N.H. Admin. Code § Ed 324.06

Current through Register No. 50, December 12, 2024
Section Ed 324.06 - EFA Disbursement
(a) For the first year of the program funding shall be disbursed 4 times during state fiscal year 2022, pursuant to the adjusted amounts determined using RSA 198:40-a, II based on an enrollment count of the verified student applications received by the department from the scholarship organization no later than the date indicated in Table 324-1, and in accordance with the state fiscal year 2022 EFA disbursement schedule in Table 324-1 below:

Table 324-1 State Fiscal Year 2022 EFA Disbursement Schedule

EFA Funds Available

Allocated funds to be disbursed per state fiscal year

Student Application Verified and Reported to the Department by:

September 1

20%

October 2

November 1

20%

October 2

January 1

30%

December 2

April 1

30%

March 2

(b) Beginning in state fiscal year 2023 and every year after, funding shall be disbursed 4-times per state fiscal year, in accordance with RSA 198:40-a in accordance with the EFA disbursement schedule in Table 324-2 below:

Table 324-2 EFA Disbursement Schedule

EFA Funds Available

Allocated funds to be disbursed per state fiscal year

Student Application Verified and Reported to the Department by:

September 1

20%

August 2

November 1

20%

October 2

January 1

30%

December 2

April 1

30%

March 2

(c) Applications in Ed 324.04(b) may be submitted to the scholarship organization throughout the year on a rolling basis, but shall be confirmed complete by the scholarship organization before a parent, guardian, or EFA student shall have access to EFA account funds.

N.H. Admin. Code § Ed 324.06

Derived from Volume XLI Number 41, Filed October 14, 2021, Proposed by #13257, Effective 8/27/2021, Expires 2/23/2022