(iii) Notwithstanding any authorization received with the institution under this paragraph, spend any remaining harmony on mortgage money by the top of your personal loan interval and any remaining other title IV, HEA application funds by the end of the final payment period of time while in the award year for which they were being awarded.
Except for funds supplied by the Secretary for administrative costs, and for money employed for The task Area and Progress System less than twenty CFR section 675, subpart B, resources been given by an establishment beneath the title IV, HEA systems are held in believe in for your intended beneficiaries or the Secretary. The establishment, to be a trustee of Those people resources, might not use or hypothecate (
(A) The entire thought for essentially the most recently concluded award calendar year, monetary and non-financial, paid or acquired because of the get-togethers beneath the conditions from the agreement; and
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The Secretary considers excess cash to generally be any number of title IV, HEA software funds, besides Federal Perkins Mortgage program cash, that an institution won't disburse to college students by the tip from the 3rd business day pursuing the day the institution—
(1) An institution could credit rating a university student's ledger account with title IV, HEA plan funds to pay for allowable expenses linked to The present payment period of time. Allowable charges are—
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(ii) If the student concluded the payment time period or duration of enrollment, the institution ought to offer the scholar or mother or father the selection to acquire the quantity of title IV, HEA application money that the scholar or mother or father was qualified to receive although the scholar was enrolled within the institution.
transfers concerning levels of the 'honest price hierarchy' or variations within the classification of economic property
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