(1) The purpose of chapter 131-36 WAC is to implement the institutional financial aid fund established by RCW 28B.15.820.

(2) It is the intent of this chapter to provide for a financial aid program that will be operational in all Washington community and technical colleges.

(3) Each community college and technical college shall deposit a minimum of three and one-half percent of revenues collected from tuition and services and activities fees in to the institutional financial aid fund.

(4) These funds shall be used in addition to and not to replace institutional funds that would otherwise support locally administered financial aid programs.