Common use of DISBURSEMENT INFORMATION Clause in Contracts

DISBURSEMENT INFORMATION. The award amount is based on the applicant’s remaining balance on eligible educational loans, not to exceed $4,000.00 per year (depending on available funds, the maximum award may be less than $4,000 in any given year). Proceeds will be remitted directly to the holder of the loan to be repaid in a one-time payment. Recipients must contact the loan holder to arrange for payment to be applied to the loan. Responsibility for making the monthly loan payments and fulfilling the terms of the repayment agreement remains with the recipient.

DISBURSEMENT INFORMATION. The award amount is based on the applicant’s remaining balance on eligible educational loans, not to exceed $4,000.00 10,000.00 per year (depending on available funds, the maximum award may be less than $4,000 10,000.00 in any given year). Proceeds will be remitted directly to the holder of the loan to be repaid in a one-time payment. Recipients must contact the loan holder to arrange for payment to be applied to the loan. Responsibility for making the monthly loan payments and fulfilling the terms of the repayment agreement remains with the recipient.