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(a) The amount of the scholarship grant to any student for any academic year shall be the total of (1) the lesser of (i) $5,000 or (ii) the amount determined by the Secretary to be the cost of tuition and fees; plus (2) an allowance for equipment, supplies, books and living expenses which shall be the lesser of (i) $3,600 or (ii) the difference between $5,000 and the amount determined pursuant to paragraph (a)(1) of this section.
(b) The maximum amount of a scholarship grant during a 12–month period to any student enrolled in a school which provides a course of study longer than the traditional 9–month academic year may be proportionately increased.
Remittance covering payments of royalty or rental on naval petroleum reserves must be accomplished by necessary identification information and sent direct to the Director, Naval Petroleum Reserves in California.
Cite this article: FindLaw.com - New Jersey Statutes Title 15A. Corporations, Nonprofit 15A § 8-5 - last updated February 19, 2021 | https://codes.findlaw.com/nj/title-15a-corporations-nonprofit/nj-st-sect-15a-8-5/
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