(a) In each payment period, an institution may pay a student at such times and in such installments as it determines will best meet the student’s needs.

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(b) The institution may pay funds in one lump sum for all the prior payment periods for which the student was an eligible student within the award year. The student’s enrollment status must be determined according to work already completed.

(Authority: 20 U.S.C. § 1070a)[50 FR 10724, Mar. 15, 1985, as amended at 56 FR 56916, Nov. 6, 1991]