Section 2743.40  Institutional Procedures

a)         Institutions shall submit payment requests to ISAC.

b)         Except as otherwise allowed by Section 2743.30(h), funds shall be remitted by ISAC to participating institutions on behalf of the applicant.

c)         Upon receipt of grant funds, the institution shall verify the recipient's enrollment status for the term for which the award was intended.

d)         Upon receipt of the grant funds, if the recipient has withdrawn from enrollment for the terms for which the award was intended or if the grant exceeds the cost of attendance after other available financial aid has been applied, the institution shall return the appropriate amount of the grant payment to ISAC.

e)         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.