34 CFR §676.16

1. (a)
   1. (1)Except as provided in paragraphs (b) and (e) of this section, an institution shall pay in each payment period a portion of an FSEOG awarded for a full academic year.
   2. (2)The institution shall determine the amount paid each payment period by the following fraction:
   3. (3)An institution may pay the student, within each payment period, at such times and in such amounts as it determines best meets the student's needs.
2. (b)If a student incurs uneven cost or estimated financial assistance amounts during an academic year and needs additional funds in a particular payment period, the institution may pay FSEOG funds to the student for those uneven costs.
3. (c)An institution shall disburse funds to a student or the student's account in accordance with the provisions in § 668.164.
4. (d)
   1. (1)The institution shall return to the FSEOG account any funds paid to a student who, before the first day of classes—
      1. (i)Officially or unofficially withdraws; or
      2. (ii)Is expelled.
   2. (2)A student who does not begin class attendance is deemed to have withdrawn.
5. (e)A correspondence student shall submit his or her first completed lesson before receiving an FSEOG payment.