Page:United States Statutes at Large Volume 86.djvu/291

 86 STAT.]

PUBLIC LAW 92-318-JUNE 23, 1972

basic grant of less than $200 upon a determination that the amount of the basic grant for that student is less than $200 because of the requirement of division (i) and that, due to exceptional circumstances, this reduced grant should be made in order to enable the student to benefit from postsecondary education. "(iv) For the purpose of this subparagraph and subsection (b) the term 'actual cost of attendance' means, subject to regulations of the Commissioner, the actual per-student charges for tuition, fees, room and board (or expenses related to reasonable commuting), books, and an allowance for such other expenses as the Commissioner determines by regulation to be reasonably related to attendance at the institution at which the student is in attendance. "(3)(A)(i) Not later than February 1 of each year the Commissioner shall publish in the Federal Register a schedule of expected family contributions for the succeeding academic year for various levels of family income, which, except as is otherwise provided in division (ii), together with any amendments thereto, shall become effective July 1 of that year. During the thirty-day period following such publication the Commissioner shall provide interested parties with an opportunity to present their views and make recommendations with respect to such schedule. "(ii) The schedule of expected family contributions required by division (i) for each academic year shall be submitted to the President of the Senate and the Speaker of the House of Representatives not later than February 1 of that year. If either the Senate or the House of Representatives adopts, prior to May 1 of such year, a resolution of disapproval of such schedule, the Commissioner shall publish a new schedule of expected family contributions in the Federal Register not later than fifteen days after the adoption of such resolution of disapproval. Such new schedule shall take into consideration such recommendations as may be made in connection with such resolution and shall become effective, together with any amendments thereto, on July 1 of that year. " (B)(i) For the purposes of this paragraph and subsection (b), the term 'family contribution' with respect to any student means the amount which the family of that student may be reasonably expected to contribute toward his postsecondary education for the academic year for which the determination under subparagraph (A) of paragraph (2) is made, as determined in accordance with regulations. I n promulgating such r e f l a t i o n s, the Commissioner shall follow the basic criteria set forth m division (ii) of this subparagraph. "(ii) The basic criteria to be followed in promulgating regulations with respect to expected family contribution are as follows: " (I) The amount of the effective income of the student or the effective family income of the student's family. " ( II) The number of dependents of the family of the student, " ( III) The number of dependents of the student's family who are in attendance in a program of postsecondary education and for whom the family may be reasonably expected to contribute for their postsecondary education. " (IV) The amount of the assets of the student and those of the student's family. " (V) Any unusual expenses of the student or his family, such as unusual medical expenses, and those which may arise irom a catastrophe. "(iii) For the purposes of clause (I) of division (ii), the term 'effective family income' with respect to a student means the annual adjusted family income, as determined in accordance with regulations prescribed by the Commissioner, received by the parents or guardian

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"Actual cost of attendance."

Schedule, publication In Federal Register.

Submittal to Congress. Publication in Federal Register.

"Family contribution."

Regulations, criteria.

"Effective family i n c o m e. "

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