Page:United States Statutes at Large Volume 100 Part 2.djvu/327

 PUBLIC LAW 99-498—OCT. 17, 1986

100 STAT. 1429

periods of enrollment beginning on or after 30 days after the date of enactment of this Act. (c) CHANGES EFFECTIVE WITHOUT REGARD TO REGULATIONS; RE-

PUBLICATION OF REGULATIONS.—The changes made in part B of title IV of the Act by the amendment made by subsection (a) of this section shall be effective in accordance with subsection (b) of this section without regard to whether such changes are reflected in the regulations prescribed by the Secretary of Education for the purpose of such part. (d) NEW BORROWERS.—For the purpose of this section, the term "new borrower" means, with respect to any date, an individual who on that date has no outstanding balance of principal or interest owing on any loan made, insured, or guaranteed under part B of title IV of the Act.

20 USC 1071 note.

20 USC 1071 note.

SEC. 403. WORK STUDY REAUTHORIZED. (a) AMENDMENT.—Part C of title IV of the Act is amended to read as follows: "PART C—WORK-STUDY PROGRAMS P U R P O S E; APPROPRIATIONS AUTHORIZED

"SEC. 441. (a) PURPOSE.—The purpose of this part is to stimulate and promote the part-time employment of students who are enrolled as undergraduate, graduate, or professional students and who are in need of earnings from employment to pursue courses of study at eligible institutions. "(b) AUTHORIZATION OF APPROPRIATIONS.—There are authorized to be appropriated to carry out this part $656,000,000 for flscal year 1987 and such sums as may be necessary for each of the 4 succeeding fiscal years.

42 USC 2751.

"ALLOCATION OF FUNDS "SEC.

442. (a) ALLOCATION BASED ON PREVIOUS ALLOCATION.—(1)

From the amount appropriated pursuant to section 441(b) for each flscal year, the Secretary shall flrst allocate to each eligible institution for each succeeding flscal year, an amount equal to 100 percent of the amount such institution received and used under this part for flscal year 1985. "(2)(A) From the amount so appropriated, the Secretary shall next allocate to each eligible institution that began participation in the program under this part after flscal year 1985 but is not a flrst or second time participant, an amount equal to the greater of— "(i) $5,000; or "(ii) 90 percent of the amount received and used under this part for the flrst year it participated in the program. "(B) From the amount so appropriated, the Secretary shall next allocate to each eligible institution that began participation in the program under this part after fiscal year 1985 and is a first or second time participant, an amount equal to the greatest of— "(i) $5,000; "(ii) an amount equal to (I) 90 percent of the amount received and used under this part in the second preceding fiscal year by eligible institutions offering comparable programs of instruc% tion, divided by (II) the number of students enrolled at such y comparable institutions in such fiscal year, multiplied by (III)

42 USC 2752.

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