After	the	student	has	successfully	completed	36	weeks	of	instruction	and	24	semester	hours,	there	are	24	weeks
and	24	hours	remaining	in	the	program.	The	second	disbursements	of	the	second	Pell	Grant	award	and	the	Direct
Loan	for	the	second	academic	year	of	the	program	cannot	be	made	until	the	student	officially	enters	the	4th
scheduled	payment	period,	which	occurs	after	the	student	has	cumulatively	completed	36	semester	hours	and	48
weeks.
Remember	that	the	Pell	Grant	amount	the	student	is	eligible	to	receive	in	each	of	the	four	payment	periods	is
always	based	on	the	scheduled	payment	periods	of	12	semester	hours	and	15	weeks	of	instructional	time.
Although	the	academic	year	for	the	program	is	defined	as	24	semester	hours	and	30	weeks	of	instructional	time,
students	are	expected	to	complete	the	first	24	hours	over	36	weeks	of	instructional	time.	To	ensure	that	the	loan
period	for	the	student9s	first	Direct	Loan	covers	both	measures	of	the	defined	academic	year,	the	school	must
originate	a	loan	for	a	loan	period	covering	36	weeks	of	instructional	time.
The	Direct	Loan	for	the	second	academic	year	of	the	program	will	be	originated	for	a	loan	period	covering	24
weeks	of	instructional	time.	Although	this	is	fewer	weeks	than	the	number	of	weeks	in	the	program9s	defined
academic	year,	the	number	of	semester	hours	remaining	in	the	program	(24)	equals	the	number	of	hours	in	the
academic	year.	Therefore,	proration	of	the	Direct	Loan	annual	loan	limit	is	not	required.
Volume	3,	Chapter	1,	Appendix	A,	Example	3:	Non-Term	Credit-Hour	Program	Payment	Periods	3	More	Hours	Earned
in	the	First	Academic	Year
A	school	offers	a	non-term,	two-year	program	of	48	semester	hours	and	60	weeks	of	instructional	time,	with	the
academic	year	defined	as	24	semester	hours	and	30	weeks	of	instructional	time.	There	are	four	scheduled
payment	periods,	each	of	which	is	equal	to	one-half	of	the	defined	academic	year:	12	semester	hours	and	15
weeks	of	instructional	time.
Students	are	expected	to	complete	the	first	30	semester	hours	over	30	weeks	of	instructional	time	in	the	first
period	of	enrollment.	They	are	then	expected	to	complete	18	semester	hours	in	the	last	30	weeks	of	instructional
time.
Scheduled	Payment	Periods
First	year	of	program Second	year	of	program
12	semester	hours	AND	15
weeks	of	instruction
12	semester	hours	AND	15
weeks	of	instruction
12	semester	hours	AND	15
weeks	of	instruction
12	semester	hours	AND	15
weeks	of	instruction
Progression	through	payment	periods	for	disbursements	(student	cannot	receive	next	disbursement
until	successful	completion	of	BOTH	hours	and	weeks	in	scheduled	payment	periods)
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