37-106-5 - Definitions. - Mississippi Statutes

§ 37-106-5. Definitions.
 

For purposes of this chapter, the following words shall be defined as follows unless the context requires otherwise: 
 

(a) "Eligible applicant or eligible student" means an individual who is a bona fide resident of Mississippi or an out-of-state student who is enrolled or accepted for attendance at an approved institution located in Mississippi in a course of study including at least six (6) semester hours or the full-time equivalent thereof. 

(b) "Approved institution" means an institution of higher learning, public or private, which is accredited by the Southern Association of Colleges and Secondary Schools, or its equivalent or a business, vocational, technical or other specialized school recognized and approved by the post-secondary education financial assistance board. 

(c) "Board" means the Post-secondary Education Financial Assistance Board created by Section 37-106-9 authorized and empowered to administer the provisions of this chapter. 

(d) "Fund" means the post-secondary education assistance fund created by Section 37-106-13. 

(e) "Financial need" means anticipated expenses of an eligible student while attending an approved institution which cannot reasonably be met by said student or by the parents thereof as shall be determined according to the criteria established by the rules and regulations of the board. Financial need shall be reevaluated and redetermined at least annually. 

(f) "Agency" means the Board of Trustees of State Institutions of Higher Learning. 
 

Sources: Laws,  1975, ch. 507, § 3; Laws, 1987, ch. 415, § 1, eff from and after July 1, 1987.