Volume	3,	Chapter	1,	Appendix	B:	Coursework	Completion	Requirements	to	Receive	Disbursements	in	Subscription-Based
The	scheduled	payment	periods	are	12	semester	hours	and	15	weeks	of	instructional	time.	The	second
disbursements	of	the	first	Pell	Grant	award	and	the	Direct	Loan	for	the	first	academic	year	of	the	program	are
made	after	the	student	has	successfully	completed	both	the	hours	and	weeks	components	of	the	first	scheduled
payment	period.	In	this	example,	the	student	has	earned	15	hours	after	completing	the	15-weeks	in	the	first
scheduled	payment	period.	The	student	then	earns	another	15	hours	after	completing	the	15	weeks	in	the	second
scheduled	payment	period.
After	the	student	has	successfully	completed	30	weeks	of	instruction	and	30	semester	hours,	there	are	30	weeks
and	18	hours	remaining	in	the	program.	The	first	disbursements	of	the	second	Pell	Grant	award	and	the	Direct
Loan	for	the	second	academic	year	of	the	program	cannot	be	made	until	the	31st	week	of	instruction
(corresponds	to	when	the	student	officially	enters	the	3rd	scheduled	payment	period).
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	39	semester	hours	and	45	weeks.	Based	on	the	scheduled	payment
periods	a	student	cannot	enter	the	4th	payment	period	until	the	student	has	completed	at	least	45	weeks	and	36
semester	hours	(12	semester	hours	and	15	weeks	within	each	payment	period)
As	in	Example	2,	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.
The	student9s	Direct	Loan	for	the	first	academic	year	of	the	program	will	be	originated	for	a	loan	period	covering
30	weeks	of	instructional	time,	since	a	student	will	complete	the	hours	in	the	defined	academic	year	within	that
period.
*Note:	The	student9s	Direct	Loan	for	the	second	academic	year	of	the	program	will	also	be	originated	for	a	loan
period	covering	30	weeks	of	instructional	time.	However,	because	the	number	of	semester	hours	remaining	in	the
program	(18)	is	less	than	the	number	of	hours	in	the	program9s	defined	academic	year	(24),	the	student	is	in	a
remaining	period	of	study	shorter	than	an	academic	year.	Therefore,	the	Direct	Loan	annual	loan	limit	for	the
second	year	of	the	program	(the	maximum	Direct	Loan	amount	the	student	may	receive	for	the	3rd	and	4th
payment	periods)	must	be	prorated.
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