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Insured student loans, servicing.

Ante, p p. 2 6 1, 263, 264. Limitation.

Nondiscrimination.

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[86

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lenders pursuant to this section, seven of whom shall be representative of educational institutions, and seven of whom shall be representative of the general public. The interim Board shall arrange for an initial offering of common and preferred stocks and take whatever other actions are necessary to proceed with the operations of the Association. "(3) When in the judgment of the President, sufficient common stock of the Association has been purchased by educational institution:^ and banks or other financial institutions, the holders of common stock which are educational institutions shall elect seven members of the Board of Directors and the holders of common stock which are banks or other financial institutions shall elect seven members of the Board of Directors. The President shall appoint the remaining seven director's, who shall be representative of the general public. "(4) At the time the events described in paragraph (3) have occurred, the interim Board shall turn over the affairs of the Association to the regular Board so chosen or appointed. "(5) The directors appointed by the President shall serve at the pleasure of the President and until their successors have been appointed and have qualified. The remaining directors shall each be elected for a term ending on the date of the next annual meeting of the common stockholders of the Association, and shall serve until their successors have been elected and have qualified. Any appointive seat on the Board which becomes vacant shall be filled by appointment of the President. Any elective seat on the Board which becomes vacant after the annual election of the directors shall be filled by the Boar-d, but only for the unexpired portion of the term. "(6) The Board of Directors shall meet at the call of its Chairman, but at least semiannually. The Board shall determine the general policies which shall govern the operations of the Association. The Chairman of the Board shall, with the approval of the Board, select, appoint, and compensate qualified persons to fill the offices as may be provided for in the bylaws, with such executive functions, powers, and duties as may be prescribed by the bylaws or by the Board of Directors, and such persons shall be the executive officers of the Association and shall discharge all such executive functions, powers, and duties. " (d)(1) The Association is authorized, subject to the provisions of this section, pursuant to commitments or otherwise, to make advances on the security of, purchase, service, sell, or otherwise deal in, at prices and on terms and conditions determined by the Association, student loans which are insured by the Commissioner under this part or by a State or nonprofit private institution or organization with which the Commissioner has an agreement under section 428(b). " (2) Any warehousing advance made under paragraph (1) of this subsectiicm shall not exceed 80 per centum of the face amount of an insured loan. The proceeds from any such advance shall be invested in additional insured student loans. "(e) The Association, pursuant to such criteria as the Board of Directors may prescribe, shall make advances on security or purchase student loans pursuant to subsection (d) only after the Association is assured that the lender (A) does not discriminate by pattern or practice against any particular class or category of students by requiring that, as a condition to the receipt of a loan, the student or his family maintain a business relationship with the lender, except that this clause shall not apply in the case of a loan made by a credit union, savings and loan association, mutual savings bank, institution of higher education or any other lender with less than $50,000,000 in deposits, and (B) does not discriminate on the basis of race, sex, color, creed, or national origin.

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" (f)(1) The Association shall have conmioii stock haviii«i' a par value of $100 per share \Yhich may be issued only to lenders under this part, pertaining to guaranteed student loans, who are qualified as insured lenders under this part or who are eligible institutions as defined in section 435(a) (other than an institution outside the United States). "(2) Each share of common stock shall be entitled to one vote with rights of cumulative voting at all elections of directors. Voting shall be by classes as described in subsection (c)(3). "(3) The common stock of the Association shall be transferable only as may be prescribed by regulations of the Secretary of Health. Education, and Welfare, and, as to the Association, only on the books of the Association. The Secretary of Health, Education, and Welfare shall prescribe the maximum number of shares of common stock the Association may issue and have outstanding at any one time. "(4) To the extent that net income is earned and realized, subject to subsection (g)(2), dividends may be declared on common stock by the Board of Directors. Such dividends as may be declared by the Board shall be paid to the holders of outstanding shares of common stock, except that no such dividends shall be payable with respect to any share which has been called for redemption past the effective date of such call. " (g)(1) The Association is authorized, with the approval of the Secretary of Health, Education, and Welfare, to issue nonvoting preferred stock with a par value of $100 per share. Any preferred share issued shall be freely transferable, except that, as to the Association, it shall be transferred only on the books of the Association. "(2) The holders of the preferred shares shall be entitled to such rate of cumulative dividends and such shares shall be subject to such redemption or other conversion provisions, as may be provided for at the time of issuance. No dividends shall be payable on any share of common stock at any time when any dividend is due on any share of preferred stock and has not been paid. "(3) In the event of any liquid'ation, dissolution, or winding up of the Association's business, the holders of the preferred shares shall be paid in full at par value thereof, plus all accrued dividends, before the holders of the common shares receive any payment. " (h)(1) The Association is authorized with the approval of the Secretary of Health, Education, and Welfare and the Secretary of the Treasury to issue and have outstanding obligations having such maturities and bearing such rate or rates of interest as may be determined by the Association. Such obligations may be redeemable at the option of the Association before maturity in such manner as may be stipulated therein. " (2) The Secretary of Health, Education, and Welfare is authorized, prior to July 1, 1982, to guarantee payment when due of principal and interest on obligations issued by the Association in an aggregate amount determined by the Secretary in consultation with the Secretary of the Treasury. "(3) To enable the Secretary of Health, Education, and Welfare to discharge his responsibilities under guarantees issued by him, he is authorized to issue to the Secretary of the Treasury notes or other obligations in such forms and denominations, bearing such maturities, and subject to such terms and conditions, as may be prescribed by the Secretary of Health, Education, and Welfare with the approval of the Secretary of the Treasury. Such notes or other obligations shall bear interest at a rate determined by the Secretary of the Treasury,

267 Common stock issuance.

82 Stat. 1023. 20 USC 1085.

Nonvoting preferred s to c k, issuance.

Outstanding obligations.

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40 Stat. 288. 31 USC 774.

Appropriation.

Association powers.

Annual audit.

