Page:United States Statutes at Large Volume 106 Part 1.djvu/535

 PUBLIC LAW 102-325—JULY 23, 1992 106 STAT. 503 "(B) contain assurances that an account shall be established for each child participating in the program assisted under this section and set forth the initial amount to be deposited into each such account by the State; "(C) contain assurances that deposits into such account shall be invested in a responsible manner that provides a reasonable rate of return; "(D) contain assurances that funds in the account shall only be used to pay the cost of attendance (as such term is defined in section 472) at any eligible institution (as such term is defined in section 481); "(E) describe the amount of the Federal contribution requested for starting each child's account, which shall not exceed $50 per child participating in the program; "(F) describe the age at which children in the State may establish such accounts; "(G) indicate whether the program will be open to all children, regardless of family income, or only to disadvantaged children; "(H) describe how additional deposits into each account from the State or other resources will be earned by a child for performance of community service, academic performance, or other activities or achievements; "(I) contain assurances that contributions in an account shall be refundable to the contributor without interest if the child is unable to attend college; "(J) contain assurances that the State shall encourage individuals and organizations to make contributions to a child's account; "(K) contain assurances that the State shall provide incentives to employers to make contributions to a child's account and participate in the program assisted under this section; and "(L) contain assurances that if a child leaves the State in which such child has an account, then such child shall retain the right to make contributions to the account, except that the State shall not be required to make any additional deposits other than interest. "(d) AUTHORIZATION OF APPROPRIATIONS.— There are authorized to be appropriated $10,000,000 for fiscaJ year 1993 and such sums as may be necessary for each of the 4 succeeding fiscal years to carry out this section. "CHAPTER 7—PREELIGIBILITY FORM "SEC. 410B. INFORMATION ON ELIGIBILITY FOR ASSISTANCE. 20 USC "To help ensure access to postsecondary education by providing early notice to students of tiieir potential eligibility for financisd aid, the Secretary, as part of the contracts developed pursuant to section 483, may— "(1) develop and process a common preeligibiKty Federal financial aid form, "(2) distribute and process such form on a year-round basis free of charge to students and parents, and "(3) issue, on the basis of information reported by the student on such form, a preeligibility expected famfly contribution figure and estimate of the amount of Federal (and, if feasible, non-

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