Page:United States Statutes at Large Volume 95.djvu/477

 PUBLIC LAW 97-35—AUG. 13, 1981

95 STAT. 451

ELIGIBILITY FOR SUBSIDIZED LOANS

SEC. 582. (a) Section 428(a)(2) of the Higher Education Act of 1965 (hereafter in this subtitle referred to as the "Act") is amended to read as follows: "(2)(A) Each student qualifying for a portion of an interest payment under paragraph (1) s h ^ — "(i) have provided to the lender a statement from the eligible institution, at which the student has been accepted for enrollment, or at which the student is in attendance, which— "(I) sets forth such student's estimated cost of attendance; and "(II) sets forth such student's estimated financial assistance; and "(ii) meet the requirements of subparagraph (B). "(B) For the purpose of clause (ii) of subparagraph (A), a student shall qualify for a portion of an interest payment under paragraph (1) if the adjusted gross income of such student's family— "(i) is less than or equal to $30,000; or "(ii) is greater than $30,000, and the eligible institution has provided the lender with a statement evidencing a determination of need for a loan and the amount of such need, subject to the provisions of subparagraph (F). "(C) For the purpose of paragraph (1) and this paragraph— "(i) a student's estimated cost of attendance means, for the period for which the loan is sought, the tuition and fees applicable to such student together with the institution's estimate of other expenses regisonably related to attendance at such institution, including, but not limited to, the cost of room and board, reasonable transportation costs, and costs for books and supplies; "(ii) a student's estimated financial assistance means, for the period for which the loan is sought, the amount of assistance such student will receive under subparts 1 and 2 of part A, and parts C and E of this title, 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 any amount paid the student under chapters 32,34, and 35 of title 38, United States Code, plus other scholarship, grant, or loan assistance; and "(iii) the determination of need and of the amount of a loan by an eligible institution under subparagraph (B)(ii) with respect to a student shall be calculated by subtracting from the estimated cost of attendance at the eligible institution the total of the expected family contribution with respect to such student plus any estimated financial assistance reasonably available to such student. "(D) The Secretary shall submit a separate schedule of expected family contributions to the President of the Senate and the Speaker of the House of Representatives not later than the submission of, and in accordance with the procedures for, the proposed schedule of expected family contributions under section 482, except as provided in subparagraph (E). "(E)(i) The initial separate schedule required by subparagraph (D) shall— "(I) be submitted not later than August 15, 1981; "(II) be effective on October 1, 1981, except as is otherwise provided in division (ii);

20 USC 1078.

20 USC 1070a, 1070b; 42 USC 2751; 20 USC 1087aa. 42 USC 1305. 38 USC 1601 et seq., 1651 et seq., 1700 et seq.

Schedule of expected family contributions. 94 Stat. 1445. 20 USC 1089.

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