Page:United States Statutes at Large Volume 122.djvu/3436

 12 2 STA T .34 13 PUBLIC LA W 11 0– 31 5— AU G .14 , 200 8‘ ‘ PARTM—LOW T UI TIO N‘ ‘ SEC.830 . IN CEN T I V ES A N DR E W ARDS FO R L OWT U ITION. ‘ ‘ (a)REWARDSFO R L OW TUIT IO N.— ‘‘( 1 ) G RANTS.— Fromfunds mad e a v a il a b le under subse ct ion (e) , t h e S ecretar y shall a w ard g rants to institutions of higher education that, for academic year 20 0 9– 2010 or any succeeding academic year— ‘‘( A ) have an annual tuition and fee increase, e xp ressed as a percentage change, for the most recent academic year for which satisfactory data is available, that is in the lowest 20 percent of such increases for each category described in subsection (b) ‘‘( B ) are public institutions of higher education that have tuition and fees that are in the lowest q uartile of for institutions in each category described in subsection (b)(1), (b)( 4 ), or (b)( 7 ); or ‘‘( C ) are public institutions of higher education that have a tuition and fee increase of less than $6 00fora first - time, full-time undergraduate student. ‘‘(2) U SE OF FUNDS.—Funds awarded to an institution of higher education under paragraph (1) shall be distributed by the institution in the form of need-based grant aid to students who are eligible for Federal P ell Grants, except that no student shall receive an amount under this section that would cause the amount of total financial aid received by such student to exceed the cost of attendance of the institution. ‘‘(b) CATE G ORIES OF I NSTITUTIONS.—The categories of institu- tions described in subsection (a) shall be the following

‘‘(1) four-year public institutions of higher education; ‘‘(2) four-year private, nonprofit institutions of higher edu- cation; ‘‘( 3 ) four-year private, for-profit institutions of higher edu- cation; ‘‘(4) two-year public institutions of higher education; ‘‘( 5 ) two-year private, nonprofit institutions of higher edu- cation; ‘‘(6) two-year private, for-profit institutions of higher edu- cation; ‘‘(7) less than two-year public institutions of higher edu- cation; ‘‘( 8 ) less than two-year private, nonprofit institutions of higher education; and ‘‘(9) less than two-year private, for-profit institutions of higher education. ‘‘(c) REWARDS FOR GUARANTEED TUITION.— ‘‘(1) BONUS.—For each institution of higher education that the Secretary determines complies with the requirements of paragraph (2) or (3) of this subsection, the Secretary shall provide to such institution a bonus amount. Such institution shall award the bonus amount in the form of need-based aid first to students who are eligible for Federal Pell Grants who were in attendance at the institution during the award year that such institution satisfied the eligibility criteria for maintaining low tuition and fees, then to students who are eligible for Federal Pell Grants who were not in attendance at the institution during such award year. Disadv a nt a ge d p e r s o ns .20USC1 1 6 1 m.

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