use as collateral) the funds for another objective or if not engage in any practice that hazards the loss of These money.
(ii) To the mum or dad, for the level of the Immediate Furthermore Mortgage funds that a guardian would not authorize the scholar to obtain, by—
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equilibrium sheet (assertion of monetary place) as of the tip of the current interim time period and also a comparative equilibrium sheet as of the end in the quickly preceding fiscal 12 months
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(2) A title IV, HEA credit history stability need to be paid directly to the coed or mother or father as soon as possible, but no later than—
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(i) For a system with significantly equivalent payment periods, dividing the total institutional charges for the program by the number of payment intervals in the program; or
(i) If the student is enrolled within a credit score-hour system presented in phrases that happen to be considerably equivalent in duration that isn't a subscription-based program, ten days before the to start with working day of lessons of a payment period;
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Aside from cash supplied by the Secretary for administrative costs, and for funds used for The work Site and Progress Method underneath 20 CFR part 675, subpart B, resources acquired by an institution underneath the title IV, HEA applications are held in believe in for the meant beneficiaries or the Secretary. The establishment, as being a trustee of those cash, may not use or hypothecate (