††††† 11 KAR 20:040. Disbursement.

 

††††† RELATES TO: KRS 164.7894

††††† STATUTORY AUTHORITY: KRS 164.744(2), 164.7894

††††† NECESSITY, FUNCTION, AND CONFORMITY: KRS 164.744(2) authorizes the authority to provide scholarships. KRS 164.7894(6) requires the authority to promulgate administrative regulations as may be needed for the administration of the program. This administrative regulation establishes the disbursement procedures for awards under the Kentucky Coal County College Completion Scholarship Program.

 

††††† Section 1. Eligibility Verification. Once the census date for each academic term has passed, the institution shall verify the eligibility of each student and submit to the authority a complete and accurate eligibility verification record that shall include the following:

††††† (1) The studentís enrollment status;

††††† (2) The number of credit hours in which the student is enrolled for the academic term; and

††††† (3) For a nonparticipating institution, confirmation of the studentís enrollment in an approved bachelorís degree program of study.

 

††††† Section 2. Disbursement and Delivery of Funds. (1) The authority shall disburse up to one-half (1/2) of the scholarship awarded for the academic year during each academic term.

††††† (2) Within thirty (30) days following receipt of the eligibility verification record, KCCCC scholarship funds shall be disbursed by the authority to the institution for subsequent delivery to the eligible student or application of the funds to the account of the eligible student.

 

††††† Section 3. (1) The educational institution shall:

††††† (a) Be responsible for proper disbursement of scholarship funds to each eligible student during the academic term for which each award is intended;

††††† (b) Not make scholarship funds available to the recipient nor apply those funds to the recipient's account after the end of the academic term for which the funds are received by the institution;

††††† (c) Be liable for disbursement to the wrong individual or to an ineligible student, or for untimely disbursement pursuant to this section; and

††††† (d) Make restitution to the authority of any amount improperly disbursed.

††††† (2) Failure of the institution to make restitution when required shall, without precluding other remedies, be cause for limitation, suspension, or termination of the participation of the institution in accordance with 11 KAR 4:020. (41 Ky.R. 1245; Am. 1508; eff. 2-6-2015.)