Any given Eligible Person shall be entitled to one (1) grant award under the Student Loan Assistance Grant Program. There shall be a limit of one (1) grant and/or One Eligible Person per household. Any grant award shall be in an amount equal to the lesser of fifty percent (50%) of the applicant's outstanding student loan debt as of the date of application or fifty thousand and 00/100 dollars ($50,000.00). (Ord. 2020-24. Passed 5-5-20.)