[Code of Federal Regulations]
[Title 34, Volume 3]
[Revised as of July 1, 2007]
From the U.S. Government Printing Office via GPO Access
[CITE: 34CFR691.7]

[Page 913]
 
                           TITLE 34--EDUCATION
 
 CHAPTER VI--OFFICE OF POSTSECONDARY EDUCATION, DEPARTMENT OF EDUCATION
 
PART 691_ACADEMIC COMPETITIVENESS GRANT (ACG) AND NATIONAL SCIENCE AND 
 
            Subpart A_Scope, Purpose, and General Definitions
 
Sec. 691.7  Institutional participation.

    (a) An institution that offers one or more eligible programs, as 
defined in Sec. 691.2(d), for purposes of the ACG Program, and that 
participates in the Federal Pell Grant Program under 34 CFR part 690 
must participate in the ACG Program.
    (b) An institution that offers one or more eligible programs, as 
defined in Sec. 691.2(d), for purposes of the National SMART Grant 
Program, and that participates in the Federal Pell Grant Program under 
34 CFR part 690 must participate in the National SMART Grant Program.
    (c) If an institution begins participation in the ACG or National 
SMART Grant Program during an award year, a student enrolled and 
attending that institution is eligible to receive a grant under this 
part for the payment period during which the institution begins 
participation and any subsequent payment period.
    (d) If an institution becomes ineligible to participate in the ACG 
or National SMART Grant Program during an award year, a student who was 
eligible for a grant under Sec. 691.15 who was attending the 
institution and who submitted a valid SAR to the institution, or for 
whom the institution obtained a valid ISIR, before the date the 
institution became ineligible is paid a grant for that award year for--
    (1) The payment periods that the student completed before the 
institution became ineligible; and
    (2) The payment period in which the institution became ineligible.
    (e)(1) If an institution loses its eligibility to participate in the 
Federal Pell Grant Program under the provisions of subpart M of 34 CFR 
part 668, it also loses its eligibility to participate in the ACG or 
National SMART Grant Program for the same period of time.
    (2) That loss of eligibility must be in accordance with the 
provisions of 34 CFR 668.187.
    (f) An institution that becomes ineligible shall, within 45 days 
after the effective date of loss of eligibility, provide to the 
Secretary--
    (1) The name of each eligible student under Sec. 691.15 who, during 
the award year, submitted a valid SAR to the institution or for whom it 
obtained a valid ISIR before it became ineligible;
    (2) The amount of funds paid to each grant recipient for that award 
year;
    (3) The amount due each student eligible to receive a grant through 
the end of the payment period during which the institution became 
ineligible; and
    (4) An accounting of the ACG or National SMART Grant Program 
expenditures for that award year to the date of termination.

(Authority: 20 U.S.C. 1070a-1)