1. (a) Funds awarded through this program may include any gifts, grants and donations of real or personal property from any entity, subject to limitations or conditions set by law, for the purposes of this chapter.

2. (b) Award Amount and Disbursements.

   1. (1) The minimum and maximum annual award for a student through this program shall be an amount recommended by the advisory committee and announced to institutions in the allocation announcement sent out for the relevant year, less any amount previously received through this program.
   2. (2) No student shall receive an aggregate total of more than the amount recommended by the advisory committee and announced to institutions in the allocation announcement through the program.
   3. (3) An individual student's scholarship shall be paid out in the form of at least one disbursement per semester.
3. (c) No scholarship disbursed to a student shall be used for any purpose other than for meeting the cost of attending an approved institution.
4. (d) At the time an award is made to a student, it shall not exceed the student's need. No future adjustment is required if subsequent awards during the student's period of enrollment cause an over award of $300 or less.

Source Note:The provisions of this §520.5 adopted to be effective December 9, 2009, 34 TexReg 8728; amended to be effective April 10, 2013, 38 TexReg 2224; amended to be effective February 8, 2017, 42 TexReg 429.