Title 011 | Chapter 020 | Regulation 040
11 KAR 20:040.Disbursement.
Section 1.
Eligibility Verification. Once the census date for each academic term has passed, the institution shall verify the eligibility of each student and submit to the authority a complete and accurate eligibility verification record that shall include the following:(1)
The student's enrollment status;(2)
The number of credit hours in which the student is enrolled for the academic term; and(3)
For a nonparticipating institution, confirmation of the student's enrollment in an approved bachelor's degree program of study.Section 2.
Disbursement and Delivery of Funds.(1)
The authority shall disburse up to one-half (1/2) of the scholarship awarded for the academic year during each academic term.(2)
Within thirty (30) days following receipt of the eligibility verification record, KCCCC scholarship funds shall be disbursed by the authority to the institution for subsequent delivery to the eligible student or application of the funds to the account of the eligible student.Section 3.
(1)
The educational institution shall:(a)
Be responsible for proper disbursement of scholarship funds to each eligible student during the academic term for which each award is intended;(b)
Not make scholarship funds available to the recipient nor apply those funds to the recipient's account after the end of the academic term for which the funds are received by the institution;(c)
Be liable for disbursement to the wrong individual or to an ineligible student, or for untimely disbursement pursuant to this section; and(d)
Make restitution to the authority of any amount improperly disbursed.(2)
Failure of the institution to make restitution when required shall, without precluding other remedies, be cause for limitation, suspension, or termination of the participation of the institution in accordance with 11 KAR 4:020.HISTORY: (41 Ky.R. 1245; 1508; eff. 2-6-2015; Crt eff. 9-28-2018.)
11 KAR 20:040.Disbursement.
Section 1.
Eligibility Verification. Once the census date for each academic term has passed, the institution shall verify the eligibility of each student and submit to the authority a complete and accurate eligibility verification record that shall include the following:(1)
The student's enrollment status;(2)
The number of credit hours in which the student is enrolled for the academic term; and(3)
For a nonparticipating institution, confirmation of the student's enrollment in an approved bachelor's degree program of study.Section 2.
Disbursement and Delivery of Funds.(1)
The authority shall disburse up to one-half (1/2) of the scholarship awarded for the academic year during each academic term.(2)
Within thirty (30) days following receipt of the eligibility verification record, KCCCC scholarship funds shall be disbursed by the authority to the institution for subsequent delivery to the eligible student or application of the funds to the account of the eligible student.Section 3.
(1)
The educational institution shall:(a)
Be responsible for proper disbursement of scholarship funds to each eligible student during the academic term for which each award is intended;(b)
Not make scholarship funds available to the recipient nor apply those funds to the recipient's account after the end of the academic term for which the funds are received by the institution;(c)
Be liable for disbursement to the wrong individual or to an ineligible student, or for untimely disbursement pursuant to this section; and(d)
Make restitution to the authority of any amount improperly disbursed.(2)
Failure of the institution to make restitution when required shall, without precluding other remedies, be cause for limitation, suspension, or termination of the participation of the institution in accordance with 11 KAR 4:020.HISTORY: (41 Ky.R. 1245; 1508; eff. 2-6-2015; Crt eff. 9-28-2018.)