Formula	5A	Summary
Correspondence	programs	non-term	correspondence	component.	For	residential	portion,	use	Formula	4	to	calculate
payment	periods	and	amounts.	The	schedule	for	the	submission	of	lessons	must	reflect	a	workload	of	at	least	12	hours	of
preparation	per	week	of	instructional	time.
Step	5:	Calculate	Payment	for	a	Payment	Period
Annual	award	multiplied	by	the	lesser	of:
The	number	of	credit	or	clock	hours	in	the	payment	period	÷	The	number	of	credit	or	clock	hours	in	the	program9s
academic	year
OR
The	number	of	weeks	of	instructional	time	in	the	payment	period	÷	The	number	of	weeks	of	instructional	time	in
the	program9s	academic	year
Note:	A	single	disbursement	can9t	exceed	50%	of	the	annual	award.
Step	1:	Determine	Enrollment	Intensity
Enrollment	intensity	is	never	more	than	50%.
Step	2:	Calculate	Pell	COA
Full-time,	full	academic	year	costs	(for	applicable	components).
Cost	for	program	or	enrollment	period	not	equal	to	academic	year	prorated	according	to	the	following	formula	for
tuition	and	fees:
Costs	×	(Credit	hours	in	program9s	definition	of	academic	year	÷	Credit	hours	to	which	costs	apply)
Step	3:	Determine	Annual	Award
Annual	award	is	the	Scheduled	Award	multiplied	by	enrollment	intensity,	capped	at	50%.
Step	4:	Determine	Payment	Periods
Length	of	payment	period	measured	in	credit	hours.
The	first	payment	period	is	the	period	of	time	in	which	the	student	completes	the	lesser	of	the	first	half	of	the
academic	year	or	the	first	half	of	the	program.	(First	payment	can	be	made	only	after	the	student	has	completed
25%	of	the	lessons	or	otherwise	completed	25%	of	the	work	scheduled,	whichever	comes	last.)
The	second	payment	period	is	the	period	of	time	in	which	the	student	completes	the	lesser	of	the	second	half	of
the	academic	year	or	the	second	half	of	the	program.	(Second	payment	may	be	made	only	after	the	student	has
submitted	75%	of	the	lessons	or	otherwise	completed	75%	of	the	work	scheduled,	whichever	comes	last.)
Step	5:	Calculate	Payment	for	a	Payment	Period
Annual	award	is	multiplied	by	the	lesser	of:
Number	of	credit	hours	in	the	payment	period	÷	Number	of	credit	hours	in	the	program9s	academic	year
OR
Weeks	of	instructional	time	in	the	payment	period	÷	Weeks	of	instructional	time	in	the	program9s	academic	year
Note:	A	single	disbursement	can9t	exceed	50%	of	the	annual	award.
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