Page:United States Statutes at Large Volume 84 Part 1.djvu/1407

 84 STAT. ]

PUBLIC LAW 91-519-NOV. 2, 1970

"(C) 80 per centum, in the case of the one-year period which immediately succeeds the period referred to in clause (B), nor "(D) 75 per centum, in the case of any period after the period referred to in clause (C), of the costs attributable to the payment of compensation to students or trainees for employment in the work-study program with respect to which such grant is made. "(2)(A) In determining (for purposes of paragraph (1)) the amounts attributable to the payment of compensation to students or trainees for employment in any work-study program, there shall be disregarded any Federal funds (other than such funds derived from a grant under this section) used for the payment of such compensation. "(B) In determining (for purposes of paragraph (1)) the total amounts expended for the payment of compensation to students or trainees for employment in any work-study program operated by any agency, institution, or organization receiving a grant under this section, there shall be included the reasonable value of compensation provided by such agency, institution, or organization to such students or trainees in the form of services and supplies (including tuition, board, and books). " (e) For the purpose of carrying out the provisions of this section, there is authorized to be appropriated $2,000,000 for the fiscal year ending June 30, 1971, $4,000,000 for the fiscal year ending June 30, 1972, and $6,000,000 for the fiscal year ending June 30, 1973.

1349

student services and supplies*

Appropriation>

" L O A N S rOR STUDENTS OF THE ALLIED H E A L T H PROFESSIONS

"SEC. 794D. (a)(1) The Secretary is authorized (in accordance with such regulations as he may prescribe) to enter into an agreement for the establishment and operation of a student loan fund in accordance with this section with any public or private nonprofit agency, institution, or organization which has an established program for the training or retraining of personnel in the allied health professions specified by the Secretary. " (2) Each agreement entered into under this subsection shall— "(A) provide for establishment of a student loan fund by such agency, institution, or organization for students or trainees enrolled in such program; "(B) provide for deposit in the fund of (i) the Federal capital contributions paid under this section to the agency, institution, or organization by the Secretary, (ii) an additional amount from other sources equal to not less than one-ninth of such Federal capital contributions, (iii) collections of principal and interest on loans made from the fund, (iv) collections pursuant to subsection (b)(6), and (v) any other earnings of the fund; "(C) provide that the fund shall be used only for loans to students or trainees enrolled in such program of the agency, institution, or organization in accordance with the agreement and for costs of collection of such loans and interest thereon; "(D) provide that loans may be made from such fund to students pursuing a course of study (whether full time or part time) in such program of such agency, institution, or organization and that while the agreement remains in effect no such student who is attending such program of such agency, institution, or organization shall receive a loan from a loan fund established under section 204 of the National Defense Education Act of 1958 or pursuant to part B of the title IV of the Higher Education Act of 1965; and "(E) contain such other provisions as are necessary to protect the financial interests of the United States.

student loan fund*

Fund deposits^

72 Stat. 1584; 82 Stat. 1034. 20 USC 424. 20 USC 1071.

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