PUBLIC LAW 92-318-JUNE 23, 1972

[86

STAT.

taking into consideration the current average market yield on outstanding marketable obligations of the United States of comparable maturities during the months preceding the issuance of the notes or other obligations. The Secretary of the Treasury is authorized and directed to purchase any notes and other obligations issued hereunder and for that purpose he is authorized to use as a public debt transaction the proceeds from the sale of any securities issued under the Second Liberty Bond Act, as amended, and the purposes for which securities may be issued under that Act, as amended, are extended to include any purchase of such notes and obligations. The Secretary of the Treasury may at any time sell any of the notes or other obligations acquired by him under this subsection. All redemptions, purchases, and sales by the Secretary of the Treasury of such notes or other obligations shall be treated as public debt transactions of the United States. There is authorized to be appropriated to the Secretary of Health, Education, and Welfare such sums as may be necessary to pay the principal and interest on the notes or obligations issued by liim to the Secretary of the Treasury. •' (i) The Association shall have power— "(1) to sue and be sued, complain and defend, in its corporate name and through its own counsel; "(2) to adopt, alter, and use the corporate seal, which shall be judicially noticed; "(3) to adopt, amend, and repeal by its Board of Directors, bylaws, rules, and regulations as may be necessary for the conduct of its business; "(4) to conduct its business, carry on its operations, and have officers and exercise the power granted by this section in any State without regard to any qualification or similar statute in any State; " (5) to lease, purchase, or otherwise acquire, own, hold, improve. use, or otherwise deal in and with any property, real, personal, or mixed, or any interest therein, wherever situated; " (6) to accept gifts or donations of services, or of property, real, personal, or mixed, tangible or intangible, in aid of any of the purposes of the Association; "(7) to sell, convey, mortgage, pledge, lease, exchange, and otherwise dispose of its property and assets; " (8) to appoint such officers, attorneys, employees, and agents as may be required, to determine their qualifications, to define their duties, to fix their salaries, require bonds for them and fix the penalty thereof; and "(9) to enter into contracts, to execute instruments, to incur liabilities, and to do all things as are necessary or incidental to the proper management of its affairs and the proper conduct of its business, "(j) The accounts of the Association shall be audited annually. Such audits shall be conducted in accordance with generally accepted auditing standards by independent certified public accountants or by independent licensed public accountants, licensed on or before December 31, 1970, who are certified or licensed by a regulatory authority of a State or other political subdivision of the United States, except that independent public accountants licensed to practice by such regulatory authority after December 31, 1970, and persons who, although not so certified or licensed, meet, in the opinion of the Secretary, standards of education and experience representative of the highest standards prescribed by the licensing authorities of the several States which provide for the continuing licensing of public accountants and which are prescribed by the Secretary in appropriate regulations may perform

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PUBLIC LAW 92-318-JUNE 23, 1972

such audits until December 31, 1975. A report of each such audit shall be furnished to the Secretary of the Treasury. The audit shall be conducted at the place or places where the accounts are normally kept. The representatives of the Secretary shall have access to all books, accounts, financial records, reports, files, and all other papers, things, or property belonging to or in use by the Association and necessary to facilitate the audit, and they shall be afforded full facilities for verifying transactions with the balances or securities held by depositaries, fiscal agents, and custodians. " (k) A report of each such audit for a fiscal year shall be made by rhe Secretary of the Treasury to the President and to the Congress not later than six months following the close of such fiscal year. The report shall set forth the scope of the audit and shall include a statement (showing intercorporate relations) of assets and liabilities, capital and >urplr.s or deficit; a statement of surplus or deficit analysis; a statement of income and expense; a statement of sources and application of funds; and such comments and information as may be deemed necessary to keep the President and the Congress informed of the operations and financial condition of the Association, together with such recommendations with respect thereto as the Secretary may deem advisable, including a report of any impairment of capital or lack of sufficient capital noted in the audit. A copy of each report shall be furnished to the Secretary of Health. Education, and Welfare and to the Association. •* (1) All obligations issued by the Association shall be lawful invest' ments, and may be accepted as security for all fiduciary, trust, and public funds, the investment or deposit of which shall be under authority or control of the United States or of any officer or ofRcers thereof. All stock and obligations issued by the Association pursuant to this section shall be deemed to be exempt securities within the meaning of laws administered by the Securities and Exchange Commission, to the same extent as securities which are direct obligations of. or obligations guaranteed as to principal or interest by, the United States. The Association shall, for the purposes of section 14(b)(2) of the Federal Reserve Act, be deemed to be an agency of the United States. " (m) In order to furnish obligations for delivery by the Association, the Secretary of the Treasury is authorized to prepare such obligations in such form as the Board of Directors may approA^e, such obligations when prepared to be held in the Treasury subject to delivery upon •irder by the Association. The engraved plates, dies, bed j^ieces. and so forth, executed in connection therewith shall remain in the custody of the Secretary of the Treasury. The Association shall reimburse the .Secretary of the Treasury for any expenditures made in the preparation, custody, and delivery of such obligations. " (n) The Association shall, as soon as practicable after the end of each fiscal year, transmit to the President and the Congress a report of its operations and activities during each year.''. (b) If any provision of the amendment made by subsection (a) of this section or the application thereof to any person or circumstance is held invalid, the validity of the remainder of the amendment, and the application of such provisions to other persons or circumstances, shall not be affected. (c)(1) The sixth sentence of the seventh paragraph of section 513f) of the Revised Statutes, as amended (12 U.S.C. 24), is amended by inserting "or obligations or other instruments or securities of the Student Loan Marketing Association," immediately after "or obligations, participation, or other instruments of or issued by the Federal Xational Mortgage Association or the Government National Mortgage Association,''.

Report to Treasury.

Reports to P r e s i d e n t and Congress.

Lawful investments.

80 Stat. 825. 12 USC 355. Preparation and delivery.

Reimbursement.

Report to P r e s i dent and Congress. Separability.

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[86 STAT.

(2) Section 5200 of the Revised Statutes, as amended (12 U.S.C. 84), is amended by adding at the end thereof the following new paragraph: "(14) Obligations of the Student Loan Marketing Association shall not 'be subject to any limitation based upon such capital and surplus.". (3) The first paragraph of section 5(c) of the Home Owners' Loan 82'stat! s/s'leos. M «* 1^^^ (12 U.S.C. 1464(c)), is amended by inserting "or in obli^ t i o n s or other instruments or securities of the Student Loan Marketing Association;'' in the second proviso immediately after "any political subdivision thereof'. (4) Section 8(8)(E) of the Federal Credit Union Act, amended (12 si^staK \'io^^' U.S.C. 1Y57(8)(E)), is amended by inserting before the semicolon at 85 Stat. 545! the end thereof the following: "or in obligations or other insti'uments or securities of the Student Loan Marketing: Association''. E X T E N S I O N OF THE E M E R G E N C Y I N S U R E D S T U D E N T U) A N AC"r OF 1 99

20us^ciV78a Effective date.

SEC. 134. (a) Section 2(a)(7) of the Emergency Insured Student ^^°^" ^^^^ ^^ ^^^^ ^^ amended by striking out "July 1. 1971'' and inserting in lieu thereof "July 1, 1974". (^j^^ 'pj-^g amendment made by subsection (a) shall be effective on and after July 1, 1971. STATEMENT OF PURPOSE OF THE WORK-STUDY PROGRAM

42us^c27'5f' and note.

^^^' 1^^- Section 441(a) of the Higher Education Act of 1965 is amended by striking out "from low-income families"' and inserting in lieu thereof "with great financial need''. EXTENSION

83 Stat. 143.

Effective date.

