April 29, 1997 -- Reno, Nevada

At the Higher Education Legislative Hearing on Wednesday, April 30, 1997, University and Community College System of Nevada (UCCSN) Chancellor Richard S. Jarvis will seek Legislative approval for the largest increase in financial aid in the history of Nevada's higher education system. These funds would be applied to a new financial aid program entitled "Regents' Scholarships."

The desired increase would use estate tax revenues to boost financial aid resources for the 1997-99 biennium an additional $2.6 million. Along with increases recommended by Governor Miller and those previously presented to the Legislature, state access dollars available to Nevada community college and university students would jump by 64% from the current level of $7 million in 1995-97 to $11.5 million in 1997-99.

"This could be a truly momentous event in the history of Nevada's higher education system," stated Chancellor Jarvis. "Nevada has traditionally been near the bottom in terms of state commitment to financial aid, but if the State Legislature approves this distribution of estate tax dollars, Nevada will significantly improve its position in terms of financial aid. I am very hopeful that our State Legislators will endorse the use of these estate tax funds for the Regent Scholarship Program," concluded Chancellor Jarvis.

The UCCSN Board of Regents last week approved a new program called "Regents' Scholarships" which is designed to ensure that these additional estate tax funds address the specific financial aid needs of Nevadans. The Regents'Scholarships are built on the principles of work study and community service. These Scholarships will include an on- or off-campus work or service obligation -- -- giving back to the campus or larger community will be a part of the scholarship mechanism.

Regents' Scholarships will also feature a new set of criteria for financial need that will complement federal aid and work study programs, but will be more accommodating to the particular characteristics of Nevada's student populations. Nevada higher education students tend to be older, often financially independent and generally part-time. The scholarship funds will be allocated to Nevada's six teaching campuses according to total annual average FTE enrollment, and the campuses will have flexibility in the design of programs tailored for their undergraduate and graduate students.