Page:United States Statutes at Large Volume 106 Part 1.djvu/787

 PUBLIC LAW 102-325—JULY 23, 1992 106 STAT. 755 or authorized loan program designed to assist institutions of higher education to construct academic or dormitory facilities, whenever the Secretary determines that— "(1) the institution of higher education is current in its pay- ments to the Department or has entered into a moratorium agreement with the Secretary with respect to such payments; and "(2) the outstanding indebtedness equals at least one-quarter of the annual budget for the most recent fiscal year of the institution of higher education seeking forgiveness of its housing loan indebtedness, exclusive of funds provided under titles III and rv of this Act, and in the judgment of the Secretary the survival of the institution of higher education is threatened. "(b) DEFINITION.— For the purpose of this section the term 'institution of higher education' mcludes a postsecondary educational institution. "(c) APPLICATION. —Each institution of higher education req^uesting forgiveness of any loan under this section shall submit an application to the Secretary at such time, in such manner and containing or accompanied by such information, as the Secretary may reasonably require.". TITLE VIII—COOPERATIVE EDUCATION SEC. 801. COOPERATIVE EDUCATION. Title VIII of the Act (20 U.S.C. 1133 et seq.) is amended to read as follows: ^TITLE VIII—COOPERATIVE EDUCATION "SEC. 801. STATEMENT OF PURPOSE; DEFINmON. 20 USC 1133. "(a) PURPOSE. —It is the puipose of this title to award grants to institutions of higher education or combinations of such institutions to encourage such institutions to develop and make available to as many of their students as possible work experience that will aid such students in future careers and will enable such students to support themselves financially while in school. "(b) DEFINITION.—For the purpose of this title the term 'cooperative education' means the provision of alternating or parallel periods of academic study and public or private employment in order to , give students work experiences related to their academic or occupational objectives and an opportunity to eeim the funds necessary for continuing and completing their education. «SEC. 802. AUTHORIZATION OF APPROPRIATIONS; RESERVATIONS. 20 USC 1133a. "(a) APPROPRIATIONS AUTHORIZED. —T here are authorized to be appropriated to carry out this title $30,000,000 for fiscal year 1993 and such sums as may be necessary for each of the 4 succeeding fiscal years. "(b) RESERVATIONS. —O f the amounts appropriated in each fiscal year— "(1) not less than 50 percent shall be available for carrying out grants to institutions of higher education and combinations of such institutions described in section 803(a)(l)(A) for cooperative education under section 803;

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