20-26-102. Purpose -- legislative intent. (1) The purpose of parts 1 and 2 is to establish a program to provide financial aid to resident Montana postsecondary undergraduate and graduate students.

(2) In establishing the Montana resident student financial aid program, the legislature intends to collaborate with the board of regents and postsecondary institutions to create three types of aid programs for undergraduate students:

(a) an incentive program as established in 20-26-614 through 20-26-617 and funded by the state to encourage Montana resident students to pursue postsecondary credentials in science, technology, engineering, math, and health care fields that satisfy current and anticipated economic and workforce development needs in Montana;

(b) a merit program to recruit and retain the highest-achieving Montana resident students to units of the Montana university system, funded through tuition waivers, discounts, and other financial aid pursuant to policies adopted by the board of regents; and

(c) an access-to-higher-education program to provide scholarships and other financial aid funded by the foundations that have been established for the benefit of units of the university system and provided to Montana resident students who demonstrate financial need.

(3) The legislature intends to maximize federal need-based aid and work-study awards by providing sufficient state funding for federal matching requirements whenever possible.

(4) The legislature intends to continue its support of graduate exchange programs for Montana residents who are pursuing professional degrees outside the state.