14. An institution declared to be of public interest shall receive, for each school year and for each pupil registered full time on the 30th of September of such school year, a grant equal to 80 per cent of the average cost per pupil, as computed for the preceding school year for public establishments of the same class, according to the standards in force for the approval of the budgets of such establishments.
Where such an institution provides education at the college level and where the curricula extend over five terms, the number of full-time pupils that must be considered for purposes of the grant contemplated in the first paragraph is the average number of pupils registered full time for those curricula on 30 September and 31 January of the school year.
Such institution, to qualify for such grant, must not require of its pupils tuition and other related fees exceeding the difference which must be made up in order to reach the average cost mentioned in the first paragraph, plus ten per cent of such average cost.
1968, c. 67, s. 14; 1979, c. 23, s. 29.