145th GENERAL ASSEMBLY

 

FISCAL NOTE

REVISED

DESCRIPTION:        AN ACT TO AMEND TITLE 14 OF THE DELAWARE CODE RELATING TO EDUCATION.

 

 

ASSUMPTIONS:

 

  1. Fiscally effective July 1, 2010.
  2. This Act creates the Inspire Scholarship Program at Delaware State University.
  3. Recipients shall have graduated from a Delaware public or non-public high school with a minimum cumulative average of either 80% or higher on a 100 point scale or a grade point average of 2.75 or higher on a 4.0 scale.
  4. Recipients must be enrolled as full-time student no later than the fall semester immediately following the individual’s high school graduation.
  5. Recipients are eligible to receive tuition assistance for a period not to exceed 8 continuous semesters.
  6. Recipients shall receive a grant for tuition assistance that shall be equal to what would be received by a similar SEED scholarship recipient less the amount of any other financial assistance specifically designated for tuition.  Inspire grants are renewable; however, the entire amount of the grant over the recipient’s education may not exceed the total amount of a SEED grant over a SEED recipient’s education.
  7. For Fiscal Year 2011, the full-time tuition at University of Delaware Associates in Arts Program (SEED recipient) is assumed to be $2,676.00 (2 semesters).
  8. The cost estimate is based on the following:
    • an annual tuition rate of $2,676.00 (inflated by 5% in the out years),
    • Average awards of 90% of a full scholarship due to receipt of other financial assistance.
    • 139 students receiving assistance in F.Y 2011 with an enrollment increase of 10% for F.Y. 2012.
    • Student eligibility retention rate of 71%.
  9. Subject to specific annual appropriation by the General Assembly.

 

Cost:

 

            Fiscal Year 2011                                                $372,000

 

            Fiscal Year 2012                                                $707,000

 

            Fiscal Year 2013                                                $1,063,800

 

 

 

Office of Controller General                                                        (Amounts are shown in whole dollars)

June 22, 2010

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