The Texas Higher Education Coordinating Board shall perform the following services with regard to the Texas Public Educational Grant Program: (1) Review guidelines submitted by institutions for the administration of the Texas Public Educational Grant program on their campuses to ensure the program is being conducted in a manner that will fulfill the purpose of the program. If guidelines are rejected, the Board is to provide the institution a written explanation and an opportunity to submit revised guidelines. (2) Accept funds transferred to the Board by institutions for use in matching federal or state grant funds, assure such matching funds are used to assist institutions and students with the greatest financial need, and return any funds on deposit from institutions if matching funds are not available. (3) Monitor institutional use of program funds and accept funds transferred to the Board by institutions which fail to fully utilize the grant funds set aside in accordance with Texas Public Educational Grant Program requirements. If an institution's year-end TPEG balance, including funds on deposit with the Board, exceeds 150 percent of the amount set aside from tuition, the excess funds shall be sent to the Board which shall use the funds for the Toward EXcellence, Access and Success Grant Program. |
