Section 2736.40  Institutional Procedures

a)         Claims for IIA-eligible students shall be submitted by the institution of record after the institution of record certifies to ISAC that the applicant meets the criteria listed in Section 2736.20, Applicant Eligibility.

b)         IIA grants are paid directly to the institution of record in two disbursements consisting of payments in an amount not to exceed $500 each term.

c)         Notwithstanding the provisions of other ISAC-administered programs, the total amount of a student's gift assistance may not exceed the cost of attendance used to calculate Title IV aid for that student.  If a student is receiving both MAP and IIA and the gift assistance exceeds the cost of attendance, IIA should be used first and MAP should be reduced to prevent an overaward.  For the purposes of this calculation, federal veterans benefits are not counted as gift assistance.

d)         For institutions with concurrent registration opportunities:

1)         the recipient must indicate his/her institution of record on the financial aid application;

2)         the institution of record shall distribute the appropriate share of the award to the other institutions.  Payment by ISAC will not be made to more than one institution;

3)         concurrent registration is limited to ISAC-approved institutions of higher learning; and

4)         the recipient's academic records  at the institution of record must document the total number of credit hours for which the student is enrolled.

e)         If a qualified applicant withdraws from enrollment after the expiration of the tuition refund/withdrawal adjustment period, the qualified applicant shall receive the IIA grant payment for that term.

f)         Institutional Processing of Payments

1)         Institutions may submit their payment requests beginning ten days prior to the start of classes for the term for which they are requesting payment.

2)         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.

3)         Payment requests received after August 1 for the prior academic year will be processed as time and available funds permit.  However, final action may require an institution to obtain payment for approved claims through the Illinois Court of Claims.  (See the Court of Claims Act [705 ILCS 505].)

4)         Within 30 days after receiving payment of any IIA funds, the institution shall credit the recipient's account for the appropriate term.

5)         IIA award payments in the name of one recipient cannot be applied to another recipient at the same institution.

6)         Following receipt of IIA payments from ISAC for the term, an institution is required to reconcile its records.  If the institution determines that refunds are due, they are to be processed and returned to ISAC no later than 60 days following the end of the academic term.  Should the payment arrive after the end of the term, the institution will have 60 days following the receipt of payment to complete the reconciliation process and return any funds due.

7)         If the institution does not submit refunds as required by this Section, ISAC will deduct outstanding refunds from subsequent institutional IIA payments.

(Source:  Amended at 30 Ill. Reg. 11661, effective July 1, 2006)