The Arizona Revised Statutes have been updated to include the revised sections from the 56th Legislature, 1st Regular Session. Please note that the next update of this compilation will not take place until after the conclusion of the 56th Legislature, 2nd Regular Session, which convenes in January 2024.
DISCLAIMER
This online version of the Arizona Revised Statutes is primarily maintained for legislative drafting purposes and reflects the version of law that is effective on January 1st of the year following the most recent legislative session. The official version of the Arizona Revised Statutes is published by Thomson Reuters.
A. The Arizona leveraging educational assistance program is established to provide student financial assistance in the form of need-based grants to eligible students to attend postsecondary educational institutions in this state. The Arizona board of regents shall administer the program.
B. A student is eligible to participate in the Arizona leveraging educational assistance program established by this section if the student meets all of the following criteria:
1. Is a resident of this state.
2. Demonstrates financial need under the criteria established by the Arizona board of regents for the program.
3. Is attending, on at least a half-time basis, an approved program at a properly accredited postsecondary educational institution in this state.
C. A participating postsecondary educational institution may receive matching monies from the postsecondary educational fund established by section 15-1704 to provide eligible students with financial assistance in the form of need-based grants. To be eligible to receive state matching monies, each participating postsecondary educational institution, public or private, shall provide an amount of matching monies that equals the amount of monies provided to the institution by this state from the postsecondary educational fund.
D. The Arizona board of regents may require participating postsecondary educational institutions to report on the use of monies distributed under this section, including the number of grants provided and the demographics of students receiving the grants.