608.42—Under what conditions does the Secretary terminate a grant?
The Secretary terminates any grant under which funds were not expended if an institution loses—
(a)
Its accredited status; or
(b)
Its legal authority in the State in which it is located—
(1)
To be a junior or community college; or
(2)
To provide an educational program for which it awards a bachelor's degree.
Code of Federal Regulations
(Authority:
20 U.S.C. 1063a
)