuant to Csp 601.05(c) and approved by the commission shall be paid by June 30 of the fiscal year for which an initial allocation has been distributed.N.H. Admin. Code § Csp 602.01
#7339, eff 8-3-00; ss by #8622, eff 5-4-06; ss by #9220, eff 8-01-08
Amended by Volume XXXVI Number 23, Filed June 9, 2016, Proposed by #11098, Effective 5/17/2016, Expires 5/17/2026.