Section 10.04. Terms of grants.

 

(1)  Eligible students may receive up to $4,000 an academic year based upon their financial need as determined through use of the national needs analysis as required in s. 39.435 , Stats.

(2)  The total amount received from the board shall not exceed $12,000 nor may the student receive grant awards for more than 3 academic years.

(3)  For grants which must be repaid, the interest rate shall be 5% annually on the unpaid principal balance with interest accrual beginning upon the initial date of repayment. Interest shall not accrue during periods of deferment from repayment.

(4)  The student may receive a supplemental grant of between $500 and $1,000 per child for child care assistance, based upon the financial need of the student, for each semester during which a dependent preschool age child requires child care. The child care must take place in facilities provided by a child care organization under provisions of ch. DCF 252 , and excludes child care provided by relatives or friends of the student. The supplemental grants provided under this subsection are not subject to the repayment provisions of sub. (3) . Supplemental grants are not available for the care of children who are enrolled in first grade or higher grades in public or private elementary or secondary schools.

History: Cr. Register, April, 1992, No. 436 , eff. 5-1-92; correction in (4) made under s. 13.93 (2m) (b) 7., Stats., Register, February, 1998, No. 506 ; correction in (4) made under s. 13.92 (4) (b) 7., Stats., Register February 2013 No. 686 .