The board shall have the following powers and duties:

     (1) Conduct a full analysis of student financial aid as a means of:

     (a) Fulfilling educational aspirations of students of the state of Washington, and

     (b) Improving the general, social, cultural, and economic character of the state.

     Such an analysis will be a continuous one and will yield current information relevant to needed improvements in the state program of student financial aid. The board will disseminate the information yielded by their analyses to all appropriate individuals and agents.

     (2) Design a state program of student financial aid based on the data of the study referred to in this section. The state programs will supplement available federal and local aid programs. The state programs of student financial aid will not exceed the difference between the budgetary costs of attending an institution of higher education and the student's total resources, including family support, personal savings, employment, and federal, state, and local aid programs.

     (3) Determine and establish criteria for financial need of the individual applicant based upon the consideration of that particular applicant. In making this determination the board shall consider the following:

     (a) Assets and income of the student.

     (b) Assets and income of the parents, or the individuals legally responsible for the care and maintenance of the student.

     (c) The cost of attending the institution the student is attending or planning to attend.

     (d) Any other criteria deemed relevant to the board.

     (4) Set the amount of financial aid to be awarded to any individual needy or disadvantaged student in any school year.

     (5) Award financial aid to needy or disadvantaged students for a school year based upon only that amount necessary to fill the financial gap between the budgetary cost of attending an institution of higher education and the family and student contribution.

     (6) Review the need and eligibility of all applications on an annual basis and adjust financial aid to reflect changes in the financial need of the recipients and the cost of attending the institution of higher education.

[1999 c 345 § 4; 1989 c 254 § 3; 1969 ex.s. c 222 § 11. Formerly RCW 28B.10.806, 28.76.460.]

NOTES:

     Intent -- 1989 c 254: See note following RCW 28B.92.030.