(ii) To some mum or dad, for the quantity of the Immediate Furthermore Mortgage cash that a dad or mum won't authorize the scholar to acquire, by—
(1) Before an institution disburses title IV, HEA method resources for virtually any award yr, the establishment will have to notify a pupil of the amount of cash that the scholar or her or his mother or father can hope to acquire less than Each and every title IV, HEA system, And just how and when All those cash will likely be disbursed.
(ii) (A) Notifying the depository institution which the depository account is made up of title IV, HEA program funds that are held in belief and retaining a history of that notice; and
(B) Is employed entirely for actions that guidance building direct payments to the scholar rather than for any other purpose; and
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(ii) The economical account or entry system is cobranded Together with the establishment's identify, emblem, mascot, or other affiliation and is promoted principally to college students in the institution; or
Under the heightened cash checking payment strategy, an establishment need to credit rating a college student's ledger account for the level of title IV, HEA method funds that the student or dad or mum check here is eligible to receive, and pay out the amount of any credit score harmony owing less than § 668.164(h), before the establishment—
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