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<DIV><SPAN class=964010117-31052005><FONT face=Arial size=2>Last Friday, the
Oklahoma State Regents made initial decisions allocating FY2006 funds to our
state scholarship and grant programs. Overall, the numbers currently show
an increase of $14.1 million or 32% from FY2005 (from $43.8 million to $57.9
million). Following are the adjustments by program:</FONT></SPAN></DIV>
<UL>
<LI><SPAN class=964010117-31052005></SPAN><SPAN class=964010117-31052005><FONT
face=Arial size=2>Oklahoma Higher Learning Access Program (OHLAP) -- An
increase of $12 million from $15.1 million to $27.1 million. Of the
$12 million increase, $4 million "annualizes" a supplemental
appropriation we receive in 2004-05 to replace anticipated gaming revenue that
failed to materialize. The other $8 million will fund the expected
growth in OHLAP. We project a one-third increase in OHLAP recipients,
growing from about 9,000 in 2004-05 to about 12,000 in 2005-06. Of
the $27 million in total funding, about $7 million is intended to come from
gaming revenue and another $4 million from lottery proceeds. We hope
they come in as expected; if not, we'll be back requesting another
supplemental appropriation next spring.</FONT></SPAN></LI>
<LI><SPAN class=964010117-31052005><FONT face=Arial size=2>Oklahoma Tuition
Aid Grant (OTAG) - An increase of just over $1 million from $17.7 million to
$18.8 million. The increase should allow us to match about $450,000 in
federal SLEAP funds providing total additional funding of $1.5 million for the
program in 2005-06.</FONT></SPAN></LI>
<LI><SPAN class=964010117-31052005><FONT face=Arial size=2>Academic Scholars
Program - An increase of $700,000 from $7.2 million to $7.9 million. The
increase does not fund any expansion of the program or raise award
levels. We are currently still operating with an annual funding
deficit since the annual costs are close to $10 million (the difference is
paid by spending down the program's trust fund). We hope to have similar
increases of the next two years to bring the annual funding up to the annual
cost before the trust fund is depleted.</FONT></SPAN></LI>
<LI><SPAN class=964010117-31052005><FONT face=Arial size=2>National Guard
Tuition Waiver - There is an increase of $317,512 to help reimburse state
system institutions for higher tuition waiver costs of the
program.</FONT></SPAN></LI>
<LI><SPAN class=964010117-31052005><FONT face=Arial size=2>Chiropractic
Scholarship - after two years of suspension, the Legislature provided $40,000
to resume this program which provides scholarships to Oklahoma residents
enrolled in chiropractic schools (there aren't any in
Oklahoma).</FONT></SPAN></LI>
<LI><SPAN class=964010117-31052005><FONT face=Arial size=2>Oklahoma Tuition
Equalization Grant (OTEG) program - The Legislature identified an additional
$1.3 million for this program that provides $2000 grants to Oklahoma residents
attending certain private/independent colleges in Oklahoma. The
additional funds would increase the total funding for the program from $1
million to $2.3 million. However, this program remains a controversial
one and State Regents postponed any action on allocating these
funds until their June 30 meeting.</FONT></SPAN></LI></UL>
<DIV><SPAN class=964010117-31052005><FONT face=Arial size=2>The total FY2006
state funding of $57.9 million for the programs currently breaks down this
way:</FONT></SPAN></DIV>
<DIV><SPAN class=964010117-31052005><FONT face=Arial size=2>OHLAP - $27.1
million</FONT></SPAN></DIV>
<DIV><SPAN class=964010117-31052005><FONT face=Arial size=2>OTAG - $18.8
million</FONT></SPAN></DIV>
<DIV><SPAN class=964010117-31052005><FONT face=Arial size=2>Academic Scholars -
$7.9 million</FONT></SPAN></DIV>
<DIV><SPAN class=964010117-31052005><FONT face=Arial size=2>National Guard
Tuition Waiver - $2 million</FONT></SPAN></DIV>
<DIV><SPAN class=964010117-31052005><FONT face=Arial size=2>Tuition Equalization
Grant - $1 million</FONT></SPAN></DIV>
<DIV><SPAN class=964010117-31052005><FONT face=Arial size=2>Regional
Baccalaureate Scholarship - $800,000</FONT></SPAN></DIV>
<DIV><SPAN class=964010117-31052005><FONT face=Arial size=2>Future Teacher
Scholarships - $100,000</FONT></SPAN></DIV>
<DIV><SPAN class=964010117-31052005><FONT face=Arial size=2>Nigh Scholarship -
$70,000</FONT></SPAN></DIV>
<DIV><SPAN class=964010117-31052005><FONT face=Arial size=2>Tulsa Reconciliation
Scholarship - $50,000</FONT></SPAN></DIV>
<DIV><SPAN class=964010117-31052005><FONT face=Arial size=2>Chiropractic
Scholarship - $40,000</FONT></SPAN></DIV>
<DIV><SPAN class=964010117-31052005><FONT face=Arial
size=2></FONT></SPAN> </DIV>
<DIV><SPAN class=964010117-31052005><FONT face=Arial size=2>We are very pleased
to see the continued priority placed on state student financial aid
programs. Funding for these programs continues to grow at a rate
significantly higher than the overall funding for higher education. Over
just the past two years, funding has increased more than 50%, from $37.9 million
in FY2004 to $57.9 million in FY2006.</FONT></SPAN></DIV>
<DIV><SPAN class=964010117-31052005><FONT face=Arial
size=2></FONT></SPAN> </DIV>
<DIV><SPAN class=964010117-31052005><FONT face=Arial size=2>Also, you can view a
copy of the results of the 2003-04 Annual Financial Aid Survey (of state system
institutions) online at: <A
href="http://www.okhighered.org/studies-reports/fin-aid-report/financial-aid-3-05.pdf">http://www.okhighered.org/studies-reports/fin-aid-report/financial-aid-3-05.pdf</A>
The report aggregates and summarizes the information submitted by each
institution and shows recent trends.</FONT></SPAN></DIV>
<DIV><SPAN class=964010117-31052005><FONT face=Arial
size=2></FONT></SPAN> </DIV>
<P><FONT face=Arial size=2>Bryce Fair</FONT> <BR><FONT face=Arial size=2>Assoc.
Vice Chancellor for Scholarships & Grants</FONT> <BR><FONT face=Arial
size=2>Oklahoma State Regents for Higher Education</FONT> <BR><FONT face=Arial
size=2>Phone: (405) 225-9162</FONT> <BR><FONT face=Arial size=2>Fax:
(405) 225-9230</FONT> <BR><FONT face=Arial size=2>E-mail:
bfair@osrhe.edu</FONT> </P>
<P><FONT face=Arial size=2>Mailing Address:</FONT> <BR><FONT face=Arial
size=2>P.O. Box 108850</FONT> <BR><FONT face=Arial size=2>Oklahoma City,
OK 73101-8850</FONT> </P>
<P><FONT face=Arial size=2>Street Address:</FONT> <BR><FONT face=Arial
size=2>655 Research Parkway, Suite 200</FONT> <BR><FONT face=Arial
size=2>Oklahoma City, OK 73104</FONT> </P>
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