Minnesota State Grant Projections Report November 1 2006

Author : Minnesota Higher Education Services Office, St. Paul
Publisher :
ISBN 13 :
Total Pages : 16 pages
Book Rating : 4.:/5 (16 download)

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Download or read book Projection of Minnesota State Grant Spending for Fiscal Years 2004 and 2005. February 15, 2004 written by Minnesota Higher Education Services Office, St. Paul and published by . This book was released on 2004 with total page 16 pages. Available in PDF, EPUB and Kindle. Book excerpt: The February 15 projection is important because it corresponds to the timing of the state's February revenue forecast and, potentially, proposals to change the biennial budget. Besides informal consultations with various interested parties, the Services Office held a meeting on January 30, 2004 for interested parties, as specified in legislation, to provide insight on enrollments, tuition and fees, and other economic factors potentially affecting Minnesota State Grant spending. To produce the projections presented in this report. The Services Office took the following steps: (1) determined an estimate of available funds in Fiscal Years 2004 and 2005 considering state appropriations, as well as potential federal Leveraging Educational Assistance Program (LEAP) and Special Leveraging Educational Assistance Program (SLEAP) grants; (2) used the parameters specified in the Laws of Minnesota 2003, Chapter 133; (3) used end of year data on Fiscal Year 2002 and Fiscal Year 2003 Minnesota State Grant applicants; (4) assumed that the students will make the same types of attendance choices in Fiscal Years 2004 and 2005 as they made in Fiscal Years 2002 and 2003; and (5) assumed students will not change behavior in response to the changes enacted for Fiscal Years 2004 and 2005. Concerns and uncertainties still exist for Fiscal Years 2004 and 2005. The impact of some changes in program parameters could turn out differently if students change behavior; for example, newly imposed deadlines cause students to apply in a more timely fashion. The federal government could change the Federal Pell Grant Program or change the level of LEAP and SLEAP grants. Students could respond to changes in tuition prices or to job opportunities and adjust their attendance and registration load choices. Tuition and fee prices currently projected for Fiscal Year 2005 could be altered.