Section 686.33 - Frequency of payment(a) In each payment period, an institution may pay a student at such times and in such installments as it determines will best meet the student's needs.(b) The institution may pay funds in one lump sum for all the prior payment periods for which the student was eligible under § 686.11 within the award year as long as the student has signed the agreement to serve prior to disbursement of the TEACH Grant. The student's enrollment status must be determined according to work already completed. Authority: 20 U.S.C. 1070g , et seq.