2409. AWARD AND DISBURSEMENT OF ASSISTANCE

2409 AWARD AND DISBURSEMENT OF ASSISTANCE 2409.1 The Administrator shall award loans to participants to the extent funds are available in accordance with the criteria in section 2408. 2409.2 The Administrator shall disburse the first payment for each loan within ninety(90) days after the application is approved and the loan is awarded. 2409.3 The Administrator shall disburse loan payments to participants in semi-annual installments to the extent funds are available, in accordance with the criteria in section 2408, until repayment of the eligible debt is complete, the maximum amount of loan repayment assistance stated in § 2403.8 is reached, or the participant no longer meets the eligibility requirements stated in § 2404, whichever occurs first. SOURCE: Final Rulemaking published at 54 DCR 1025 (February 2, 2007).