13.0104 Allocations of available moneys.

Cite as [A.S.A.C. § 13.0104]

(a) By January 1,1990, not less than 10 percent of the moneys available in the fund each year shall be allocated to scholarships.

(b) The remainder of the moneys available in the fund each year shall be allocated to grants-in-aid, student loans and program expenses. The moneys allocated to grants-in-aid and student loans shall be determined by the board each year according to its assessment of the allocation most beneficial to American Samoa considering the amount of moneys available in the fund, priorities of designated areas of study or research of particular need and importance in American Samoa and the number of eligible and qualified applicants for grants-in-aid the number of eligible applicants having financial need for student loans and other relevant factors.

History: Rule 10-80. eff 20 Aug 80, § 4; repealed and replaced by Rule 1-88, eff 25 May 88, §§ 1,2.