ScholarShare Investment Board

California Code of Regulations
Title 5: Education
Division 4.5: Scholarshare Investment Board
Chapter 2: Governorís Scholarship Programs

Section 31004 Distribution Of Award

  1. To request distribution of funds, an award recipient shall submit a written request that provides the following information:
    1. the award recipientís name as it appears on the annual account statement;
    2. the award recipientís account number;
    3. the award recipientís Social Security number or taxpayer identification number;
    4. the award recipientís mailing address;
    5. the name and address of the eligible educational institution;
    6. the academic year for which the distribution is intended;
    7. the amount of qualified higher education expenses to be paid out by the distribution;
  2. The Scholarshare Investment Board or its designee may require additional documentation prior to the distribution of funds.
  3. A separate written request must be submitted for each distribution.
  4. Distributions shall be made only to eligible educational institutions.
  5. Award recipients shall provide a certification that the distribution shall be used for qualified higher education expenses, that no other request has been submitted previously for payment of the referenced qualified higher education expenses and that any portion of the distribution that is refunded to the award recipient and not used for qualified higher education expenses shall be returned to the Scholarshare Investment Board’s designee in the tax year in which the refund was received by the award recipient.
  6. Written requests for distributions shall be processed by the Scholarshare Investment Board’s designee within thirty (30) days of receipt of the request or within thirty (30) days of receipt of additional documentation requested by the Scholarshare Investment Board or its designee.