Page:United States Statutes at Large Volume 94 Part 2.djvu/124

 94 STAT. 1402

20 USC 1070a.

Limitations.

PUBLIC LAW 96-374—OCT. 3, 1980

"(V) $2,600 for academic year 1985-1986, less an amount equal to the amount determined under section 482 to be the expected family contribution with respect to that student for that year.". (2) Section 411(a)(2)(A)(ii) of this Act is amended by striking out "February 1 of each year" and inserting in lieu thereof "January 1, 1981, October 1, 1981, and on October 1 of each succeeding year". (c)(1) Section 411(a)(2)(B)(i) of the Act is amended to read as follows: "(B)(i) The amount of a basic grant to which a student is entitled under this subpart for any academic year shall not exceed— "(I) 50 per centum of the cost of attendance (as defined under section 482(d)) at the institution at which the student is in attendance for that year, when the maximum grant is less than or equal to $1,900; "(II) 55 per centum of such cost of attendance when the maximum basic grant is more than $1,900 but is less than $2,100; "(III) 60 per centum of such cost of attendance when the maximum basic grant is at least $2,100 but is less than $2,300; "(IV) 65 per centum of such cost of attendance when the maximum basic grant is at least $2,300 but is less than $2,600; and "(V) 70 per centum of such cost of attendance when the maximum basic grant is $2,600.". (2) Section 411(a)(2)(B)(ii) of the Act is amended by striking out "actual" each time it appears. (3) Section 411(a)(2)(B)(iv) of the Act is repealed. (d)(1) Section 411(a)(3) of the Act is repealed. (2) Paragraph (4) of section 411(a) of the Act is redesignated as paragraph (3). (e) Section 411(a)(3) of the Act (as redesignated by subsection (d)(2)) is amended to read as follows: "(3) The period during which a student may receive basic grants shall be the period required for the completion of the first undergraduate baccalaureate course of study being pursued by that student at the institution at which the student is in attendance. Nothing in this section shall exclude from eligibility courses of study which are noncredit or remedial in nature which are determined by the institution as necessary to help the student be prepared for the pursuit of a first undergraduate baccalaureate degree.". (f) Section 41103)(3)(B)(i) of the Act is amended to read as follows: "(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, the amount paid with respect to each such entitlement, as calculated prior to the cost of attendance limitation provided in section 411(a)(2)(B)(i) under this subpart, shall be— "(I) the full amount in the case of any student's eligibility index which is less than 601; "(II) 90 per centum of the amount when the student's eligibility index is 601 but less than 801; "(III) 80 per centum of the amount when the student's eligibility index is 801 but less than 1001; "(IV) 70 per centum when the student's eligibility index is 1001 but less than 1201; "(V) 60 per centum when the student's eligibility index is 1201 but less than 1601; and "(VI) 50 per centum when the student's eligibility index is 1601 or greater.

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