The Board is authorized to approve loans for graduate and undergraduate studies or training to qualified applicants who are admitted to the University of Guam, the Guam Community College pursuant to the provisions of § 15204 of this Article or to a United States accredited off-Guam college or university as full-time students on regular status, or by Distance Learning, that may include classes by means of the Internet, through a United States accredited college or university or one (1) recognized by the Council on Postsecondary Accreditation (‘COPA’), or its successors. The loans provided in this Article are subject to the following limitations:

(a) The applicant must be a bona fide resident of Guam and a United States citizen, or a permanent resident alien:

(1) applicants who are high school students at the time of application must have achieved an overall grade point average of at least 2.0, or its equivalent, in the applicant’s high school studies; and

(2) applicants who are current or returning college students with prior college credits at the time of application must have achieved an overall grade point average of at least 2.5, or its equivalent, in the applicant’s undergraduate studies.

(3) (A) If the applicant is pursuing an academic graduate or post-graduate degree, the applicant must have achieved a grade point average of not less than
2.5 in undergraduate studies.

(B) If the applicant is a graduating senior, final approval of awards will be based upon successful

completion of graduation requirements, inclusive of a
2.5 grade point average.

All awards for graduate studies shall be based upon acceptance into a graduate program. No awards shall be made for off-Guam studies, unless such course of studies are listed on the University’s Career Priority listing. For loans made after January 1, 2000, the applicant must be a five (5) year resident of Guam for the period immediately preceding the starting date of the academic year the student will use such assistance and meet all other requirements herein.

(b) The applicant must agree to the provisions of § 15203 of this Article.

(c) The applicant must be in financial need, which shall be determined by regulations authorized by § 15105 of Article 1 of this Chapter. In addition, the applicant must complete ‘A Free Application for Federal Student Aid’ (‘FAFSA’) form as documentary evidence of need.

(d) The applicant must present to the Board, prior to the granting of the loan, satisfactory proof that the applicant has been admitted to an accredited college or university as a full-time student to pursue a program of study in the area for which the loan was applied. No loan shall be continued beyond the number of years normally required to complete studies in the specific academic degree program for which the loan was granted, except under exceptional circumstances as determined by the Board.

(e) The off-Guam colleges and universities must be United States accredited, or recognized by the Council on Postsecondary Accreditation (‘COPA’), or its successors, and must be on the University’s Career Priority Listing and approved by the Board; provided, however, that no loans shall be granted for studies at an off-Guam institution in an academic program that is available at the University of Guam.

SOURCE: GC § 11809. Amended by 17-070:38 (Sept. 21, 1984). Subsection (a) and (c) amended by P.L. 19-037:1 (Dec. 30, 1988).
Amended by P.L. 25-085:1 (Nov. 23, 1999), P.L. 25-145:2 (June 2,
2000). Amended by P.L. 26-042:2 (Oct. 5, 2001).

2013 NOTE: Pursuant to the authority granted by 1 GCA § 1606, numbers and/or letters in subsection (a)(3) were altered to adhere to the Compiler’s alpha-numeric scheme.