01 NCAC 26B .0212. MANNER OF PAYMENT BY THE STATE TO PUBLIC INSTITUTIONS

All reimbursements will be made at the end of each quarter, semester or other academic term upon a proper billing from the institution. Therefore, all billings and reimbursements and all deductions from remaining scholarship eligibility time must be for a full semester, quarter or other academic term except where summer sessions or quarters must be expressed as a fraction of a semester or vice versa.