OF COLLEGE W O R K - S I T ' D Y

SEC. 135A. (a) Section 441(b) of the Higher Education Act of 1965 is amended by striking out the word "and" after "June 30, 1970," and by adding after "June 30, 1971," the following: "$330,000,000 for the fiscal year ending June 30, 1972, $360,000,000 for the fiscal year ending June 30, 1973, $390,000,000 for the fiscal year ending June 30, 1974, and $420,000,000 for the fiscal year ending June 30, 1975,''. (b) The amendment made by subsection (a) shall be effective after' June 30, 1971. ALLOTMENTS FOR WORK-STUDY

8/513^*726^'*' 82 Stat! 1028, 1029.

PR(H;RAM

PROGRAM

SEC. 135B. (a)(1). The first sentence of section 442(a) of the High^^ Education Act of 1965 is amended by striking out "The remainder" and inserting in lieu thereof "Ninety per centum of the remainder". (2) Subsections (c), (d), and (e) of such section are redesignated as subsections (d), (e), and (f), respectively, and such section is amended by inserting after subsection (b) the following new subsection: "(c) Sums remaining after making the allotments provided for in other provisions of this section shall be allotted among the States by the Commissioner in accordance with equitable ciiteria established by him which shall be designed to achieve a distribution of the sums appropriated to carry out this part among the States which will most effectively carry out the purpose of this part, except that where a State's allotment under subsection (b) for a fiscal year is less than its allotment under that subsection for the fiscal year ending June 30, 1972, before he makes any other allotments under this subsection, the Commissioner shall allot sufficient additional sums to such State under

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271

this sentence to make the State's allotment for that year under- subsection (b) equal to its allotment under such subsection for the fiscal year ending June 30, 1972. Sums allotted to a State under this subsection shall be consolidated with, and become a part of, its allotment from the same appropriation under subsection (b),*'. WORK-STUDY

PROGRAM

SELECTION

OF

•

STUDENTS

SEC. 135C. (a)(1) Clause (3)(A) of section 4M(a) of the Higher Education Act of 1965 is amended by inserting immediately after ^^82 Stat. 1028, "such institution"" the following: " (taking into consideration the actual 1029. u s e 2754 42 tost of attendance at such institution)". and note. (2) The amendment made by subsection (a) shall be effective on Effective date. and after July 1, 1971, with respect to appropriations for fiscal years lieginning on and after July 1, 1971. A U T H O R I Z I N G PARTICIPATION OF H A L F - T I M E STUDENTS I N W O R K - S T U D Y PROGRAM

SEC. 1351). Section 444(a)(3)(C) of the Higher Education Act of 1965 is amended (1) by striking out "full time" both times it appeare, and (2) by inserting after "student at the institution" and after '•attendance there" the following: "on at least a half-time basis". CONDITIONS o r

AGREEMENT

SEC. 135E. (a) Section 444(a)(3) of the Higher Education Act of 1965 is amended (1) by striking out "from low-income families"' and inserting in lieu thereof the following: "with the greatest financial need, taking into account grant assistance provided such student from any public or private sources", and (2) by amending clause (B) to read as follows: " (B) shows evidence of academic or creative promise and capability of maintaining good standing in such course of study while employed under the program covered by the agreement, and". (b) Section 444(a) of such Act is amended by striking out clause W O R K - S I T ' D Y FOR COMMUNITY SERVICE L E A R N I N G PROGRAM

SEC. 135F. Part C of title IV of the Higher Education Act of 1965 is amended by adding at the end thereof the following new section: " W O R K - S T U D Y FOR COMMUNITY SERVICE L E A R N I N G

42 USC 2751.

PROGRAM

"SEC. 447. (a) The purpose of this section is to enable students in (eligible institutions who are in need of additional financial support to attend institutions of higher education, with preference given to veterans who served in the Armed Forces in Indochina or Korea after August 5, 1964, to obtain earnings from employment which offers the maximum potential both for effective service to the community and for enhancement of the educational development of such students. " (b) There are authorized to be appropriated $25,000,000 for the fiscal year ending June 30, 1972, and $50,000,000 each succeeding fiscal year ending prior to July 1, 1975, to carry out this section through local project grants, without regard to the provisions of section 442. "(c) The (Commissioner is authorized to enter into agreements with public or private nonprofit agencies under which the Commissioner will make grants to such agencies to pay the compensation of students who are employed by such agencies in jobs providing needed community services and which are of educational value.

Appropriation. ^"'®' P- 270. Non-profit

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102^9^*°*' ^°^^' 42 USC 2754 «"^ji°te^. 271, Ante, p 071

erwcr"^""^*^

service.

PUBLIC LAW 92-318-JUNE 23, 1972

" (d) An agreement entered into under subsection (c) above shall— "(1) provide for the part-time employment of college students in projects designed to improve community services or solve particular problems in the community; "(2) provide assurances that preference will be given to veterans who served in the Armed Forces in Indochina or Korea after August 5, 1964, in recruiting students in eligible institutions for jobs under this section, and that the agency, in cooperation with the institution of higher education which the student attends, will make an effort to relate the projects performed by students to their general academic program and to a comprehensive program for college student services to the community; "(3) conform with the provisions of clauses (1)(A), (1)(B) ^^^ ^^^ ^^) ^^ section 444(a), and provide for the selection of studcuts who meet the requirements of clauses (3)(A), (3)(B) ^^^ (^) (C) of section 444(a); and "(4) include such other provisions as the Commissioner shall deem necessary or appropriate to carry out the purposes of this section, including provisions for oversight by the institution of higher education which the student participating in such a program attends. " (^) ^^^ purposes of this section, the term 'community serviceincludes, but is not limited to, work in such fields as environmental ([uality, health care, education, welfare, public safety, crime prevention and control, transportation, recreation, housing and neighborhood improvement, rural development, conservation, beautification, and other fields of human betterment and community improvement.". COOPERATIVE

82 Stat. 1031. 20 USC 1087a.

20 USC 1087c.

Effective date.

[86 STAT.

EDUCATION

SEC. 136. (a)(1) Section 451(a) of the Higher Education Act of 1965 is amended by striking out "the fiscal year ending June 30, 1971" and inserting in lieu thereof "each of the succeeding fiscal years ending prior to July 1, 1975". (2) Section 451(b) of such Act is amended by striking out "two succeeding fiscal years" and inserting in lieu thereof "succeeding fiscal years ending prior to July 1, 1975". (b)(1) Section 451(1)) of the Higher Education Act of 1965 is amended by inserting after "training" the following: ", demonstration,". ^2) Section 453 of such Act is amended by inserting immediately before "or for research" the following: "for projects demonstrating or exploring the feasibilit}^ or value of innovative methods of cooperative education,". (c) The amendments made by subsection (a) shall be effective after June 30, 1971. DIRECT LOANS TO STUDENTS I N INSTITUTIONS OF H I G H E R EDUCATION

83 Stat. 143. 20 USC 4 2 1.

Effective date.

