Page:United States Statutes at Large Volume 100 Part 2.djvu/207

 PUBLIC LAW 99-498—OCT. 17, 1986

100 STAT. 1309

"(b) SECRETARY REQUIRED TO CARRY OUT PURPOSES.—The Secretary shall, in accordance with subparts 1 through 8, carry out programs to achieve the purposes of this part. "SUBPART 1—BASIC EDUCATIONAL OPPORTUNITY GRANTS BASIC E D U C A T I O N A L OPPORTUNITY GRANTS: AMOUNT AND DETERMINATIONS; APPLICATIONS

411. (a) PROGRAM AUTHORITY AND METHOD OF DISTRIBUTION.—(1) The Secretary shall, during the period beginning July 1, 1972, and ending September 30, 1992, pay to each eligible institution such sums as may be necessary to pay to each eligible student (defined in accordance with section 484) for each academic year during which that student is in attendance at an institution of higher education, as an undergraduate, a basic grant in the amount for which that student is eligible, as determined pursuant to paragraph (2). Not less than 85 percent of such sums shall be advanced to eligible institutions prior to the start of each payment period and shall be based upon an amount requested by the institution as needed to pay eligible students. "(2) Nothing in this section shall be interpreted to prohibit the Secretary from paying directly to students, in advance of the beginning of the academic term, an amount for which they are eligible, in cases where the eligible institution elects not to participate in the disbursement system required by paragraph (1). "(3) Basic grants made under this subpart shall be known as 'Pell Grants'. "(b) PURPOSE AND AMOUNT OF GRANTS.—(1) The purpose of this subpart is to provide a basic grant that (A) as determined under paragraph (2), will meet 60 percent of a student's cost of attendance (as defined in section 41 IF); and (B) in combination with reasonable parental or independent student contribution and supplemented by the programs authorized under subparts 2 and 3 of this part, will meet 75 percent of a student's cost of attendance (as defined in section 472), unless the institution determines that a greater amount of assistance would better serve the purposes of section 401. "(2)(A) The amount of the basic grant for a student eligible under this part shall be— "(i) $2,300 for academic year 1987-1988, "(ii) $2,500 for academic year 1988-1989, "(iii) $2,700 for academic year 1989-1990, "(iv) $2,900 for academic year 1990-1991, and "(v) $3,100 for academic year 1991-1992, less an amount equal to the amount determined to be the expected family contribution with respect to that student for that year. "(B) In any case where a student attends an institution of higher education on less than a full-time basis during any academic year, the amount of the basic grant to which that student is entitled shall be reduced in proportion to the degree to which that student is not so attending on a full-time basis, in accordance with a schedule of reductions established by the Secretary for the purposes of this division. Such schedule of reductions shall be established by regulation and published in the Federal Register in accordance with section 482 of this Act. "(3) The amount of a basic grant to which a student is entitled under this subpart for any academic year shall not exceed 60 "SEC.

20 USC i070a.

Regulations. Federal Register, publication.

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