Section 20 AAC 16.040 - Grant disbursement and refund(a) The commission staff shall distribute available grant money to schools for certified grant applicants.(b) Unless a participating school requests an alternative distribution schedule, the commission will distribute grant money to the schools on or after the final date on which the school permits a student to modify course enrollment without a financial penalty.(c) A school shall disburse grant awards in proportionate installments based upon the terms, quarters, or semesters used by the institution of attendance. A grant awarded for attendance at an institution that does not operate on a term basis shall be disbursed in two equal installments. The first installment shall be made at the beginning of the program and the second shall be made at the halfway point, based on the dates of attendance for which the grant was awarded. Grant awards not disbursed to the student within 30 calendar days from the date the money is transferred to the institution shall be returned to the commission.(e) If a student becomes eligible for a refund in excess of $50 or it is determined that the student is overawarded in excess of $50, the school shall, within 30 days after the date that the overaward was noted or the student became eligible for a refund, make any refund or return of grant monies to the commission.(g) An institution may not disburse grant funds to a student who is on an approved leave of absence unless the student has already successfully completed the program period for which the grant funds were awarded.(h) an eligible institution is responsible for maintaining documentation that the school verified the identity of the student before disbursing any grant money to the student.Eff. 6/13/80, Register 74; am 12/13/84, Register 92; am 2/20/2005, Register 173; am 12/28/2008, Register 188; am 10/3/2011, Register 200; am 4/4/2013, Register 206; am 2/22/2015, Register 213, April 2015; am 4/6/2018,Register 226, July 2018Authority:AS 14.42.030
AS 14.43.405
AS 14.43.406
AS 14.43.415