Section 2768.40  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 a certification of eligibility for qualified applicants with its request for payment within the timeframe 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.  To provide sufficient time for processing and vouchering through the State Comptroller's Office in Springfield, all payment requests must be received by ISAC no later than July 1.

c)         ISAC shall disburse scholarship funds in two or three installments, depending on the number of courses financed by the scholarship, except that multiple disbursements shall not be required in cases where the applicant's eligibility is not determined until the final term of the academic year for which the scholarship is being awarded or when a student is attending only one term and the maximum award does not exceed the student's cost of attendance.

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 recipient's enrollment status for the term for which the award was intended. If enrolled, the institution may credit the scholarship funds to the recipient's account for tuition and non-revenue bond fees for courses taken that lead to a teaching certificate in an area of identified staff shortage.

f)         Upon receipt of the scholarship funds, if the recipient has withdrawn from enrollment for the courses for which the award was intended, the institution shall return the amount of the scholarship payment to ISAC.