La. Admin. Code tit. 28 § IV-1213

Current through Register Vol. 50, No. 11, November 20, 2024

Section IV-1213 - Responsibilities of LOSFA

A. LOSFA shall pay each eligible Louisiana institution the amount requested by the eligible Louisiana institution in accordance with the provisions of §1209

B. LOSFA shall publish to the eligible Louisiana institutions on an annual basis:

1. the minimum and maximum annual awards, and the maximum lifetime award, if any;

2. any limitations on awards;

3. any changes in requirements for calculation of awards; and

4. any other changes in the program made by the board.

C. LOSFA shall determine the residency of students who do not meet the criteria enumerated in Subparagraph a of the definition of Louisiana resident in §1203 and notify eligible Louisiana institutions of its determination(s).

D. LOSFA shall maintain a database of all students who have received the GO Grant, included social security number, college code, term, date, hours attempted, award amount, annual amount received, and aggregate amount received. In the event LOSFA receives a payment request in an amount that would exceed the maximum amount payable to a student, LOSFA will require the school to rebill.

E. Adequacy of Funding

1. After the receipt of fall semester or term payment requests, LOSFA shall determine whether sufficient funds are available to pay all anticipated awards for subsequent semesters, terms and sessions of the academic year.

2. In the event projections indicate sufficient funds are not available, LOSFA shall notify the board.

3. LOSFA will provide to the board information that is necessary to determine appropriate funding amounts upon the request of the board.

F. LOSFA shall audit eligible Louisiana institutions to ensure compliance with these rules.

La. Admin. Code tit. 28, § IV-1213

Promulgated by the Student Financial Assistance Commission, Office of Student Financial Assistance, LR 33:2617 (December 2007), amended LR 34:239 (February 2008), LR 35:2350 (November 2009), LR 36:2853 (December 2010), LR 39:2237 (August 2013), Amended by the Board of Regents, Office of Student Financial Assistance, LR 44539 (3/1/2018).

AUTHORITY NOTE: Promulgated in accordance with R.S. 17:3021-3023 and R.S. 17:3046 et seq.