CFR > Title 34 - Education > SUBTITLE B—Regulations of the Offices of the Department of Education > CHAPTER VI—OFFICE OF POSTSECONDARY EDUCATION, DEPARTMENT OF EDUCATION (parts 600 to 694) > PART 686—TEACHER EDUCATION ASSISTANCE FOR COLLEGE AND HIGHER EDUCATION (TEACH) GRANT PROGRAM > SUBPART C—Determination of Awards (§686.20 to §686.25) > 686.23—Calculation of a grant for a payment period that occurs in two award years.

686.23—Calculation of a grant for a payment period that occurs in two award years.

If a student enrolls in a payment period that is scheduled to occur in two award years—
(a) The entire payment period must be considered to occur within one award year;
(b) The institution must determine for each TEACH Grant recipient the award year in which the payment period will be placed subject to the restriction set forth in paragraph (c) of this section;
(c) The institution must place a payment period with more than six months scheduled to occur within one award year in that award year;
(d) If the institution places the payment period in the first award year, it must pay a student with funds from the first award year; and
(e) If the institution places the payment period in the second award year, it must pay a student with funds from the second award year.

Code of Federal Regulations

(Authority: 20 U.S.C. 1070g , et seq.)