First	Academic	Year	3	full-time	program
Subscription	period	1:	Fall Subscription	period	2:	S pring
Credit	hours	associated	with	term:	12
Cumulative	hours	required	to	receive	disbursement:	0
Credit	hours	associated	with	term:	12
Cumulative	hours	required	to	receive	disbursement:	0
As	in	Example	1,	there	is	no	coursework	completion	requirement	for	the	student	to	receive	a	
Title	IV	disbursement	for	the
first	and	second	subscription	periods	in	the	program.
Second	Academic	Year	3	half-time	program
Subscription	period	3:	Fall Subscription	period	4:	S pring
Credit	hours	associated	with	term:	6
Cumulative	hours	required	to	receive	disbursement:	12
(=	hours	enrolled	in	subscription	period	1)
Credit	hours	associated	with	term:	6
Cumulative	hours	required	to	receive	disbursement:	24	(=
total	hours	enrolled	in	subscription	periods	1	&	2)
The	student	changes	to	the	half-time	version	of	the	program	in	the	second	academic	year.	However,	because	the	course
completion	requirements	to	receive	a	disbursement	for	a	subscription	period	are	cumulative	across	multiple	versions	of
the	same	program	(full-time,	half-time,	etc.),	the	counting	of	the	hours	required	for	disbursement	does	not	start	over
when	a	student	changes	to	a	different	version	of	a	program.
As	in	Example	1,	the	student	must	have	completed	a	cumulative	total	of	12	credit	hours	(the	number	of	hours	enrolled	in
subscription	period	1)	to	receive	a	disbursement	for	subscription	period	3,	and	a	cumulative	total	of	24	hours	(the	total
number	of	hours	enrolled	in	subscription	periods	1	and	2)	to	receive	a	disbursement	for	subscription	period	4.	The
student's	change	to	the	half-time	version	of	the	program	in	the	second	academic	year	does	not	affect	the	cumulative
number	of	hours	required	to	receive	disbursements	for	subscription	periods	3	and	4,	because	that	number	is	based	on	the
number	of	hours	enrolled	in	subscription	periods	1	and	2,	when	the	student	was	enrolled	in	the	full-time	version	of	the
program.
Third	Academic	Year	3	half-time	program
Subscription	period	5:	Fall Subscription	period	6:	S pring
Credit	hours	associated	with	term:	6
Cumulative	hours	required	to	receive	disbursement:	30	(=
total	hours	enrolled	in	subscription	periods	1,	2,	&	3)
Credit	hours	associated	with	term:	6
Cumulative	hours	required	to	receive	disbursement:	36	(=
total	hours	enrolled	in	subscription	periods	1,	2,	3,	&	4)
To	receive	a	disbursement	for	subscription	period	5,	the	student	must	have	completed	30	credit	hours,	the	cumulative
number	of	hours	enrolled	in	subscription	periods	1,	2,	and	3.	(Note	that	as	a	result	of	the	student's	change	to	the	half-time
Changes	Enrollment	Status)
The	scenario	in	this	example	is	the	same	as	in	Example	1,	except	that	the	student	changes	to	the	half-time
version	of	the	program	in	the	second	academic	year.
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