Ala. Admin. Code r. 300-4-3-.05

Current through Register Vol. 43, No. 02, November 27, 2024

Section 300-4-3-.05 - Proration Of Funds

(1) The deadline for receipt of certified awards lists from approved institutions for Fall Term shall be October 15. From the certified award lists in the ACHE office on October 16, the anticipated number of grant recipients shall be calculated. Available funds shall be prorated and a Yearly Maximum Award Payment (YMAP) calculated, with the assumption that all eligible students reported shall be enrolled for the full school year. Students enrolled in a semester term shall receive one-half (1/2) of their YMAP. Students enrolled in a quarter term shall receive one-third (1/3) of their YMAP.

(2) Second semester or quarter certified award lists should be forwarded to ACHE by the approved institution as soon as the necessary information is available, but no later than March 15. For the second term, students enrolled in a semester term shall receive one-half (1/2) of their YMAP, and students enrolled in a quarter term shall receive one-third (1/3) of their YMAP.

(3) Third quarter certified award lists should be forwarded to ACHE by the approved institution as soon as the necessary information is available, but no later than May 15. For the third quarter, students shall receive one-third (1/3) of their YMAP.

Ala. Admin. Code r. 300-4-3-.05

Filed September 30, 1982.

Amended by Alabama Administrative Monthly Volume XXXVII, Issue No. 06, March 29, 2019, eff. 5/2/2019.

Authors: Joseph T. Sutton; Timothy W. Vick

Statutory Authority:Code of Ala. 1975, §§ 16-33A-1, et seq.