281 NAC 5-005. INSTITUTIONAL RESPONSIBILITIES (as agents of the Commission)

005 INSTITUTIONAL RESPONSIBILITIES (as agents of the Commission) 005.01. The eligible postsecondary educational institution shall act as an agent of the Commission to disburse the awards directly to eligible students during the award year. 005.02. As agents of the Commission, the eligible postsecondary educational institutions shall: 005.02A. Receive and process applications for awards from enrolled students as determined by the Nebraska Opportunity Grant Act. 005.02B. Determine eligibility of students based on criteria established in Commission rules and regulations as set forth in the definitions of the Act. 005.02C. Determine awards without regard to race, creed, color, national origin, ancestry, age, sex, or handicap. 005.02D. Submit, prior to June 1 of each award year, recommendations as often as necessary to the Commission for awards to eligible students, including the name of each eligible student, social security number of each eligible student, the recommended amount for each eligible student, and other information necessary for the Commission to determine compliance with the Act. 005.02E. After notification of approval of awards to eligible students and distribution of total award amounts approved for eligible students by the Commission, disburse the awards directly to the eligible students during the award year. 005.02F. Require all award recipients to certify that the award will be used only for educational expenses. 005.03. Maintenance of all recipient records of awards shall be the responsibility of the eligible postsecondary educational institution. 005.04. Disbursement of awards made by an institution shall cover at least one award period but no more than one award year. This does not prevent an institution from making awards to the same students in successive years. 005.05. To participate in the Act, all eligible postsecondary educational institutions shall complete an annual application and statement of assurance provided by the Commission for such purpose. Postsecondary educational institutions failing to complete these documents, in their entirety within the time period allowed, may be deemed ineligible to participate in the Act for the application award year. (See Appendices A and B) 005.06. An audit trail shall be established by each participating institution. institutional and student records are subject to normal auditing procedures by the State of Nebraska and the Coordinating Commission for Postsecondary Education pursuant to the requirement that institutions maintain fiscal and fund accounting procedures necessary to assure proper disbursement of funds and compliance with the Act. 005.07. Any award recipient that discontinues attendance before the end of the award year shall remit any award balance allowable to the eligible postsecondary institution pursuant to the institution's withdrawal policy. 005.08. Award funds not awarded within the award year in which the funds were allocated shall be returned to the Commission by the institution at a time specified by the Commission. 005.09. Eligible institution reporting requirements: 005.09A. The eligible postsecondary educational institution shall submit yearly reports as requested by the Commission. The reports shall include, but not be limited to: recipient's name, recipient's social security number, amount disbursed to recipient, each recipient's Student Aid Index (SAI) amount, recipient's enrollment status, whether the recipient is a dependent student or independent student, and the institution's unmet need data as defined by the Commission. 005.09B. The eligible postsecondary educational institution shall comply with the Commission's request for reports to verify award amounts and eligibility of individual student recipients. Any eligible postsecondary educational institution not providing the requested reports as outlined by the Commission within the time period allowed shall be deemed in non-compliance with the Nebraska Opportunity Grant Act and may be ineligible to participate in the Act and receive grant funding for eligible students. 005.10. Aid may not be awarded or disbursed from this Act if that aid, when combined with all other resources, would exceed the student's financial need or is not in compliance with federal award guidelines.