Alabama Administrative Code › Title 300 - ALABAMA COMMISSION ON HIGHER EDUCATION › Chapter 300-4-3 - ALABAMA STUDENT GRANT PROGRAM › Section 300-4-3-.04 - Distribution Of Funds

Current through Register Vol. 42, No. 9, June 28, 2024
(1)
			 ACHE shall determine from the certified award lists received from all approved
			 institutions the per grant dollar amount per eligible student for each academic
			 term. Each eligible full-time student may receive a maximum of $1,500 per
			 semester or $1000 per quarter. Each eligible half-time student may receive a
			 maximum of $750 per semester or $500 per quarter. No eligible student shall
			 receive more than $3,000 per academic year, nor shall any student receive a
			 grant at more than one approved institution during any one academic
			 term.
(2) ACHE shall determine the
			 dollar amount of each grant and shall prepare a voucher each term requesting
			 that the State Comptroller disburse ASGP funds for eligible students. As
			 Special Education Trust Funds become available, the order in which institutions
			 will be issued Fall Term checks shall be determined by a random and public
			 drawing during September of institutional names, with first-drawn/first-paid to
			 last-drawn/ last-paid. Checks for second term shall be issued in reverse
			 order--last-drawn/first-paid to first-drawn/last-paid. Checks for Spring
			 Quarter shall be issued in the same order as full term.
(3) Institutions must request and receive
			 approval from ACHE to distribute ASGP funds in the following manner:
(a) The State Comptroller shall prepare a
			 check payable to the approved institution for the total dollar amount of
			 eligible grants submitted on the award list. The check and a signature roster
			 with the dollar amount of grant payment indicated for each eligible student
			 shall be forwarded to the approved institution. No later than fourteen (14)
			 work days after receipt of the grant check, the approved institution shall
			 credit each eligible student's account with the dollar amount indicated on the
			 signature roster. Should the dollar amount of a grant credited to an eligible
			 student's account exceed the dollar amount due the institution by the student
			 at the time an ASGP grant is credited to an eligible student's account, a check
			 in the amount of the excess funds (credit) shall be issued within the allotted
			 fourteen (14) work days to the eligible student by the approved institution. No
			 later than thirty (30) work days after receipt of the check and signature
			 roster, the approved institution shall return any undeliverable funds to
			 ACHE.
(b) A signature roster with
			 the dollar amount of grant payment indicated for each eligible student shall be
			 forwarded to the approved institution. No later than thirty (30) work days
			 after receipt of the signature roster, the approved institution shall credit
			 each eligible student's account with the dollar amount indicated on the
			 signature roster. Should the dollar amount of a grant credited to an eligible
			 student's account exceed the dollar amount due the institution by the student
			 at the time an ASGP grant is credited to an eligible student's account, a check
			 in the amount of the excess funds (credit) shall be issued to the eligible
			 student by the approved institution within the allotted fourteen (14) work days
			 after the total dollar amount of eligible grants submitted on the award list.
			 If the check is forwarded to the institution after students' accounts are
			 credited, the approved institution shall return, within fourteen (14) days, any
			 undeliverable funds to ACHE. If the check is forwarded to the institution prior
			 to the date students' accounts are credited the approved institution shall
			 return, within thirty (30) work days, undeliverable funds to ACHE.