TITLE 23: EDUCATION AND CULTURAL RESOURCES
SUBTITLE A: EDUCATION
CHAPTER XIX: ILLINOIS STUDENT ASSISTANCE COMMISSION
PART 2763 MINORITY TEACHERS OF ILLINOIS (MTI) SCHOLARSHIP PROGRAM
SECTION 2763.40 INSTITUTIONAL PROCEDURES
Section 2763.40 Institutional Procedures
a) The institution shall submit eligibility information for qualified applicants in sufficient time for ISAC to make award announcements.
b) The institution shall submit its request for payment within the time frame requested by ISAC, which shall be no sooner than 30 days unless a more rapid response is necessary to expend appropriated funds prior to the end of the academic year.
c) ISAC shall disburse scholarship funds in two or three installments, depending on the number of terms financed by the scholarship, except that multiple disbursements shall not be required in cases where the applicant's eligibility is not determined until the final term of the regular school year for which the scholarship is being awarded or when a student is attending only one term and the maximum award does not exceed the student's cost of attendance.
d) Funds shall be remitted by ISAC to institutions on behalf of the recipients.
e) Upon receipt of scholarship funds, the institution shall verify the recipient's enrollment status for the term for which the award was intended. If enrolled, the institution may credit the scholarship funds to the recipient's account for expenses due and payable. The balance of the disbursement shall be released to the recipient.
f) Upon receipt of the scholarship funds, if the recipient has withdrawn from enrollment for the terms for which the award was intended, the institution shall return the amount of the scholarship payment to ISAC.
g) Scholarship Amount
1) MTI scholarships are applicable only toward tuition and fees and room and board charges or commuter allowances, if applicable.
2) The annual scholarship amount shall be computed by the institution and must be the lesser of:
A) tuition and fees plus room and board expenses charged by the institution;
B) tuition and fees plus the standard commuter allowance for students living off-campus; or
3) The total amount of MTI scholarship assistance awarded to a qualified applicant in a given regular school year, when added to the other financial aid available to the qualified applicant for that year, cannot exceed the cost of attendance.
4) A qualified applicant may receive grant assistance under the Monetary Award Program (23 Ill. Adm. Code 2735) only up to the amount by which the qualified applicant's cost of attendance exceeds the amount of the MTI scholarship.
h) To provide sufficient time for processing and vouchering through the State Comptroller's Office in Springfield, all payment requests must be received by ISAC no later than July 1.
(Source: Amended at 37 Ill. Reg. 9544, effective July 1, 2013)