D.C. Mun. Regs. tit. 29, r. 29-7010
Each payment period, the Mayor shall provide the institution a roster of eligible students who have expressed an interest in attending the institution.
Each payment period, the institution shall submit to the Mayor a roster of eligible students for payment:
A private institution shall determine the amount to request for each payment period by dividing the total amount of the annual award by the number of payment periods the institution expects the student will attend in that award year.
The institution shall submit the roster to the Mayor after the institution's drop/add period in order to account for the most accurate information with respect to the student's enrollment status.
If the student registers for an additional course after the institution has submitted its roster to the Mayor for payment, the institution may submit a supplemental roster for payment, except that the amount of payment requested may not result in the institution receiving on behalf of the student more money than is authorized under the College Access Act and this Chapter for the award year.
Upon receipt of the institutional roster, the Mayor shall review the information on the roster to determine that each student listed as eligible for the grant has filed an application for the grant and is eligible to receive the grant.
If the Mayor determines that a student on the roster has not submitted the appropriate documents and/or is not eligible for a grant, the Mayor shall notify the institution.
The Mayor shall determine the aggregate amount of funds to be paid to the institution on behalf of all eligible students attending the institution.
The Mayor shall transmit funds to the institution's account by use of the Automated Clearing House/Electronic Funds Transfer (ACH/EFT) or check within 30 days of receipt of the roster for payment of funds from the institution.
The Mayor shall provide to the institution a roster reflecting the names, social security numbers, and amounts of payment for each student transmitted to the institution's account.
The Mayor may require the institution to maintain the tuition assistance program funds in a separate bank or investment account that contains no other funds if the Mayor determines that the institution failed to comply with:
The institution shall maintain accounting and internal control systems that identify the cash balance of the tuition assistance funds that are included in the institution's bank or investment account as readily as if those program funds were maintained in a separate account.
The institution shall maintain its financial records in accordance with the requirements contained in § 7012.2 through 7012.8.
The institution shall exercise the level of care and diligence required of a fiduciary with regard to administering tuition assistance program funds.
D.C. Mun. Regs. tit. 29, r. 29-7010