Alaska Stat. § 14.43.825 – Maximum annual awards

(a) The maximum annual awards for the Alaska performance scholarships are as follows:
1. (1) the first award level is $7,000 and requires a (A) 3.5 grade-point average or above, or the equivalent established under (g) of this section; or
  1. (A) 3.5 grade-point average or above, or the equivalent established under (g) of this section; or
  2. (B) very high minimum score on a college entrance examination;
2. (2) the second award level is $5,250 and requires a
  1. (A) 3.0 grade-point average or above, or the equivalent established under (g) of this section; or
  2. (B) high minimum score on a college entrance examination;
3. (3) the third award level is $3,500 and requires a
  1. (A) 2.5 grade-point average or above, or the equivalent established under (g) of this section; or
  2. (B) moderately high minimum score on a college entrance examination.
(b) A student's eligibility for a scholarship terminates eight years after the date the student graduates from high school unless the student qualifies for an extension of time allowed by the department by regulation.
(c) Except as provided in (b) of this section, a student receiving a scholarship may remain eligible for up to eight semesters of enrollment in good standing at a qualified university or college, which may include graduate courses. A student's eligibility under this subsection is extended by one semester for each semester the student is enrolled part time in good standing at a qualified university or college.
(d) Scholarships may be awarded to a full-time student or, if a student is enrolled part time, prorated based on the number of credits. In this subsection, “full time” means enrollment in a course of study that is not less than 12 credits, and “part time” means enrollment in a course of study that is not less than six credits but less than 12 credits.
(e) The amount of a scholarship award may not exceed the amount of the student's costs of attendance as certified by the postsecondary institution for the purposes of federal financial aid, less any other scholarships or nonloan financial aid awarded to the student.
(f) Payment of a scholarship is subject to appropriation and the availability of funds for expenditure under AS 37.14.750. If insufficient funds are appropriated or available in a fiscal year to pay all eligible scholarships, the commission may not award a scholarship to a new applicant, and the commission shall pay existing awards on a pro rata basis for that fiscal year.
(g) For high schools that do not award grades on a four-point scale, or five-point scale for advanced placement classes, the department shall establish by regulation the equivalent rating required for a scholarship awarded under (a)(1)(A), (2)(A), and (3)(A) of this section.
(h) Each time a student who is an award recipient completes two semesters of full-time enrollment at a qualified postsecondary institution in this state, the postsecondary institution shall review and notify the commission of the student's postsecondary institution grade-point average. If the student's grades qualify under (i) of this section, the commission shall increase the award level for the student as described in (i) of this section and notify the student of the increase. In this subsection, “full-time enrollment” means enrollment in a course of study that is not less than 15 credits.
(i) If an award recipient's postsecondary institution grade-point average is
1. (1) 3.5 or above, or the equivalent established under (j) of this section, the commission shall increase the student's award level to the amount described in (a)(1) of this section;
2. (2) 3.0 or above, or the equivalent established under (j) of this section, the commission shall increase the student's award level to the amount described in (a)(2) of this section.
(j) For qualified postsecondary institutions that do not award grades on a four-point scale, the commission shall establish by regulation the equivalent rating required to increase an award under (i) of this section.
(k) In this section,
1. (1) “award recipient” means a student who has received an Alaska performance scholarship at the second or third award level;
2. (2) “postsecondary institution grade-point average” means the weighted or unweighted average of all grades on a four-point scale, or the equivalent as established by the commission by regulation, obtained by a student at a qualified postsecondary institution in this state.