Section 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g)         Upon receipt of the scholarship, if the qualified applicant has withdrawn from enrollment for the terms for which the award was intended, the institution shall return the amount of the scholarship payment to ISAC.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].)