Page:United States Statutes at Large Volume 91.djvu/1471

 PUBLIC LAW 95-202—NOV. 23, 1977

91 STAT. 1437

assistance benefits under this chapter or chapter 31, 32, 35, or 38 USC 1501, 36 of this title; and "(8) the State (or local governmental unit with jurisdiction 1601, 1700, 1770. over the geographical area, or both such State and such unit) in State or local which is located the educational institution in which such veteran government was enrolled pays to the Veterans' Administration (for deposit in payment. the Veterans' Administration Education Loan Fund established by section 1799 of this title) on such veteran's behalf an amount 38 USC 1799. not more than the amount of accelerated payment which the Administrator is authorized to make on behalf of such veteran under this section, pursuant to a program established, within five years after the date of enactment of this section, by such State (or unit or both) to match the maximum or a lesser amount of the accelerated payment which the Administrator is authorized to make to any eligible veteran under this section, except that such State (or unit) may limit such program to veterans who are bona fide residents of such State (or unit). "(c) Accelerated payments made under this section by the Admin- Loan principal istrator and matching amounts paid to the Administrator by a State collection. or local governmental unit, as described in subsection (b)(8) of this Deposits, VA section, shall constitute a collection of principal on loans made under Educational Loan Fund. subchapter III of chapter 36 of this title and shall be deposited in the 38 USC 1798. Veterans' Administration Education Loan Fund established by section 1799 of this title. The Administrator shall promptly notify each Notice. veteran on whose behalf such a principal collection and deposit has been made of the amount by which such collection and deposit reduces the principal repayment obligation of such veteran. "(d) In no event may the amount of accelerated payment made by Accelerated the Administrator in connection with any school term exceed (1) an payments, amount equal to the educational assistance allowance to which such limitation. veteran was otherwise entitled under section 1682 of this title for such Ante, p. 1434. school term, (2) an amount equal to 33l^ per centum of the amount by which the expenses of tuition and fees are in excess of $700 for such school term, (3) an amount equal to 331/^ per centum of the amount by which the amount of the outstanding obligation of such veteran under any loan made pursuant to section 1798 of this title Post, p. 1438. is in excess of $700, or (4) the amount which the State (or local governmental unit or both) concerned pays to the Administrator to match the accelerated payment to be made by the Administrator on behalf of such veteran, whichever is the least amount. "School term. "(e) As used in this section, the term 'school term ' means— "(1) in the case of an institution of higher learning operating on a quarter system, three such consecutive quarters; "(2) in the case of an institution of higher learning operating on a semester system, two such consecutive semesters; or "(3) in the case of an educational institution not an institution of higher learning, or, in the case of an institution of higher learning not operating on a quarter or semester system, any time division, approved by the Administrator, of a program of education within which segments of the program are completed.", (b) Chapter 35 of title 38, United States Code, is amended by inserting after section 1737 the following new section: "§1738. Accelerated payment of educational assistance allow- 38 USC 1738. ances "An eligible person shall be entitled to an accelerated payment of educational assistance allowances pursuant to the provisions of section Ante, p. 1436. 1682A of this title.".

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