Ill. Admin. Code tit. 23, § 2745.40 - Institutional Procedures
a) The
institution shall submit eligibility information for qualified applicants in
sufficient time for ISAC to make award announcements.
b) The institution shall submit its request
for payment within the time frame requested by ISAC, which shall be no sooner
than 30 days unless a more rapid response is necessary to expend appropriated
funds prior to the end of the academic year.
c) By submitting a payment request, an
institution is certifying that the qualified applicants meet the requirements
of Section 2745.20.
d) Funds shall be remitted by ISAC to
institutions on behalf of the recipients.
e) Upon receipt of scholarship funds, the
institution shall verify the qualified applicant's enrollment status, the
program the student is enrolled in, and the length of time necessary to
complete the program.
f) If the
applicant is enrolled in a program that meets the eligibility requirements in
Section 2745.20, the institution may
credit the scholarship funds to the student's account for cost of tuition and
fees due and payable.
g) Upon
receipt of the scholarship, if the qualified applicant has withdrawn from
enrollment for the terms for which the award was intended, the institution
shall return the amount of the scholarship payment to ISAC.
h) Assistance received by a student under
this Program must not be reduced by the receipt of other financial aid from any
source. Other aid must be reduced when the total amount of gift assistance
received would exceed the cost of attendance used to calculate Title IV aid for
that student.
i) To provide
sufficient time for processing and vouchering through the State Comptroller's
Office in Springfield, all payment requests, except for summer term, must be
received by ISAC no later than July 1. Summer term payment requests must be
received no later than July 31.
j)
Payment requests received after those dates for the award year will be
processed as time and available funds permit; however, final action may require
institutions to go to the Illinois Court of Claims to obtain payment for
approved claims. (See the Court of Claims Act [705 ILCS 505].)
Notes
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