§ 38–1207.07. Budget account.

The Trustees shall set aside funds in an appropriate budget account or accounts to provide for the grants authorized in this subchapter. In providing funds for a tuition grant pursuant to this subchapter, the Trustees shall first ensure that the University or the student has applied for any federal educational grant funds available to the University or to the student for this purpose, and the Trustees shall use District of Columbia appropriated funds or other University funds only for that part of the tuition grant that exceeds the amount of federal educational grant funds available. In the case of a student who meets all eligibility requirements for direct federal educational grant funds and has made timely application for these grant funds but the funds have not been received by either the University or the student, the University shall credit the student’s account in an amount not less than the federal educational grant funds for which the student is eligible and not more than the student’s tuition and fees. Upon receipt of federal grant funds by the University, the University shall apply the funds received to the student’s account; or, upon receipt of federal grant funds by the student, the student shall immediately repay to the University the amount credited by the University.