Ill. Admin. Code tit. 23 § 2738.40

Current through Register Vol. 48, No. 45, November 8, 2024

Section 2738.40 - Institutional Procedures

a) The institution shall certify the applicant's award amount 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.

b) The institution shall determine the amount of each grant, which shall be the lesser of:

1) $1,000; or

2) tuition and mandatory fees.

c) Institutional packaging of assistance:

1) If the recipient receives other assistance targeted specifically for tuition and mandatory fees, the combined assistance shall not exceed the total tuition and mandatory fee expenses incurred by the student. If it does, the institution shall reduce awards accordingly.

2) Notwithstanding the provisions of other ISAC administered programs, the total amount of a student's gift assistance may not exceed the student's cost of attendance at that institution. Any excess gift assistance is considered an overaward and the institution is required to notify ISAC to reduce this grant or other gift assistance to prevent an overaward.

3) If the recipient is eligible for assistance under MAP, the recipient may not be eligible for a full MAP grant because the Grant Program for a Child Raised by Grandparent must be factored into the financial aid package prior to receiving MAP gift assistance. The institution, however, may request a MAP grant to finance tuition and mandatory fee expenses not paid by this program.

d) When submitting payment requests, the institution shall certify that the recipient meets the eligibility requirements.

e) Within 30 days after and including the date of receiving payment, the institution shall credit the award toward the recipient's tuition and mandatory fee charges for the appropriate term.

f) Award payments made in the name of one recipient cannot be applied to another recipient at the same institution. A refund of the payment must be submitted to ISAC and a supplemental request must be made and processed for the proper recipient.

g) 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.

Ill. Admin. Code tit. 23, § 2738.40