(1)Institutions shall disburse grants to students identified by the Commission from funds provided by the Commission on an academic term basis.
(2)Institutions shall not disburse grants to students who cease to meet conditions of award identified by the Commission.
(3)If, as a result of an institutional error, grants are disbursed to ineligible students, to students in ineligible programs, or to students for an inappropriate number of terms, the institution shall reimburse the State of Oregon the full amount of monies erroneously disbursed.
(4)Institutions shall disburse grants to eligible students within a time schedule established annually by the Commission.
(5)Institutions shall submit regular reports to the Commission regarding disbursements made to eligible students on a schedule determined by the Commission.
(6)Institutions shall refund unused grant funds to the Commission within a time schedule established annually by the Commission.
(7)Generally, a disbursement may not be made to a student who is no longer eligible. An otherwise eligible student becomes ineligible for an Oregon Opportunity Grant on the date that the student is no longer enrolled at the institution for the award year. With Commission approval, institutions may make late disbursements of retroactive awards for prior academic terms up to 60 days after the close of the year-end account reconciliation process or up to 60 days after the end of the student’s period of enrollment, whichever is earlier.
Rule 575-031-0045 — Disbursements,