(a) General limitation. While there is no limit on the specific dollar amount, no individual may receive more than the amount equal to the aggregate value of two full-time education awards.

(b) Calculation of aggregate value of awards received. The aggregate value of education awards received is the sum of:

(1) The value of each education award received for successful completion of an approved national service position;

(2) The value of each partial education award received upon release from an approved national service position for compelling personal circumstances; and

(3) The value of any amount received from a transferred education award, except as provided in § 2525.460.

(c) Determination of receipt of award. For purposes of determining the aggregate value of education awards, an award is considered to be received at the time it becomes available for use.