Kentucky Administrative Regulations
Title 11 - KENTUCKY HIGHER EDUCATION ASSISTANCE AUTHORITY
Chapter 12 - Kentucky Educational Savings Plan Trust
Section 11 KAR 12:070 - Benefits payable from the Kentucky Educational Savings Plan Trust Program fund
Current through Register Vol. 50, No. 9, March 1, 2024
RELATES TO: KRS 164A.310(8), 164A.330(5), 164A.335, 26 U.S.C. 529
NECESSITY, FUNCTION, AND CONFORMITY: KRS 164A.325(9) authorizes the board to promulgate administrative regulations to implement the Kentucky Educational Savings Plan Trust. This administrative regulation establishes the maximum benefits payable in an academic period, the duration of the payments, the payment of benefits for a beneficiary residing off campus and the notice provisions for a refund of the payments for nonuse or unused benefits from the program fund.
Section 1. Distribution of Benefits.
Section 2. Beneficiary Residing Off Campus. If a beneficiary resides off campus, upon written request of the participant, the program administrator shall pay to the beneficiary, for room and board for an academic period, that portion of higher education costs not paid to the institution that shall not exceed the amount of the beneficiary's higher education costs permitted for room and board pursuant to 26 USC 529.
Section 3. Unused Benefits.
STATUTORY AUTHORITY: KRS 164A.325(9)