225.20—When may a grantee draw down funds?
(a)
A grantee may draw down funds after it has signed a performance agreement acceptable to the Department of Education and the grantee.
(b)
A grantee may draw down and spend a limited amount of funds prior to reaching an acceptable performance agreement provided that the grantee requests to draw down and spend a specific amount of funds and the Department of Education approves the request in writing.