(A) With the later of the primary day of a payment period or 14 days once the date it notifies the coed or father or mother of their appropriate to terminate all or perhaps a percentage of a loan or TEACH Grant, In case the institution obtains affirmative affirmation from the student underneath paragraph (a)(6)(i) of this section; or
use as collateral) the funds for almost every other reason or in any other case interact in almost any apply that dangers the loss of those resources.
(two) An establishment seeks reimbursement by publishing to the Secretary a ask for for money that does not exceed the quantity of the disbursements the establishment has created to learners or dad and mom included in that ask for.
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(i) For just a Immediate Financial loan, the scholar is now not enrolled at the establishment as at least a 50 %-time student for your duration of enrollment for which the loan was supposed; or
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(i) The Secretary processed a SAR or ISIR having an official envisioned household contribution for the student for that related award year; and
The institution must return straight away on the Secretary any level of excessive cash above the one-per cent tolerance and any degree of extra cash remaining in its account once the 7-day tolerance period of time.
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(ii) If the coed completed the payment period of time or period of enrollment, the institution must give the student or guardian the choice to obtain the level of title IV, HEA system resources that the student or guardian was suitable to get while the coed was enrolled at the institution.
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to create their interim economical studies accessible not later on than sixty days following the end on the interim period.