{"data":{"id":"us/34-cfr-648.65","jurisdiction":"us","citation":"34 CFR 648.65","heading":"How does the institution of higher education disburse and return funds?","body":"(a) An institution that receives a grant shall disburse a stipend to a fellow in accordance with its regular payment schedule, but shall not make less than one payment per academic term.\n(b) If a fellow withdraws from an institution before completion of an academic term, the institution may award the fellowship to another individual who satisfies the requirements in § 648.40.\n(c) If a fellowship is vacated or discontinued for any period of time, the institution shall return a prorated portion of the institutional payment and unexpended stipend funds to the Secretary, unless the Secretary authorizes the use of those funds for a subsequent project period. The institution shall return the prorated portion of the institutional payment and unexpended stipend funds at a time and in a manner determined by the Secretary.\n(d) If a fellow withdraws from an institution before the completion of the academic term for which he or she received a stipend installment, the fellow shall return a prorated portion of the stipend installment to the institution at a time and in a manner determined by the Secretary.","path":["Title 34—Education","Subtitle B—Regulations of the Offices of the Department of Education","CHAPTER VI—OFFICE OF POSTSECONDARY EDUCATION, DEPARTMENT OF EDUCATION","PART 648—GRADUATE ASSISTANCE IN AREAS OF NATIONAL NEED","Subpart F—What Are the Administrative Responsibilities of the Institution?"],"source_url":"https://www.ecfr.gov/api/versioner/v1/full/2026-08-25/title-34.xml","current_through":"2026-08-25","vintage":"","retrieved_at":"2026-08-27T02:25:40Z","sha256":"76f95f54eea22ceb56c1a2c5b6f020ff08d3311c4a4882a74aebe26838e4d725","source_id":"us-cfr","stale":true,"prev":"us/34-cfr-648.64","next":"us/34-cfr-648.66"},"notice":"GroundRules: Original legal text. Not legal advice."}