Current through Register Vol. XLI, No. 50, December 13, 2024
Section 135-8-9 - Collections9.1. Institutional and Council staff shall exercise due diligence in collecting monetary repayments from grant recipients.9.2. Institutional due diligence means: 9.2.1. Conducting counseling with the student both at entrance and exit providing the student with information necessary to carry out the terms of repayment, reminds the recipient of the rights and responsibilities associated with the grant funds, and updates the recipient's personal information to assist in locating the recipient if he or she fails to keep the institution or the Council informed of his or her address.9.3. Council due diligence means: 9.3.1. Notifying the grant recipient of his/her obligations annually during any grace or deferment period.9.3.2. Performing regular billing.9.3.3. Following up past due payments with a series of documented and reasonably spaced attempts to contact the student before the obligation becomes 120 days past due, provided the Council has a current address for the student.9.3.4. Referring defaulted grants more than 150 days past due to the Secretary of the Department of Administration or to a collection agent.