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Hope Changes Fall 2011

Hope Changes Fall 2011. Simplified Version. HOPE Changed?. HB 326 brought significant changes to both the HOPE Grant and HOPE Scholarship Effective Fall 2011 Affects freshmen and continuing students DISCLAIMER Information provided is not an exhaustive list of changes

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Hope Changes Fall 2011

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  1. Hope Changes Fall 2011 Simplified Version

  2. HOPE Changed? • HB 326 brought significant changes to both the HOPE Grant and HOPE Scholarship • Effective Fall 2011 • Affects freshmen and continuing students DISCLAIMER • Information provided is not an exhaustive list of changes • Final regulations have not be released

  3. HOPE Scholarship Changes • Eliminates book and fee allowance • Eliminates remedial or developmental (learning support) courses • Establishes a new method for determining the amount of the scholarship on an annual basis (factor rate for 2011-2012 90%) • Allows a single ‘second chance’ to regain eligibility due to falling below 3.0 GPA • Establishes 7 year time limit for eligibility after high school

  4. New Zell Miller Scholarship • Minimum high school GPA 3.7 plus 1,200 SAT for reading and math or ACT composite score of 26 or higher (HB 326 states SAT scores from one sitting, but awaiting clarification) • Valedictorian and Salutatorian • Establishes requirements for rigor beginning with class of 2015 • Minimum 3.3 GPA required to maintain eligibility • May lose Zell Miller Scholarship and receive HOPE Scholarship if GPA falls below 3.3 but remains 3.0 or above • May not receive both Zell Miller and HOPE Scholarships at the same time

  5. HOPE Grant Changes • Eliminates book and fee allowance • Establishes a new method for determining the amount of the scholarship on an annual basis (factor rate for 2011-2012 90%) • Eliminates eligibility for students who have earned a bachelor’s degree • Requires minimum 3.0 GPA at checkpoints • Allows a single ‘second chance’ to regain eligibility due to falling below 3.0 GPA Big Surprise!

  6. HOPE Formula for Payment • Establishes a ‘factor rate’ or percentage each year used to determine the amount of HOPE award based on lottery revenue • Factor rate for 2011-2012 is 90% of current maximum standard tuition rate • $2,137 (maximum tuition at 15 hours for new students) x 90% = $1,923.30 • Hourly rate used to determine amount for less than 15 hours • $1,923.30/15 x # Credit Hours enrolled excluding learning support 12 credit hours = ($1923.30/15) x 12 = $1,538.64 • Not exactly 90%

  7. 90% vs. Formula 90 % (10-11 Tuition Rate) Formula ($128.22) (10-11 Tuition Rate) 12 hrs = $1716 $1716.00 x 90 % $1544.40 12 hrs = $1716 $ 128.22 x 12 cr hrs $1538.64 ($5.76 difference)

  8. 90% vs. Formula 90% vs. Formula 90 % (10-11 Tuition Rate) Formula ($128.22) (10-11 Tuition Rate) 9 hrs = $1287 $1287.00 x 90 % $1558.30 9 hrs = $1287 $ 128.22 x 9 cr hrs $1553.98 ($4.32 difference)

  9. Your Financial Aid Director

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