§ 57.2806 - How is the amount of grant award determined?

(a) A school which receives a grant under this subpart must award each scholarship successively to the eligible individual as specified in § 57.2803(b)(1) of greatest financial need at that school.

(b) The Secretary will make a randomized list of all eligible applicant schools of medicine, dentistry and osteopathic medicine and a second randomized list of all remaining eligible applicant schools. To the extent of available funds, the Secretary will award grant funds sufficient for one scholarship to each eligible applicant school on the first list, and then proceed to the list of all other eligible applicant schools and award one scholarship to each school in the same manner. These scholarships must go to students who have no financial resources for the first year of study at the school, as determined under § 57.2804. The Secretary will then allocate any remaining funds according to paragraph (c) of this section.

(c)(1) Proceeding in sequence through the list of schools of medicine, dentistry and osteopathic medicine, the Secretary will award each school of medicine, dentistry, and osteopathic medicine sufficient grant funds for a second scholarship which must be given to a student with no financial resources as determined under § 57.2804. This procedure will be repeated until all the scholarship requests of the applicant schools of medicine, osteopathic medicine, and dentistry for scholarships for students with no financial resources have been satisfied or until all the available grant funds have been allocated. If there are additional grant funds, the Secretary will then proceed to the list of all other eligible applicant schools and will allocate scholarships for students with no financial resources using the same procedure.

(2) If additional grant funds remain after fulfilling all requests for scholarships for students with no financial resources at all eligible applicant schools, using the method described in paragraph (c)(1) of this section the Secretary will allocate funds for scholarships to students who have resources from one to 500 dollars. With any remaining funds after completion of these awards, the Secretary will, in the same manner, award grants for scholarships to students with resources in increments of $500 until all grant funds are awarded or students who have $5,000 in resources or 50 percent of the cost of education at the school have received awards.