283—19.1 (261) ACE grants. Educational grants based on financial need may be awarded to Iowa residents enrolled in accelerated career education (ACE) programs, filed with the Iowa department of economic development, at Iowa community colleges and serving targeted industries as designated by the Iowa department of economic development.
	 19.1(1) Student financial need.
	  a.   	 Financial need shall be evaluated annually on the basis of a confidential financial statement, filed on forms designated by the commission. For the purposes of determining financial need, the commission has adopted the use of the Free Application for Federal Student Aid (FAFSA), a federal form used to calculate a formula developed by the U.S. Department of Education, the results of which are used to determine relative need. The FAFSA must be received by the processing agent by the date specified in the application instructions.
	  b.   	 Financial need is defined as the difference between total program expenses at the community college the student plans to attend and the estimated amount of family resources available to pay for college, as determined by the commission. Need determination will include evaluation of all student financial aid received by the student including, but not limited to, federal Pell Grants, Iowa vocational-technical tuition grants, and institutional awards.
	 19.1(2) Student eligibility.
	  a.   	 A recipient must be an Iowa resident as defined by the Iowa department of education’s “Iowa community college uniform policy on student residency status.”
	  b.   	 A recipient must be enrolled in an accelerated career education program, filed with the Iowa department of economic development, leading to a certificate, diploma, associate of science degree, or associate of applied science degree in accordance with the provisions of Iowa Code chapter 260G and serving targeted industries as designated by the Iowa department of economic development.
	  c.   	 A recipient must be a full-time student as defined by the college unless the financial aid administrator recommends an award to a part-time student based on federal professional judgment criteria as authorized in the federal Higher Education Act of 1965.
	  d.   	 A recipient may receive moneys under this program for not more than 150 percent of the length of time required for a full-time student to complete the accelerated career education program.
	  e.   	 A recipient must meet and maintain the academic eligibility requirements established by the community college.
	  f.   	 A recipient may receive no more than the amount specified by Iowa law or the amount of the student’s established financial need, whichever is less.
	 19.1(3) Priority for grants. Targeted industries and occupations will be identified by the Iowa department of economic development and the workforce development department. The commission will award grants based on the level of need for targeted industries and occupations as defined by the Iowa department of economic development and the workforce development department.
Applicants who apply by the priority date specified in the application and who are enrolled in designated educational programs will be ranked in order of need, and awards will be granted to those who demonstrate need from highest need to lowest need, insofar as funds permit.
	 19.1(4) Award notification. Grant recipients will be notified of the awards by community college officials. Community college officials are responsible for verifying eligibility and coordinating other aid to ensure compliance with student eligibility requirements and allowable award amounts. Community college officials will report changes of student eligibility to the commission.
	 19.1(5) Maximum annual award. For purposes of this program, a student must be enrolled four quarters or two semesters plus a summer session to receive the maximum annual award.
	 19.1(6) Award transfers and adjustments. Recipients are responsible for promptly notifying the appropriate community college officials of changes in enrollment or financial situation. Community college officials will make necessary changes and notify the commission.
	 19.1(7) Restrictions. A student who is in default on a Stafford Loan, SLS Loan, or Perkins/National Direct/National Defense Student Loan or who owes a repayment on any Title IV grant assistance or state award shall be ineligible for accelerated career education grants. Eligibility for state aid may be reinstated upon payment in full of the delinquent obligation or by commission ruling on the basis of adequate extenuating evidence presented in an appeal under the procedures set forth in 283—Chapters 4 and 5.
This rule is intended to implement Iowa Code section 261.22.