82 Stat. 1030, ^°2o use 10881089.

SEC. 137. (a)(1) Section 201 of the National Defense Education Act of 1958, is amended by inserting "each" after "$375,000,000", and by inserting after "June 30, 1971," the following: "and for the fiscal year ending June 30, 1972,". (2) The amendments made by paragraph (1) shall be effective after .rune 30, 1971. (b) Title IV of the Higher Education Act of 1965 is amended by striking out part F. Part E and sections 461, 462, 463, 464, and 469 of such title IV, and all references thereto are redesignated as part F

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and sections 491, 492, 493, 494, and 499, respectively. Such title IV is further amended by insertina: after part D the folio wing- new parts: •^ = ^ = -^ ''PART E — D I R E C T LOANS TO STIDEXTS i x IXSTITT'TTOXS OF HIGHER EDUCATION

273

82 Stat. 1031. 20 USC 1087a.

uAPPROPRIATIONS AUTHORIZED "SEC. 461. (a) The Commissioner shall carry out a program of stimulating and assisting in the establishment and maintenance of funds at institutions of higher education for the making of low-interest loans to students in need thereof to pui^ue their courses of study in such institutions. " (b)(1) For the purpose of enabling the Commissioner to make contributions to student loan funds established under this part, there are hereby authorized to be appropriated $375,000,000 for the fiscal year ending June 30, 1972, and $400,000,000 for the fiscal year ending June 30, 1973, and for each of the succeeding fiscal years ending prior to July 1, 1975. "(2) I n addition there are hereby authorized to be appropriated such sums for the fiscal year ending June 30, 1976, and each of the three succeeding fiscal years as may be necessary to enable students who have received loans for academic years ending prior to July i, 1975, to continue or complete courses of study. "(c) Any sums appropriated pursuant to subsection (b) for any fiscal year shall be available for apportionment pursuant to section 462 and for payments of Federal capital contributions therefrom to institutions of higher education which have agreements with the Commissioner under section 463. Such Federal capital contributions and all contributions from such institutions shall be used for the establishment, expansion, and maintenance of student loan funds. uAPPORTIONMEXT OF APPR0PRLA.TI0XS

"SEC. 462. (a)(1) From 90 per centum of the sums appropriated pursuant to section 461(b)(1) for any fiscal year, the Commissioner shall apportion to each State an amount which bears the same ratio to the amount so appropriated as the number of persons enrolled on - ;,i. i a full-time basis in institutions of higher education, as determined by the Commissioner for the most recent year for which satisfactory data are available to him, in Such State, bears to the total number of persons so enrolled in all the States. The remainder of the sums so appropriated shall be apportioned among the States by the Commissioner in accordance with equitable criteria which he shall establish and which shall be designed to achieve a distribution of the sums so appropriated among the States which will most effectively carry out the purpose of this part, except that where any State's apportionment under the first sentence for a fiscal year is less than its allotment under section 202(a) of the National Defense Education Act of 1958 g/stal^'ioa?^' for the fiscal year ending June 30, 1972, before he makes any other 20 USC 422. apportionments under this sentence, the Commissioner shall apportion sufficient additional sums to such State under this sentence to make the State's apportionment for that year under this paragraph equal to its allotment for the fiscal year ending June 30, 1972, under such section 202(a). Sums apportioned to a State under the preceding sentence shall be consolidated with, and become a part of, its apportionment from the same appropriation under the first sentence of this paragraph.

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Application.

Limitation.

PUBLIC LAW 92-318-JUNE 23, 1972

[86 STAT.

"(2) Any sums appropriated pursuant to section 461(b)(2) for any fiscal year shall be apportioned among institutions of higher education in such a. manner as the Commissioner determines will best accomplish the purpose for which they were appropriated. ^ (h)(1) Any institution of higher education desiring to receive payments of Federal capital contributions from the apportionment of the State in which it is located for any fiscal year shall make an agreement under section 463 and shall submit an application therefor to the Commissioner, in accordance with the provisions of this part. The Commissioner shall, from time to time, set dates before which such institutions must file applications under this section. "(2) The Commissioner shall pay to each applicant under this subsection which has an agreement with him under section 463, from the amount apportioned to the State in which it is located, the amount requested in such application. Such payment may be made in such installments as the Commissioner determines will not result in unnecessary accumulations of capital in the student loan fund of the applicant established under its agreement under section 463. ' ' (c)(1)(A) If the total amount of Federal capital contributions requested in the applications from a State for any fiscal year exceeds the amount apportioned to that State, the request from each institution shall be reduced ratably. " (B) I n case additional amounts become available for payments to student loan funds in a State in which requests have been ratably reduced under subparagraph (A), such requests shall be increased on the same basis as they were reduced, except that no request shall be increased above the request submitted under subsection (b)(1). "(2) If the amount of an ap^wrtionment to "a State for any fiscal year exceeds the total amount of Federal capital contributions requested in applications from that State, such excess shall be available for reapportionment from time to time on such date or dates as the Commissioner shall fix. From the aggregate of such excess for any dscal year, the Commissioner shall reapportion to each State in which requests were reduced under subparagraph (A) of paragraph (1) an amount which bears the same ratio to such aggregate as the total amount of such reduction in that State bears to the total amount of such reductions in all the States. " (d) The aggregate of the amounts of Federal capital contributions paid under this section for any fiscal year to proprietary institutions of higher education may not exceed the amount by which the sums appropriated pursuant to section 461(b)(1) for that fiscal year exceed $190,000,000. "AGREEMENTS WITH INSTITUTIONS OF HIGHER EDUCATION

"SEC. 463. (a) An agreement with any institution of higher education for the payment of Federal capital contributions under this part shall— " (1) provide for the establishment and maintenance of a student loan fund for the purposes of this part; "(2) provide for the deposit in such fund of— " (A) the Federal capital contributions, " (B) a capital contribution by such institution in an amount equal to not less than one-ninth of the amount of such Federal contributions, " (C) collections of principal and interest on student loans made from such fund, " (D) charges collected pursuant to regulations under section 464(c)(1)(G), and

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208 of what they and I ought to be, then, like a good Mussulman and fatalist, I should endeavor to be satisfied with things as they are, and say it is the will of God. And, above all, there is this difference between resisting this and a purely brute or natural force, that I can resist this with some effect; but I cannot expect, like Orpheus, to change the nature of the rocks and trees and beasts.

I do not wish to quarrel with any man or nation. I do not wish to split hairs, to make fine distinctions, or set myself up as better than my neighbors. I seek rather, I may say, even an excuse for conforming to the laws of the land. I am but too ready to conform to them. Indeed I have reason to suspect myself on this head; and each year, as the tax-gatherer comes round, I find myself disposed to review the acts and position of the general and state governments, and the spirit of the people, to discover a pretext for conformity. I believe that the State will soon be able to take all my work of this sort out of my hands, and then I shall be no better a patriot than my fellow-countrymen. Seen from a lower point of view, the Constitution, with all its faults, is very good; the law and the courts are very respectable; even this State and this American government are, in many respects, very admirable and rare things, to be thankful for, such as a great many have described them; but seen from a point of view a little higher, they are what I have described them; seen from a higher still, and the highest, who shall say what they are, or that they are worth looking at or thinking of at all?

