261.96  Administration by commission — rules.
  The commission shall administer this program and shall:
  1.  Provide application forms and parents’ confidential statement forms.
  2.  Adopt rules and regulations for determining financial need, defining tuition and mandatory fees, defining residence for the purposes of the Iowa grant program, determining grant award amounts on the basis of student need, processing and approving applications for grants, and determining priority of grants. If resources are insufficient to award grants to all eligible applicants, the commission shall give priority to students who have the greatest demonstrated financial need. In determining who is a resident of Iowa, the commission’s rules shall be at least as restrictive as those of the board of regents.
  3.  Approve and award grants.
  4.  Make an annual report to the governor and general assembly, and evaluate the Iowa grant program for the period. The commission may require the accredited higher education institution to promptly furnish any information which the commission may request in connection with the Iowa grant program.
90 Acts, ch 1272, §63