| (a) Allocations. Available program funds will be allocated to each participating institution in proportion to each institution's TEG need, as calculated by the Board staff based on responses from institutions to the annual TEG Need Survey. (b) Reallocations. Institutions will have until a date specified by Board staff 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 funds not yet drawn down from the Board for immediate disbursement to students. The funds released in this manner 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. |