However, the government does not concern me much, and I shall bestow the fewest possible thoughts on it. It is not many moments that I live under a government, even in this world. If a man is thought-free, fancy-free, imagination-free, that which is not never for a long time appearing to be to him, unwise rulers or reformers cannot fatally interrupt him.

I know that most men think differently from myself; but those whose lives are by profession devoted to the study of these or kindred subjects, content me as little as any. Statesmen and legislators, standing so completely within the

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 86 STAT.]

PUBLIC LAW 9 2 - 3 1 8 - J U N E 23, 1972

" (E) iiiiy othei- earnings of the funds; "(o) provide that such student loan fund shall be used only for— •"(A) loans to students, in accordance with the provisions of this part, " (B) administrative expenses, as provided in subsection ^^)' ... " (C) capital distributions, as provided m section 466, and •'(D) costs of litigation, and other collection costs agreed to by the Commissioner in connection with the collection of a loan from the fund (and interest thereon) or a charge assessed pursuant to regulations under section 461(c)(1)(G); "(4) provide that where a note or written agreement evidencing a loan has been in default for at least 2 years despite due diligence on the part of the institution in making collection thereon, the institution may assign its rights under such note or agreement to the United States, without recompense, and that in that event any sums collected on such a loan shall be deposited in the general fund of the Treasury; and "(5) include such other provisions as may be necessary to protect the financial interest of the United States and promote the purposes of this part as are agreed to by the Commissioner and the institution. "(b) An institution which has entered into an agreement under subsection (a) shall be entitled, for each fiscal year during which it makes student loans from a student loan fund established under such agreement, to a payment in lieu of reimbursement for its expenses in administering its student loan program under this part during such year. Such payment shall be made in accordance with section 498. "TERMS

OF LOAXS

464. (a)(1) Loans from any student loan fund established pursuant to an agreement under section 468 to any student by any institution shall, subject to such conditions, limitations, and requirements as the Commissioner shall prescribe by regulation, be made on such terms and conditions as the institution may determine. "(2) The aggregate of the loans for all years made by institutions of higher education from loan funds established pursuant to agreements under this part may not exceed— " (A) $10,000 in the case of any graduate or professional student (as defined by regulations of the Commissioner, and including any loans from such funds made to such person before he became a graduate or professional student); " (B) $5,000 in the case of a student who has successfully completed two years of a program of education leading to a bachelor's degree, but who has not completed the work necessary for such a degree (determined under regulations of the Commissioner, and including any loans from such funds made to such person before he became such a student); and " (C) $2,500 in the case of any other student. "(3) Regulations of the Commissioner under paragraph (1) shall be designed to prevent the impairment of the capital of student loan funds to the maximum extent practicable and with a view toward the objective of enabling the student to complete his course of study. " (b) A loan from a student loan fund assisted under this part may be made only to a student who— "(1) is in need of the amount of the loan to pursue a course of study at such institution: "SP:C.

/;

275

• Post,

p. 278.

Ante, p. 272.

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[86 STAT.

''('2) is capable, in the opinion of the institution, of maintaininogood standing in such course of study; "(3) has been accepted for enrollment as an undergraduate, graduate, or professional student in such institution, or, in the case of a student already in attendance at such institution, is in good standing; and " (4) is carrying at least one-half the normal academic AA'orkload, as determined by the institution. Ill an}' case.in which a student has been determined to be eligible for a loan under the preceding sentence, and such student thereafter fails to maintain good standing, the eligibility of such student shall, upon notice to the Commissioner, be suspended, and further payments to, or on behalf of. such student shall not be made until such student regains good standing. "'(c)(1) Any agreement between an institution and a student for
 * i loan from a student loan fund assisted under this part—

" (A) shall be evidenced by note or other written instnunent which, except as provided in paragraph (2), provides for repayment of the principal amount of the loan, together with interest thereon, in equal installments (or, if the borrower so requests, in graduated periodic installments determined in accordance with such schedules as may be approved by the Commissioner) payable quarterly, bimonthly, or monthly, at the option of the institution, over a period beginning nine months after the date on which the student ceases to carry, at an institution of higher education or a comparable institution outside the United States approved for this purpose by the Commissioner, at least one-half the normal fulltime academic workload, and ending ten years and nine months after such date; " (B) shall include provision for acceleration of repayment of the whole, or any part, of such loan, at the option of the borrower; " (C) may provide, at the option.of the institution in accordance with regulations of the Commissioner, that during the repayment period of the loan, payments of principal and interest by the borrower with respect to all outstanding loans made to him from student loan funds assisted under this part shall be at a rate equal to not less than $30 per month; " (D) shall provide that the loan shall bear interest, on the unpaid balance of the loan, at the rate of 3 per centum per annum, except that no interest shall accrue (i) prior to the beginning date of repayment determined under clause (A)(i) or (ii) during any l)eriod in which repayment is suspended by reason of paragraph (2); " (E) unless the borrower is a minor and the note or other evidence of obligation executed by him would not, under applicable law, create a binding obligation, shall provide that the loan shall be made without security and without endorsement; " (F) shall provide that no note or evidence of obligation may be assigned by the lender, except upon the transfer of the borrower to another institution participating under this part (or, if not so participating, is eligible to do so and is approved by the Commissioner for such purpose), to such institution; and " (G) may, pursuant to regulations of the Commissioner, provide for an assessment of a charge with respect to the loan for failure of the borrower (i) to pay all or part of an installment when it is due or (ii) to file timely and satisfactory evidence of an entitlement of the borrower to a deferment of repayment benefit or a cancellation benefit provided under this part.

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PUBLIC LAW 92-318-JUNE 23, 1972

" (2)(A) No repayment of principal of, or interest on, any loan from a student loan fund assisted under this part shall be required during any period in which the borrower— " (i) is carrying at least one-half the normal full-time academic workload at an institution of higher education or at a comparable institution outside the United States which is approved for this purpose by the Commissioner; "(ii) is a member of the Armed Forces of the United States; "(iii) is in service as a volunteer under the Peace Corps Act; or "(iv) is in service as a volunteer under title VIII of the Economic Opportunity Act of 1964. The period during which repayment may be deferred by reason of clause (ii), (iii), or (iv) shall not exceed three years. " (B) Any period during which repayment is deferred under subparagraph (A) shall not be included in computing the ten-year maximum period provided for in clause (A) of paragraph (1). "(3) The Commissioner is authorized, when good cause is shown, to extend, in accordance with regulations, the ten-year maximum repayment period provided for in clause (A) of paragraph (1) with respect to individual loans. ••(4) The amount of any charge under clause (G) of paragraph (1) shall not exceed— " (A) in the case of a loan which is repayable in monthly installments, $1 for the first month or part of a month by which such installment or evidence is late and $2 for each such month or part of a month thereafter; and " (B) in the case of a loan which has a bimonthly oi* quaiterly repayment interval, $3 and $6, respectively, for each such interval or part thereof by which such installment or evidence is late. The institution may elect to add the amount of any such charge to the principal amount of the loan as of the fir'st day after the day on which such installment or evidence was due, or to make the amount of the ••harge payable to the institution not later than the due date of the next installment after receipt by the borrower of notice of the assessment of the charge. •'(d) An agreement under this part for payment of Federal capital contributions shall include provisions designed to make loans from the student loan fund established pursuant to such agreement reasonably available (to the extent of the available funds in such fund) to all eligible students in such institutions in need thereof. "(e) I n determining, for purposes of clause (1) of subsection (b) of this section, whether a student who is a veteran (as that term is tletined in section 101(2) of title 38, Ignited States Code) is in need, an institution shall not take into account the income and assets of his parents.

