CT HB05332

Renames the "Governor's Scholarship program" to the "Roberta B. Willis Scholarship program" effective July 1, 2016

Restructures the scholarship program to include a need and merit-based grant (20-30% of appropriations), a need-based grant (up to 80% of appropriations), and a Charter Oak grant (minimum $100,000), eliminating the performance incentive pool

Establishes fixed maximum awards of $4,500 for eligible full-time undergraduate students and prorated amounts for part-time students (75% for 9-11 credits, 50% for 6-8 credits) at participating institutions

Requires allocation of funds to institutions based on full-time equivalent enrollment of Connecticut resident undergraduates with family contributions up to 200% of the maximum federal Pell grant threshold, with institutional allocations published by October 1st annually

Allocates not less than 2.5% of annual appropriations to regional community-technical colleges for financial aid purposes in addition to other allocations, and changes the deadline for returning unobligated funds from February 15 to May 1