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Chapter 1.5. California Scholarshare Advancement Vehicle for Education Program. Scholarship Disbursement.   

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(a) Disbursement. CalSAVE Scholarships shall be disbursed in accordance with this program in the form of Accounts as defined in California Code of Regulations section 30950(b). CalSAVE Scholarships shall be disbursed by the Board or Eligible Partners to identified Students as follows:

(1) CalSAVE Scholarships will be disbursed directly to each identified Student of a Beneficiary Group, or

(2) The Board will contract with an Eligible Partner to disburse Scholarships to identified eligible Students of a Beneficiary Group.

(b) Unused CalSAVE Scholarships. All unused CalSAVE Scholarships not disbursed to eligible Students shall revert to the originating Subaccount for reallocation upon identification of additional eligible Students.

Authority cited:

Education Code 69981

Education Code 69982

Reference:

Education Code 69981

(Added by Register 2010, No. 36.)