Sec. 2201.16. The New York State Achievement and Investment in Merit Scholarship (NY-AIMS)

(a) Definitions.

As used in section 669-g of the Education Law and this section, the following terms shall have the following meanings:

(1) Good academic standing shall have the same meaning as set forth in section 665(6) of the Education Law.

(2) Grade point average shall mean the student’s numeric grade calculated on the standard 4.0 scale.

(3) Program shall mean The New York State Achievement and Investment in Merit Scholarship codified in section 669-g of the Education Law.

(4) Unmet need for the purpose of determining priority shall mean the cost of attendance, as determined for Federal title IV student financial aid purposes, less all Federal, State, and institutional higher education aid and the expected family contribution based on the Federal formula.

(b) Eligibility.

An applicant must:

(1) have graduated from a New York State high school in the 2014-15 academic year or thereafter; and

(2) enroll in an approved undergraduate program of study in a public or private not-for-profit degree granting post-secondary institution located in New York State beginning in the 2015-16 academic year or thereafter; and

(3) have achieved at least two of the following during high school:

(i) graduated with a grade point average of 3.3 or above;

(ii) graduated with a “with honors” distinction on a New York State regents diploma or receive a score of three or higher on two or more advanced placement examinations; or

(iii) graduated within the top 15 percent of their high school class, provided that actual class rank may be taken into consideration; and

(4) satisfy all other requirements pursuant to section 669-g of the Education Law; and

(5) satisfy all general eligibility requirements provided in section 661 of the Education Law including, but not limited to, full-time attendance, good academic standing, residency and citizenship.

(c) Distribution and priorities.

In each year, new awards made shall be proportionate to the total new applications received from eligible students enrolled in undergraduate study at public and private not-for-profit degree granting institutions. Distribution of awards shall be made in accordance with the provisions contained in section 669-g(3)(a) of the Education Law within each sector. In the event that there are more applicants who have the same priority than there are remaining scholarships or available funding, awards shall be made in descending order based on unmet need established at the time of application. In the event of a tie, distribution shall be made by means of a lottery or other form of random selection.

(d) Administration.

(1) Applicants for an award shall apply for program eligibility at such times, on forms and in a manner prescribed by the corporation. The corporation may require applicants to provide additional documentation evidencing eligibility.

(2) Recipients of an award shall:

(i) request payment annually at such times, on forms and in a manner specified by the corporation;

(ii) receive such awards for not more than four academic years of undergraduate study, or five academic years if the program of study normally requires five years as defined by the commissioner pursuant to article 13 of the Education Law; and

(iii) provide any information necessary for the corporation to determine compliance with the program’s requirements.

(e) Awards.

(1) The amount of the award shall be determined in accordance with section 669-g of the Education Law.

(2) Disbursements shall be made annually to institutions on behalf of recipients.

(3) Awards may be used to offset the recipient’s total cost of attendance determined for Federal title IV student financial aid purposes or may be used in addition to such cost of attendance.