NATIONAL POLICY ON SCHOLARSHIP AND STUDENT FINANCIAL ASSISTANCE


I. General Provision

Pursuant to provisions of Title 55 of the FSM Code, Section §219, as further endorses by Title 40 of the FSM Code, the Secretary of the Department of Education, National Government, hereby create this policy for the establishment of a National Scholarship and Financial

Assistance Program, hereinafter refers to as “Program”, to consolidate all scholarships and student financial aid assistance into one program at the national government level and further requires the amendment of and adoption of its guideline to regulate and control the processes and disbursements of such awards as shall be provided through the aforesaid program. 

II. Purpose

This Policy is hereby established for the National Department of Education to consolidate all appropriations of public funds for scholarships and student financial aid assistance into a program to be called National Scholarship and Financial Assistance Program and to amend and adopt its revised guideline for this said Program.

III. Statutory Authority

Pursuant to provisions of Title 55 of the FSM Code as further endorses by Title 40 of the FSM Code, and provisions of the Compact of Free Association, as amended, whereby the Secretary of the Department of Education, National Government, is the sole “grantee” of Compact Education Sector grants, the Secretary hereby establish this policy accordingly to regulate the procedures, processes and disbursements of public funds in accordance with provisions of the Financial Management Act of 1979, as amended, and applicable provisions of the Compact of Free Association, as amended, (US PL 108-188).

IV. Definitions

These definitions shall apply to terms and concepts used in this Policy only:

1. “Scholarship” shall refer to public funds awarded to any intellectual individual or student with a grade point average between 3.50 and 4.00 GPA.

2. “Financial Assistance” shall mean public funds awarded to any outstanding individual or student with a grade point average between 2.50 and 3.49 GPA.

3. “GPA” shall refer to “grade point average” as used in education to reflect a student’s academic performance level.

4. “Students” shall mean individual or pupil enrolled in educational institutions, public or private, to obtain academic intelligence and/or vocational skills.

5. “Undergraduates” shall refer to students attending colleges toward achieving associate level or bachelor level degrees.

6. “Graduates” shall refer to individual or students attending colleges toward attaining their master level degrees.

7. “Post-graduates” shall refer to individual or students attending colleges toward attaining their doctorate level degrees.

8.  “Secretary” shall mean the head of the Department of Education, FSM National Government.

9. “National Department of Education” shall refer to the Department of Education at the FSM National Government and shall further refer as “NDOE”.

10. “Board” shall refer to the National Scholarship Board.

11. “Scholarship staff” shall refer to the duly hired employees of the National Department of Education.

12. “Special Certificates” shall refer to any special long or short term training certificates in other fields or technical areas.

V. Title

This policy shall be called the National Policy on Scholarship and Financial Assistance upon adoption by the Secretary of the Department of Education, National Government.

VI. National Policy on Scholarship and Financial Assistance Requirements

This Policy hereby establishes the requirement provisions to ensure compliances and assurances pursuant to Financial Management Act of 1979, as amended, and other applicable laws of the Federated States of Micronesia and provisions of the Compact of Free Association in awarding scholarship and financial assistance to eligible students attending Institute of Higher Education, hereinafter refers to as “IHE” and other related purposes.

a) National Scholarship and Financial Assistance Program
This Policy requires the consolidation of the National Scholarship, “Sin-Tax Scholarship” and other scholarship sources into a National Scholarship and Financial Assistance Program at the Department of Education, FSM National Government, to provide scholarship and financial assistance to highly eligible FSM citizens, pursuing “undergraduate”, “graduates”, “postgraduates” and “special certificates” studies or training.

b) Guideline for the Administration of the National Scholarship and Financial Assistance Program
This Policy further requires the establishment of a guideline to establish the required processes and procedures in awarding and disbursing public funds that shall be appropriated by the National Congress and/or awarded by foreign sources to improve education in the Federated States of Micronesia. This Guideline shall further establish the technical and logistical requirements on data management and reporting as shall be required by applicable laws of the Federated States of Micronesia and provisions of the Compact of Free Association and other foreign sources.

c) National Scholarship Board
The National Scholarship Board as established pursuant to provisions of Executive No. 1, as amended in 2008, shall upgrade and improve its mandated roles and responsibilities in executing provisions of this policy, pursuant to applicable laws of the Federated States of Micronesia.

VIII. Adoption and Amendments

This National Policy on Scholarship and Financial Assistance shall become effective on the date the Secretary shall adopt it and shall further be amended after four years or earlier as shall be directed by laws of the Federated States of Micronesia.

 

 
 
 

 
 
 

 

 
 
 
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