611.49—What are a grantee's responsibilities for implementing the scholarship requirements before awarding a scholarship?
         Before awarding scholarship assistance with funds provided under this part to any student attending a teacher preparation program, a grantee must—
    
    
        
        (a) 
         Ensure that the student understands the terms and conditions that the Secretary has determined must be included in the scholarship agreement;
    
    
        
        (b) 
         Have the student and the institution awarding the scholarship execute a scholarship agreement that contains these terms and conditions; and
    
    
    
        
        (1) 
         The withdrawal of scholarship support for any student who does not remain in good academic standing; and
    
    
        
        (2) 
         Determining when and if re-negotiation of a student's scholarship package over an extended period of time is appropriate.
    
    (Approved by the Office of Management and Budget under control number 1840-0753)