277 Repayment, deferral.

75 22 note. 81 42

Stat. 612. u s e 2501 Stat. 722. u s e 2991.

72 Stat. 1106.

" C A X C E L L A T I O X OF LOANS FOR CERTAIN PUBLIC SERVICE

"SEC. 465. (a)(1) The per centum specified in paragraph (3) of this .subsection of the total amount of any loan made after June 30, 1972. from a student loan fund assisted under this part shall be canceled for each complete year of service after such date by the borrower under circumstances described in paragraph (2). "(2) Loans shall be canceled under paragraph (1) for service— " (A) as a full-time teacher for service in an academic year in a public or other nonprofit private elementary or secondary school which is in the school district of a local educational agency which is eligible in such year for assistance pursuant to title I of the Elementary and Secondary Education Act of 1965, and which for the

20 USC 2 4 l a note.

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[86 STAT.

purposes of this paragraph and for that year lias been determined by the Commissioner (pursuant to regulations and after consultation with the State educational agency of the State in which the school is located) to be a school in which the enrollment of children described in clause (A), (B), o r (C) of section 103(a)(2) of title I si^stat^'ray^^' ^^ '^^^ Elementary and Secondary Education Act of 1965 (using 20 USC 241 c. '^ low-income factor of $3,000) exceeds 30 per centum of the total enrollment of that school and such determination shall not be made with respect to more than 50 per centum of the total number of schools in the State receiving assistance under such title I; " (B) as a full-time staif member in a preschool program carried on under section 222(a)(1) of the Economic Opportunity 8j Stat. 698; \ c t of 1964 which is operated for a period which is comparable 42 USC 2809. to a full school year in the locality: Provided, That the salary of such staff member is not more than the salary of a comparable employee of the local educational agency, or ''(C) as a full-time teacher of handicapped children in rt public or other nonprofit elementary or secondary school system; or " (D) as a member of the Armed Forces of the United States, for service that qualifies for special pay under section 310 of 77 Stat. 216; title 37, L^uited States C^ode, as an area of hostilities. "Handicapped t'or the purposes of this paragraph, the term 'handicapped children' children." meaus children who are mentally retarded, hard of hearing, deaf, speech-impaired, visually handicapped, seriously emotionally disturbed, or other health-impaired children who by reason thereof require special education. Loan per cen"(3)(A) The per ceutum of a loan which shall be canceled under paragraph (1) of this subsection is— •'(i) in the case of service described in clause (A), or (C), of paragraph (2), at the rate of 15 per centum for the first or second year of such service, 20 per centum foi- the third or fourth year of such service, and 30 per centum for the fifth year of such service; "(ii) in the case of service described in clause (B) of paragraph (2) at the rate of 15 per centum for each year of such service; "(iii) ill the case of service described in clause (D) of paragraph (2), not to exceed a total of 50 per centum of such loan at the rate of 12i/^ per centum for each year of qualifying service. '• (B) If a portion of a loan is canceled under this subsection for any year, the entire amount of interest on such loan which accrues for such year shall be canceled. " (C) Nothing in this subsection shall be construed to authorize refunding any repayment of a loan. "Year." "(4) For th© purposes of this subsection^ the term 'year' where applied to service as a teacher means academic year as defined by the Commissioner. " (b) The Commissioner shall pay to each institution for each fiscal year an amount equal to the aggregate of the amounts of loans from its student loan fund which are canceled pursuant to this section for Ante, p. 273. such year. Xone of the funds appropriated pursuant to section 461(b) shall be available for payments pursuant to this subsection, "DISTRIBUTION OF ASSETS FROM STUDENT LOAN FUNDS

"SEC. 466. (a) After June 30, 1980, and not later than December 31, 1980, there shall be a capital distribution of the balance of the student loan fund established under this part by each institution of higher education as follows: "(1) The Commissioner shall first be paid an amount which bears the same ratio to the balance in such fund at the close of

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]

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279

June:M). IDSO. as the total anioiiiit of the Federal capital contributions to such fund by the Commissioner under this part bears to the sum of such Federal contributions and the institution's capital contributions to such fund. "(2) The remainder of such balance shall be paid to the institution. •'(b) After December 81, 1980, each institution with which the (commissioner has made an agreement under this part, shall pay to the (Commissioner the same proportionate share of amounts received by the institution after June 30. 1974, in payment of principal and interest on student loans made from the student loan fund established pursuant to such agreement (which amount shall be determined after deduction of any costs of litigation incurred in collection of the principal or interest on loans from the fund and not already reimbursed from the fund or from such payments of principal or interest), as was determined for the Commissioner under subsection (a). ., ''(c) Upon a finding by the institution or- the Commissioner prior~ to July 1, 1980, that the liquid assets of a student loan fund established pursuant to an agreement under this pari exceed the amount r-equired for loans or otherwise in the foreseeable future, and upon notice to such institution or to the Commissioner, as the case may be, ther-e shall be, subject to such limitations as may be included in r-egulations of the Commissioner or in such agreement, a capital distribution from such fund. Such capital distribution shall be made as follows: " (1) The Commissioner shall first be paid an amount which l>ears the same ratio to the total to be distributed as the Federal capital contributions by the Commissioner to the student loan fund prior to such distribution bear to the sum of such Federal (•apital contributions and the capital contributions to the fund made by the institution. "(2) The remainder of the capital distribution shall be paid to, v >. the institution.", (c) I n the case of a loan made befor-e July 1, 1972, under title II of the National Defense Education Act of 1958 not to exceed 50 per 72 Stat. i583; centum of such loan (1) shall be canceled for- service by the borrower "20 u^c^42i. as a full-time teacher in a public or- other nonprofit elementary or secondary school in a State, in an institution of higher education, .,.,. or in an elementary or- secondary school overseas of the Armed Forces of the United States at the rate of 10 per centum of the total amount of such loan for each complete academic j^ear of such service, except that (A) such rate shall be 15 per centum for- each complete academic year of service as a full-time teacher in a public or other nonprofit elementary or secondary school which is in the school district of a local educational agency which is eligible in such year for assistance pirrsuant to title I of the Elementary and Secondary Education Act of 1965, as amended, and which for purposes of this paragraph and 79 Stat. 27; for that year has been determined by the Commissioner (pursuant to 80 Stat. 1 1 9 8. regulations and after consultation with the State educational agency n o20. u s e 241a te of the State in which the school is located) to be a school in which there is a high concentration of students from low-income families, except that (unless all of the schools so deter-mirred ar-e schools in which the enrollment of children described in clause (A), (B), or (C) of section i03(a)(2) of such title (using a low-income factor of $3,000) exceeds gi^stawsa^^s?. 50 per- centum of the total enrollment of the school) the Commissioner 20 USC 24ic. shall not make such determination with r-espect to more than 25 per centum of the total of the public and other nonpr-ofit elementar-y and secondar-y schools in any one State for any one year-, (B) such rate 82-081 0 - 7 3 - 2 1

