691.61—Submission process and deadline for a Student Aid Report or Institutional Student Information Record.
(a) Submission process.
(1)
Except as provided in paragraph (a)(2) of this section, an institution must disburse an ACG or a National SMART Grant to a student who is eligible under § 691.15 and is otherwise qualified to receive that disbursement and electronically transmit disbursement data to the Secretary for that student if—
(2)
In determining a student's eligibility to receive a grant under this part, an institution is entitled to assume that the SAR information or ISIR information is accurate and complete except under the conditions set forth in 34 CFR 668.16(f) and 668.60.
(b) Student Aid Report or Institutional Student Information Record deadline.
Except as provided in the verification provisions of 34 CFR 668.60 and the late disbursement provisions of 34 CFR 668.164(g) of this chapter, for a student to receive a grant under this part in an award year, the student must submit the relevant parts of the valid SAR to his or her institution or the institution must obtain a valid ISIR by the earlier of—
(1)
The last date that the student is still enrolled and eligible for payment at that institution; or
(2)
By the deadline date established by the Secretary through publication of a notice in the Federal Register.