Page:United States Statutes at Large Volume 122.djvu/3250

 12 2 STA T .3 22 7PUBLIC LA W 11 0– 31 5— AU G .1 4, 200 8‘ ‘ (1)CHANGEOF H I GH - NEE D DE S IGNA T ION .—Ifarecip ie nto f an initia lg rant u n d ert h i s su b part has ac q uired an acade m ic degree , ore x pertise, in a field that w as, at the time of the recipient ’ s application for that grant, designated as high need in accordance with subsection (b)(1)(C)( v ii), but is no longer so designated, the grant recipient ma y fulfill the service obliga- tion described in subsection (b)(1) by teaching in that field. ‘‘( 2 ) EX TEN U ATING C I R CU M STANCES.— T he S ecretary shall establish, by regulation, categories of extenuating cir- cumstances under which a recipient of a grant under this subpart who is unable to fulfill all or part of the recipient’s service obligation may be excused from fulfilling that portion of the service obligation.’’ and (2) by adding at the end the following new section

‘ SEC.420P .P ROG R AM REPOR T . ‘‘ N ot later than two years after the date of enactment of the H igher Education O pportunity A ct and every two years thereafter, the Secretary shall prepare and submit to the authori z ing commit- tees a report on TEACH grants with respect to the schools and students served by recipients of such grants. Such report shall ta k e into consideration information related to— ‘‘(1) the number of TEACH grant recipients; ‘‘(2) the degrees obtained by such recipients; ‘‘( 3 ) the location, including the school, local educational agency, and State, where the recipients completed the service agreed to under section 4 2 0 N(b) and the sub j ect taught; ‘‘(4) the duration of such service; and ‘‘( 5 ) any other data necessary to conduct such evaluation.’’. (b) EFFECTI V E D ATE.—The amendments made by subsection (a)(1) shall take effect on J uly 1, 2010. PARTB—FED ERA L FA MI L Y ED UC ATI ON LOAN PRO G RAM SEC. 42 1 . LI MITATIO N SONAMO U NTS O F LOANS CO V ERE DBY FEDERAL INSURANCE. Section 424(a) (20 U .S.C. 10 7 4(a)) is amended— (1) by striking ‘‘2012’’ and inserting ‘‘2014’’; and (2) by striking ‘‘201 6 ’’ and inserting ‘‘201 8 ’’. SEC. 422. FEDERAL PAYMENTS TO REDUCE STUDENT INTEREST COSTS. (a) DEFINITIONS.— (1) AMENDMENTS.—Subparagraph (C) of section 428(a)(2) (20 U.S.C. 1078(a)(2)) is amended to read as follows: ‘‘(C) F or the purpose of this paragraph— ‘‘(i) a student’s cost of attendance shall be determined under section 472; ‘‘(ii) a student’s estimated financial assistance means, for the period for which the loan is sought— ‘‘(I) the amount of assistance such student will receive under subpart 1 of part A (as determined in accordance with section 484(b)), subpart 3 of part A, and parts C and E; plus ‘‘(II) other scholarship, grant, or loan assistance, but excluding— 20USC1 0 7 0 g– 2 note. 20 USC 1070g– 4 . R eg ula t i on s .

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