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[86 STAT.

shall be 15 per centum for each complete academic year of service as a full-time teacher of handicapped children (including mentally retarded, hard of hearing, deaf, speech impaired, visually handicapped, / seriously emotionally disturbed, or other health impaired children who by reason thereof require special education) in a public or other nonprofit elementary or secondary school system, and (C) for the purposes of any cancellation pursuant to clause (A) or (B), an additional 50 per centum of any such loan may be canceled, and (2) shall be canceled for service by the borrower after June 30, 1970, as a member of the Armed Forces of the United States at the rate of 121/2 per centum of the total amount of such loan for each year of consecutive service, but only if such loan was made after April 13, 1970. (d)(1) Upon enactment of this Act, the program authorized by part E of title IV of the Higher Education Act of 1965 as added by Ante, p. 272. subsection (b) is, and shall be deemed to be, a continuation of the program authorized by title II of the National Defense Education 20 u*sc 42f.^' Act of 1958. I n accordance with regulations of the Commissioner, except as provided in subsection (c), all rights, privileges, duties, functions, and obligations under such title II prior to the enactment of this Act shall be deemed to be vested, as the Commissioner determines to be appropriate, under such part E. Any student loan fund established under an agreement under such title II shall, in accordance with regulations, be deemed to have been established under such part E; and any assets of such student loan fund of any institution shall be deemed to be the assets of a student loan fund established under an agreement of that institution with the Commissioner under such part E. Effective date. (£) Upon enactmcut of this Act, title II of the National Defense 20 USC 426. Education Act of 1958 is amended by striking out section 206. WAIVER OF M A I N T E N A N C E

OF EFFORT REQUIREMENTS

I N CERTAIN

CASES

Ante. p. 27 2.

g^^^ -^gg^ ^^^ Section 494(a) of the Higher Education Act of 1965 is amended by inserting before the period at the end thereof a comma and the following: "except that under special and unusual circum- ,:: • • ' stances, pursuant to regulations, the Commissioner is authorized to ''' ' ' ' '"" waive the application of any provision of such an agreement which is required by this section." Effective date. (b) ^ h e amendment made by subsection (a) shall be deemed to be effective from the date of enactment of the Higher Education Act

79 Stat. 1219. 20 USC 1001 „Qjg

Ante, p. 27 2.

of

1965. FURNISHING

GUIDELINES

S E C 139. Part F of title IV of the Higher Education Act of 1965 -g amended by adding after section 494, as added by this Act, the following new section: , ' "FURNISHING

GUIDELINES

" S E C 495. Copies of all rules, regulations, guidelines, instructions, and application forms published or promulgated pursuant to this title shall be provided to the Committee on Labor and Public Welfare of the Senate and the Committee on Education and Labor of the House of Representatives at least thirty days prior to their effective date.".

r

TRANSFER

Si^ra.

OF F U N D S B E T W E E N

PROGRAMS

SEC. 139A. (a) Part F of title IV of the Higher Education Act of 1965 is further amended by adding after section 495, as added by this Act, the following new section:

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" TRANSFERS B E T W E E N I'RCKiR.VMS

"SEC. 496. U p to 10 per centum of the allotment of an institution of higher education for a fiscal year under section 413D or 442 of this Act, 270"'*' ^^' ^^*' may be transferred to, and used for the purposes of, the institution's allotment under the other section witiiin the discretion of such institution in order to offer an arrangement of types of aid. including institutional and State aid, which best fits the needs of each individual student. The Commissioner shall have no control over such transfer, except as specifically authorized, except for the collection and dissemination of information.". (b) The amendment made by subsection (a) of this section shall Effective date. l)ecome effective with respect to fiscal years ending after June 80, 1972. E L I G I B I L I T Y FOR S T U D E N T ASSISTANCE

SEC. 139B. (a) Part F of title IV of the Higher Education Act of 1965 is further amended by inserting after section 496, the followingnew section: " E L I G I B I L I T Y FOR S T U D E N T

ASSISTANCE

"SEC. 497. (a) If an institution of higher education determines, after affording notice and opportunity for hearing to an individual attending, or employed by, such institution, that such individual has been convicted by any court of record of any crime which was committed after June 30, 1972, and which involved the use of (or assistance to others in the use of) force, disruption, or the seizure of property under control of any institution of higher education to prevent officials or students in such institution from engaging in their duties or pursuing their studies, and that such crime was of a serious nature and contributed to a substantial disruption of the administration of the institution with respect to which such crime Avas committed, then the institution which such individual attends, or is employed by, shall deny for a period of two yeare any further payment to, or for the direct benefit of, such individual under any of the programs authorized under this title. If an institution denies an individual assistance under the authority of the preceding sentence of this subsection, then any institution which such individual subsequently attends shall deny for the remainder of the two-year period any further payment to, or for the direct benefit of, such individual under any program authorized by this title. "(b) If an institution of higher education determines, after affording notice and opportunity for hearing to an individual attending, or employed by, such institution, that such individual has willfully refused to obey a lawful regulation or order of such institution after June 30, 1972, and that such refusal was of a serious nature and contributed to a substantia] disruption of the administration of such institution, then such institution shall deny, for a period of two years, any further payments to, or for the direct benefit of, such individual under any program authorized by this title. "(c)(1) Nothing in this section shall be construed to prohibit any institution of higher education from refusing to award, continue, or extend any financial assistance under this title to any individual because of any misconduct which in its judgment bears adversely on his fitness for such assistance. "(2) Nothing in this section shall be construed as limiting or prejudicing the rights and prerogatives of any institution of higher education to institute and carry out an independent, disciplinary proceeding pursuant to existing authority, practice, and law..

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Repeal. 82 Stat. 1062. 20 USC 1060.

[86

STAT.

