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Florida Administrative Code (Last Updated: October 28, 2024) |
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6. Department of Education |
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6A. State Board of Education |
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6A-20. Student Financial Assistance |
1(1) All financial aid fees collected from the optional financial aid fee authorized in Section 161009.22(5), F.S., 18shall:
19(a) Be deposited in the district’s Financial Aid Fee Trust Fund, which is the separate workforce education student financial aid trust fund. Revenue in this fund is to be used to pay in full or in part the fees of persons with demonstrated financial need. Funds used to pay students’ fees shall be transferred from the Financial Aid Fee Trust Fund to the district’s General Fund. Districts may implement an alternative accounting procedure in which financial aid fees are recorded in a discrete General Fund account which is subsequently reduced as these monies are used to pay course fees.
118(b) Be used to pay in full or in part the fees of eligible students as quickly as possible. Funds not needed to pay fees may be carried forward for use in the following fiscal year.
154(2) A student applying for financial aid must be a Florida resident and must complete a Pell Grant application. Districts shall use the Pell Grant assessment of the financial need in establishing criteria and procedures for approving financial aid fee awards.
195(3) Districts shall be required to report on students who were awarded financial aid from this fee through the Department’s Comprehensive Management Information System, as prescribed in Rule 2236A-1.0014, 224F.A.C.
225(4) 226All financial aid fee revenue shall be reported in the district’s annual financial report, as prescribed in Rule 2446A-1.0071, 245F.A.C.
246(5) Districts shall be required to collect and provide to the Department of Education on request an annual report of financial aid fee data to include the following:
2741. Amount of financial aid fees collected during the fiscal year;
2852. Amount of financial aid fees paid; and,
2933. Balance of financial aid fees unused or unobligated at the end of the fiscal year and carried forward to the next fiscal year.
317Rulemaking Authority 3191001.02(1), 3201008.35, 3211009.22, 3221010.01, 3231011.01 324FS. Law Implemented 3271008.385, 3281009.22, 3291010.01, 3301010.02, 3311010.22, 3321011.01(3)(a) FS334. History–New 8-19-91, Amended 10-30-16.
