Payment	Periods	for	Clock-Hour	and	Non-Term	Programs
For	all	clock-hour	programs	and	for	credit-hour	programs	that	do	not	have	academic	terms,	payment	periods	are	defined
based	on	a	student9s	successful	completion	of	clock	or	credit	hours	and	weeks	of	instructional	time,	as	described	below.
As	noted	earlier,	these	same	payment	period	requirements	also	apply	when	disbursing	Direct	Loans	to	students	enrolled
in	programs	with	nonstandard	terms	that	are	not	substantially	equal	in	length.
A	student	successfully	completes	clock	or	credit	hours	if	the	school	considers	the	student	to	have	passed	the	coursework
associated	with	those	hours.
Clock-Hour	and	Non-Term	Program	Payment	Periods	for	Programs	One	Academic	Year	or	Less	in	Length
The	first	payment	period	is	the	period	in	which	the	student	successfully	completes	half	of	the	credit	or	clock	hours
and	half	of	the	weeks	of	instructional	time	in	the	program.
The	second	payment	period	is	the	period	in	which	the	student	completes	the	remainder	of	the	program.
Clock-Hour	and	Non-Term	Program	Payment	Periods	for	Programs	More	Than	One	Academic	Year	in	Length
For	the	first	academic	year	of	the	program	and	for	any	subsequent	full	academic	year,	follow	the	payment	period
rules	above	for	a	program	that	is	one	academic	year	or	less	in	length,	substituting	<academic	year=	for	<program.=
Academic	Year	=	24	Semester	Hours	and	30	Weeks	of	Instructional	Time
Pell	Grant:	Payment	periods	are	the	nonstandard	terms	(three	disbursements)
Nonstandard	term	#1:	12	weeks
First	payment	period
Nonstandard	term	#2:	6	weeks
Second	payment	period
Nonstandard	term	#3:	12	weeks
Third	payment	period
Direct	Loan:	Payment	periods	are	determined	by	credit-hours	and	weeks	(two	disbursements)
12	semester	hours	and	15	weeks
First	payment	period
12	semester	hours	and	15	weeks
Second	payment	period
Note:	If	you	are	determining	the	payment	periods	for	a	program	for	which	one	of	the	measures	(either	clock	or
credit	hours	or	weeks	of	instructional	time)	is	less	than	an	academic	year	and	the	other	measurement	is	not	,	the
program	is	considered	less	than	an	academic	year	in	length,	and	you	follow	the	payment	period	rules	below	for	a
program	that	is	one	academic	year	or	less	in	length.
Successfully	Completes
34	CFR	668.4(h)(2)
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