[Code of Federal Regulations]
[Title 34, Volume 3]
[Revised as of July 1, 2001]
From the U.S. Government Printing Office via GPO Access
[CITE: 34CFR654.50]

[Page 360]
 
                           TITLE 34--EDUCATION
 
             CHAPTER VI--OFFICE OF POSTSECONDARY EDUCATION,
                         DEPARTMENT OF EDUCATION
 
PART 654--ROBERT C. BYRD HONORS SCHOLARSHIP PROGRAM--Table of Contents
 
       Subpart F--How Does a Scholar Receive Scholarship Payments?
 
Sec. 654.50  How does an SEA disburse scholarship funds?


    (a) Except as provided in paragraph (b) of this section, the SEA 
shall disburse $1,500 for each year of study for a maximum of four years 
of study to each scholar who--
    (1) Is selected in accordance with the criteria established under 
Sec. 654.41; and
    (2) Meets the requirements for continuing eligibility under 
Sec. 654.51.
    (b)(1) The SEA shall ensure that the total amount of financial aid 
awarded to a scholar for a year of study does not exceed the total cost 
of attendance.
    (2) The SEA shall ensure that loans are reduced prior to reducing a 
scholarship awarded under this program.
    (c) The SEA shall ensure that the selection process is completed, 
and the awards made, prior to the end of each secondary school academic 
year.

(Authority: 20 U.S.C. 1070d-38)