§ 2525.470 Is a Designated Recipient required to accept a transferred education award?

(a) General rule. No. A Designated Recipient is not required to accept a transferred education award and may reject an education award in whole or in part.

(b) Result of rejection in full. If the Designated Recipient rejects a transferred education award in whole, the amount is credited back to the transferring Eligible Individual's account in the National Service Trust, and may be transferred to another individual, or may be used by the transferring Eligible Individual, consistent with the original period of availability set forth in § 2525.40(a).