Moneys in this fund shall be used for student financial aid:

1. (1) Long-term loans;
2. (2) Short-term loans; or
3. (3) Locally administered need-based grants, tuition scholarships and institutional employment programs for resident students who demonstrate financial need, or a financial aid program for high school students enrolled in a dual credit program to cover expenses including, but not limited to, tuition, fees, course materials, and transportation. The moneys in this fund shall not be used for college operating expenses.

[Statutory Authority: Chapter 28.50 [28B.50] RCW. WSR 21-17-035, § 131-36-055, filed 8/9/21, effective 9/9/21. Statutory Authority: RCW 28B.15.820. WSR 16-11-016, § 131-36-055, filed 5/6/16, effective 6/6/16; WSR 09-06-046, § 131-36-055, filed 2/25/09, effective 3/28/09. Statutory Authority: Chapter 28B.50 RCW. WSR 98-15-012, § 131-36-055, filed 7/2/98, effective 8/2/98.]