Page:United States Statutes at Large Volume 86.djvu/292

 250

49 Stat. 620. 42 USC 1305. 80 Stat. 12; 82 Stat. 1331. 38 USC 1651, 1700. Regulations.

"Noncredlt remedial course of study."

Payments.

Insufficient funds, percentage of entitlement due.

Excess funds.

PUBLIC LAW 92-318-JUNE 23, 1972

[86

STAT.

of that student (or the person or persons having an equivalent relationship to such student) minus Federal income tax paid or payable with respect to such income. "(iv) I n determining the expected family contribution with respect to any student, any amount paid under the Social Security Act to, or on account of, the student which would not be paid if he were not a student, and one-half any amount paid the student under chapters 34 and 35 of title 38, United States Code, shall be considered as effective income for such student. " (C) The Commissioner shall promulgate special regulations for determining the expected family contribution and effective family income of a student who is determined (pursuant to regulations of the Commissioner) to be independent of his parents or guardians (or the person or persons having an equivalent relationship to such student). Such special regulations shall be consistent with the basic criteria set forth in division (ii) of subparagraph (B). " (4)(A) The period during which a student may receive basic grants shall be the period required for the completion of the undergraduate course of study being pursued by that student at the institution at which the student is in attendance, except that such period may not exceed four academic years unless— " (i) the student is pursuing a course of study leading to a first degree in a program of study which is designed by the institution offering it to extend over five academic years; or "(ii) the student is, or will be, unable to complete a course of study within four academic years because of a requirement of the institution of such course of study that the student enroll in a noncredit remedial course of study; in either which case such period may be extended for not more than one additional academic year. " (B) For the purposes of clause (ii) of subparagraph (A), a 'noncredit remedial course of study' is a coiirse of study for which no credit is given toward an academic degree, and which is designed to increase the ability of the student to engage in an undergraduate course of study leading to such a degree. " (b)(1) The Commissioner shall from time to time set dates by which students must file applications for basic grants under this subpart. "(2) Each student desiring a basic grant for any year must file an application therefor containing such information and assurances as the Commissioner may deem necessary to enable him to carry out his functions and responsibilities under this subpart. "(3)(A) Payments under this section shall be made in accordance with regulations promulgated by the Commissioner for such purpose, in such manner as will best accomplish the purposes of this section. " (B)(i) If, during any period of any fiscal year, the funds available for payments under this subpart are insufficient to satisfy fully all entitlements under this subpart, the amount paid with respect to each such entitlement shall be— " (I) in the case of any entitlement which exceeds $1,000,75 per centum thereof; " ( II) in the case of any entitlement which exceeds $800 but does not exceed $1,000,70 per centum thereof; " ( III) in the case of any entitlement which exceeds $600 but does not exceed $800,65 per centum thereof; and " ( IV) in the case of any entitlement which does not exceed $600, 50 per centum thereof, "(ii) If, during any period of any fiscal year, funds available for making payments under this subpart exceed the amount necessary to

