Okla. Stat. tit. 70, § 70-3970.9
This is the official text of Okla. Stat. tit. 70, § 70-3970.9, part of Oklahoma’s Stat. tit. 70, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 70,." Browse the sections below, each linked to its official government source.
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Balance to be treated as asset of parent - Exceptions
Official statutory text
A. Any student loan program, student grant program, or other
financial assistance program established or administered by this
state shall treat the balance in an account of which the student is
a designated beneficiary as if it were an asset of the parent of the
designated beneficiary and not as a scholarship or grant or as an
asset of the student for determining a student's or parent's income,
assets or financial need.
B. Subsection A of this section applies to any financial
assistance program administered by a state-supported college or
university.
C. Subsections A and B of this section shall not apply if any
of the following conditions exist:
1. Federal law requires all or a portion of the amount in an
account to be considered in a different manner;
2. Federal benefits could be lost if all or a portion of the
amount in an account is not considered in a different manner; or
3. A specific grant establishing a financial assistance program
requires that all or a portion of the amount in an account be
considered as an asset of the student.
financial assistance program established or administered by this
state shall treat the balance in an account of which the student is
a designated beneficiary as if it were an asset of the parent of the
designated beneficiary and not as a scholarship or grant or as an
asset of the student for determining a student's or parent's income,
assets or financial need.
B. Subsection A of this section applies to any financial
assistance program administered by a state-supported college or
university.
C. Subsections A and B of this section shall not apply if any
of the following conditions exist:
1. Federal law requires all or a portion of the amount in an
account to be considered in a different manner;
2. Federal benefits could be lost if all or a portion of the
amount in an account is not considered in a different manner; or
3. A specific grant establishing a financial assistance program
requires that all or a portion of the amount in an account be
considered as an asset of the student.
Status: in_force · Read it on the official government site
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