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(i) The establishment could disburse the title IV, HEA program money for which the student is suitable; and

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(B) The day the student finished the cumulative quantity of credit rating hrs affiliated with the student's enrollment status in all prior terms that the scholar attended under the definition of a membership-based system in § 668.2.

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(four) The Secretary will not approve the level of the establishment's reimbursement request for any student or father or mother and is not going to initiate an EFT of that amount to the depository account selected because of the institution, In the event the Secretary determines regarding that college student or father or mother, and within the judgment of the Secretary, that the establishment has not—

This information and facts helps make the transfer of cash to your account in the case of a financial loan offer more rapidly and safer. Will this information and facts be used to just take resources out of my account?

suggests a transaction initiated electronically instructing the crediting or debiting of the economic account, or an establishment's depository account. For purposes of transactions initiated because of the Secretary, the term “EFT” contains all transactions coated by 31 CFR 208.

(i) An establishment situated in a State which makes immediate payments into a university student by EFT and that enters into an arrangement explained in paragraph (e) or (f) of the part, which include an institution that makes use of a third-bash servicer for making People payments, need to establish a variety procedure less than which the coed chooses certainly one of quite a few choices for acquiring People payments.

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(i) Pinpointing the sort and degree of title IV, HEA program funds that a pupil is eligible to receive;