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{ISAC Rules, Section 2764.40}
Awards are applicable to two semesters or three quarters of half-time or full-time study within an academic year. Funds shall be remitted by ISAC to institutions on behalf of the student(s). Awards are made in multiple disbursements and payments may be received for summer terms. For full-year awards, semester schools receive two disbursements; quarter schools receive three disbursements.
The scholarship awards up to $5,000 per academic year for individuals who agree to teach in a Teacher Shortage Discipline or agree to teach at a hard-to-staff school or up to $10,000 per academic year for individuals who agree to teach in a Teacher Shortage Discipline at a hard-to-staff school. In all cases, the scholarship cannot exceed the cost of attendance. A recipient may receive up to 4 semesters or 6 quarters of assistance.
Multiple disbursements are not required in cases where the recipient’s eligibility is not determined until the final term of the award year for which the scholarship is being awarded. If the student has applied for or is enrolled in a term(s) which is less than the award year, he or she may receive the full amount.
Upon receipt of the scholarship funds, the school shall verify the student's enrollment status for the term for which the award was intended. If withdrawn from enrollment, the institution is to return the amount of the scholarship payment to ISAC. If enrolled, the institution may credit the scholarship funds to the recipient’s account for expenses due and payable. The balance of the disbursement is to be released to the recipient.
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