Notification of Intent to Receive Educational Benefits

Notification of Intent to Receive Educational Benefits. At such time as the Qualified Beneficiary intends to begin using the benefits under the MPACT Contract to attend a private or Out-of-State Postsecondary Institution, the Contract Purchaser must submit written notification, including the name of the Postsecondary Institution the Beneficiary will attend, not less than sixty (60) days prior to the projected commencement date for utilization of Contract benefits by the Qualified Beneficiary. Failure to provide at least sixty (60) days advance notice may result in the assessment of a fee in accordance with the provisions of Rule 12.2C as well as a delay in the availability of the MPACT Contract benefits until the academic term immediately following the term in which the projected commencement date for utilization of the MPACT Contract benefits falls.