Current through Register Vol. 51, No. 3, September 1, 2024
RELATES TO:
KRS
164.7885(4)
NECESSITY, FUNCTION, AND CONFORMITY:
KRS
164.748(4) requires the
authority to promulgate administrative regulations pertaining to the awarding
of grants, scholarships, and honorary scholarships as provided in
KRS
164.740 to
164.785.
KRS
164.7885(7) requires the
authority to promulgate administrative regulations for the administration of
the Kentucky Educational Excellence Scholarship Program. This administrative
regulation establishes the disbursement procedures for Kentucky Educational
Excellence scholarships.
Section 1.
Disbursement of Funds.
(1) KEES funds shall
be disbursed by the authority to the participating institution in the form of a
single check, made payable to the participating institution, or by electronic
funds transfer delivered to the participating institution for subsequent
delivery to the eligible postsecondary student.
(2) Within thirty (30) days following receipt
of the eligibility verification file, the disbursement of KEES funds by the
authority to the participating institution shall be made for subsequent
delivery by the institution to an eligible postsecondary
student.
Section 2.
Delivery of funds by the participating institution.
(1) The participating institution shall be
responsible for proper delivery of KEES funds. The participating institution
shall not make KEES funds available to the eligible postsecondary student nor
apply the funds to the recipient's account prior to the date that the eligible
postsecondary student has completed the registration requirements (except for
the payment of tuition and fees) at the participating institution for the
academic term for which the Kentucky Educational Excellence Scholarship is
disbursed.
(2) The participating
institution shall be liable for delivery to the wrong person or to an
ineligible student and shall make restitution to the authority of an amount
improperly delivered. Failure of the participating institution to make
restitution as required shall, without precluding other remedies, be deemed
cause for limitation, suspension, or termination of the participation of the
institution in accordance with
11
KAR 4:020.
STATUTORY AUTHORITY:
KRS
164.748(4),
164.7885(7)
