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TITLE 19EDUCATION
PART 1TEXAS HIGHER EDUCATION COORDINATING BOARD
CHAPTER 22GRANT AND SCHOLARSHIP PROGRAMS
SUBCHAPTER MTEXAS EDUCATIONAL OPPORTUNITY GRANT PROGRAM
RULE §22.262Allocation and Reallocation of Funds

(a) Allocations.

  (1) Initial Year Funds. Available program funds for initial year awards will be allocated to each participating institution in proportion to each institution's share of the state's undergraduate financial aid population with significant amounts of financial need.

  (2) Renewal Year Funds. Available program funds for continuation or renewal awards will be allocated in proportion to the number of prior year recipients reported for each institution, adjusted for the institution's student retention rate.

(b) Reallocations. Institutions will have until a date specified by the Board via a policy memo addressed to the Program Officer at the institution to encumber the program funds that have been allocated to them. On that date, institutions lose claim to any unencumbered funds, and the unencumbered funds are available to the Board for reallocation to other institutions. If necessary for ensuring the full use of funds, subsequent reallocations may be scheduled until all funds are awarded and disbursed.

(c) Disbursement of Funds to Institutions. As requested by institutions throughout the fall and spring terms, the Board shall forward to each participating institution a portion of its initial and renewal year allocations of funds for immediate release to students or immediate application to student accounts at the institution.

(d) Release of Funds to Students. The institution may release all or part of the proceeds of a Texas Educational Opportunity Grant award to an eligible person only if the tuition and required fees incurred by the person at the institution have been paid.

(e) Authority to Transfer Funds. Institutions participating in a combination of the Texas Educational Opportunity Grant, Toward EXcellence, Access, and Success Grant, and Texas College Work-Study Programs, in accordance with instructions from the Board, may transfer in a given fiscal year up to the lesser of 10 percent or $20,000 between these programs.


Source Note: The provisions of this §22.262 adopted to be effective November 28, 2005, 30 TexReg 7871; amended to be effective November 20, 2013, 38 TexReg 8201

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