[Oasfaa] State Funding Update

[Fair, Bryce]

The State Regents met this afternoon to allocate state funds appropriated by the legislature (you can find a related press release at  http://www.okhighered.org/news-center/appropriations-fy07.html).  Total appropriations for state financial aid programs increased $13.2 million, from $59.2 million to $72.4 million.  The additional $13.2 million went to three programs-- $10 million for OHLAP; $700,000 for Academic Scholars; and $2,500,000 for the new concurrent enrollment tuition waiver at state system institutions.  Following is a little more detail:

Oklahoma's Promise - OHLAP -- Increase from $27.1 million to $37.1 million.  The number of recipients is expected to grow from 12,000 in 2005-06 to 15,000 in 2006-07.  Award levels will also increase in proportion to tuition increases.

Oklahoma Tuition Aid Grant (OTAG) -- no increase; the funding level will remain at $18.9 million.

Academic Scholars Program -- Increase from $7.9 million to $8.6 million.  This does not expand the program but will reduce the program's annual funding deficit which is currently depleting the program's trust fund.  A similar increase will be necessary next year to get the program funding to a level roughly equivalent to annual expenditures.

Oklahoma Tuition Equalization Grant (OTEG, for independent institutions) -- no increase from the current level of $2,185,894.

Concurrent Enrollment Waiver -- This new funding item of $2.5 million will be used to reimburse state system institutions that award tuition waivers to eligible high school seniors.

The following programs also had no increase in funding:
National Guard Tuition Waiver -- $2,045,612
Regional Baccalaureate Scholarship Program -- $800,229
Future Teacher Scholarships -- $100,000
Nigh Scholarships -- $70,000
Chiropractic Education Program -- $40,000
Tulsa Reconciliation Scholarship -- $50,000


Bryce Fair 
Assoc. Vice Chancellor for Scholarships & Grants 
Oklahoma State Regents for Higher Education 
Phone:  (405) 225-9162 
Fax:  (405) 225-9230 
E-mail:  bfair at osrhe.edu 

Mailing Address: 
P.O. Box 108850 
Oklahoma City, OK  73101-8850 

Street Address: 
655 Research Parkway, Suite 200 
Oklahoma City, OK  73104