§ 6-85-104. Definitions
As used in this subchapter: (1) “Approved institution” means an institution of higher education approved by the Division of Higher Education to participate in the Arkansas Academic Challenge Scholarship Program that is: (A) A state-supported institution of higher education; (B) A private, nonprofit institution of higher education with its primary headquarters located in Arkansas that […]
§ 6-85-105. Authority of Division of Higher Education
(a) The Division of Higher Education is authorized by this subchapter to develop and promulgate rules for the administration of the Arkansas Academic Challenge Scholarship Program, consistent with the purposes and requirements of this subchapter. (b) The rules shall include student eligibility criteria based on the provisions of this subchapter, the method for selecting scholarship […]
§ 6-85-106. Eligibility
(a) Eligibility for the Arkansas Academic Challenge Scholarship Program is based on the criteria under this section and rules promulgated under this subchapter by the Division of Higher Education. (b) An applicant is eligible for an award from this program if the applicant meets all of these criteria: (1) The applicant graduated from an Arkansas […]
§ 6-85-107. Duration — Amount
(a) A recipient who graduated from high school after December 31, 2000, shall receive a scholarship for one (1) academic year renewable for up to three (3) additional academic years if the recipient meets the following continuing eligibility criteria: (1) The recipient earns a cumulative grade point average of 2.75 or higher based on a […]
§ 6-85-108. Nursing school eligibility
(a) (1) The General Assembly recognizes that the State of Arkansas is experiencing a critical shortage of nurses. (2) It is the intent of this section to allow the Division of Higher Education the opportunity to include associate degree-granting and diploma schools of nursing in the Arkansas Academic Challenge Scholarship Program under specific circumstances. (b) […]
§ 6-85-109. Priority for teaching commitment
(a) During times of funding shortages under the Arkansas Academic Challenge Scholarship Program, the Division of Higher Education shall give a priority to awards to applicants meeting all eligibility requirements under the program who agree to accept a forgivable loan, as set forth in this section, in lieu of a scholarship and who agree to […]
§ 6-82-1803. Arkansas Future Grant
(a) (1) An Arkansas Future Grant shall be in an amount equal to the tuition, fees, and other charges incurred by a student who meets the requirements under § 6-82-1802 to attend an approved institution of higher education less the amount the student receives in: (A) State-supported student financial assistance; (B) Federal student financial assistance; […]
§ 6-84-108. Naming of designated beneficiary and transfers of accounts
(a) An account owner shall have the right to name the designated beneficiary of an account and at any time to change the designated beneficiary of an account to another individual who is a member of the family of the former designated beneficiary. (b) At the direction of an account owner, all or a portion […]
§ 6-82-1804. Recipients
(a) A student who receives an Arkansas Future Grant shall enter into a written agreement with the Division of Higher Education to: (1) (A) Receive monthly mentoring from a mentor from an organization determined by the Division of Higher Education. (B) A mentor under subdivision (a)(1)(A) of this section shall: (i) Receive annual mentoring training: […]
§ 6-84-109. Account withdrawals
(a) Withdrawal from an account may be made on thirty (30) days’ written notice by the account owner to the Section 529 Plan Review Committee or on shorter notice as the committee may by rule provide. (b) (1) An account withdrawal paid to or for the benefit of any person during any calendar year shall […]