"(3) Nothing in this section shall be construed to limit the freedom of any student to verbal expression of individual views or opinions.". (b) Effective July 1, 1972, section 504 of Public Law 90-575 is repealed. AFFIDAVIT OF EDUCATIONAL PURPOSE REQUIRED

Ante,

p. 281.

SEC. 139C. (a) Part F of title IV of the Higher Education Act of 1965 is amended by inserting after section 497 the following new section: " A F F I D A VI TO F EDUCATIONAL PURPOSE REQUIRED

Effective date.

"SEC. 498. (a) Notwithstanding any other provision of law, no grant, loan, or loan guarantee authorized under this title may be made unless the student to whom the grant, loan, or loan guarantee is made has filed with the institution of higher education which he intends to attend, or is attending (or in the case of a loan or loan guarantee with the lender), an affidavit stating that the money attributable to such grant, loan, or loan guarantee will be used solely for expenses related to attendance or continued attendance at such institution. "(b) Nothing in this section shall be construed to invalidate any loan guarantee made under this title.". (b) The amendment made by subsection (a) of this section shall become effective after the sixtieth clay after the date of enactment of this Act. STUDY OF THE F I N A N C I N G OF POSTSECONDARY EDUCATION

National Commission on the Financing of Postsecondary Education, establishment. Termination.

S E C 140. (a)(1) I t is the purpose of this section to authorize a study of the impact of past, present, and anticipated private, local, State, and Federal support for postsecondary education, the appropriate role for the States in support of higher education (including the application of State law upon postsecondary educational opportunities), alternative student assistance programs, and the potential Federal, State, and private participation in such programs. (2) I n order to give the States and the Nation the information needed to assess the dimensions of, and extent of, the financial crisis confronting the Nation's postsecondary institutions such study shall determine the need, the desirability, the form, and the level of additional governmental and private assistance. Such study shall include at least (A) an analysis of the existing programs of aid to institutions of higher education, various alternative proposals presented to the Congress to provide assistance to institutions of higher education, as well as other viable alternatives which, in the judgment of the Commission, merit inclusion in such a study; (B) the Costs, advantages and disadvantages, and the extent to which each proposal would preserve the diversity and independence of such institutions; and (C) the extent to which each would advance the national goal of making postsecondary education accessible to all individuals, including returning veterans, having the desire and ability to continue their education. (b)(1) There is hereby established, as an independent agency within the executive branch, a National Cominission on the Financing of Postsecondary Education (referred to in this section as the "Commission"), Upon the submission of its final report required by subsection (d) the Commission shall cease to exist. (2) The Department of Health, Education, and Welfare shall provide the Commission with necessary administrative services (including those related to budgeting, accounting, financial reporting, personnel

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2{J3

and procurement) for Avhic'li payment shall be made in advance, or by reimbursement, from funds of the Commission and such amounts as may be agreed upon by the Commission and the Secretary of Health, Education, and Welfare. (3) The Commission shall have authority to accept in the name of the United States, grants, gifts, or bequests of money for immediate disbursement in furtherance of the functions of the Commission. Such grants, gifts or bequests, after acceptance by the Commission, shall be paid by the donor or his representative to the Treasurer of the United States whose receipts shall be their acquittance. The Treasurer of the United States shall enter them in a special account to the credit of the Commission for the purposes in each case specified. (c) In conducting such a study, the Commission shall consider— (1) the nature and causes of serious financial distress facing institutions of postsecondary education; and (2) alternative models for the long range solutions to the problems of financing postsecondary education with special attention to the potential Federal, State, local, and private participation in such programs, including, at least— (A) the assessment of previous related private and governmental studies and their recommendations; (B) existing State and local programs of aid to postsecondary institutions; (C) the level of endowment, private sector support and other incomes of postsecondary institutions and the feasibility of Federal and State income tax credits for charitable contributions to postsecondary institutions; (D) the level of Federal support of postsecondary institutions through such programs as research grants, and other general and categorical programs; (E) alternative forms of student assistance, including at least loan programs based on income contingent lending, loan programs which utilize fixed, graduated repayment schedules, loan programs which provide for cancellation or deferment of all or part of repayment in any given year based on a certain level of a borrower's income; and existing student assistance programs including those administered py the Office of Education, the Social Security Administration, the Public Health Service, the National Science Foundation, and the Veterans Administration; and (F) suggested national uniform standards for determin•; * ing the annual per student costs of providing postsecondary education for students in attendance at A-arious types and classes of institutions of higher education. (d) No later than April 30, 1973, the Commission shall make a final jent^and cor're^s^s. report to the President and Congress on the results of the investigation and study authorized by this section, together with such findings and recommendations, including recommendations for legislation, as it deems appropriate, including suggested national uniform standards referred to in subsection (c)(2)(F) and any related recommendations for legislation. No later than 60 days after the final report the Com- Report to Commissioner shall make a report to the Congress commenting on the Com- ^'•^^^• mission's suggested national uniform standards, and incorporating his recommendations with respect to national uniform standards together with any related recommendations for legislation. (e) In order to carry out the provisions of this part, the Commission is authorized to— (1) enter into contracts with institutions of postsecondary edu- ^j^""'"'^''* authorcation and other appropriate individuals, public agencies and private organizations;

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[86 STAT.

(2) appoint and fix the compensation of such personnel as may be necessary; (3) employ experts and consultants in accordance with section 80 Stat. 416. 3109 of title 5, United States Code; (4) utilize, with their consent, the services, personnel, information and facilities of other Federal, State, local, and private agencies with or without reimbursement; and (5) consult with the heads of such Federal agencies as it deems appropriate. (f)(1) The Commission is further authorized to conduct such hearings at such times and places as it deems appropriate for carrying out the purposes of this section. Federal coop(2) The heads of all Federal agencies are, to the extent not proeration. hibited by law, directed to cooperate with the Commission in carrying out this section. Members. (g)(1) The Commission shall be composed of— (A) two members of the Senate who shall be members of the different political parties and who shall be appointed by the President of the Senate; ' (B) two Members of the House of Representatives who shall be members of different political parties and who shall be appointed • by the Speaker of the House of Representatives; and (C) not to exceed thirteen members appointed by the President ' not later than ninety days after the date of enactment of this Act. Such members shall be appointed from— (i) members of State and local educational agencies; (ii) State and local government officials; (iii) education administrators from private and public higher education institutions and community colleges; (iv) teaching faculty; •' (v) financial experts from the private sector; (vi) students; (vii) the Office of Education; and (viii) other appropriate fields. (2) The President shall designate one of the members to serve as Chairman and one to serve as Vice Chairman of the Commission. (3) The majority of the members of the Commission shall constitute a quorum, but a lesser number may conduct hearings. (4) The terms of office of the appointive members of the Commission shall expire after submission of the final report. Appropriation. (h) There are hereby authorized to be appropriated $1,500,000 for the period beginning on the date of enactment of this Act and ending July 1, 1973, for the purpose of carrying out the provisions of this section. P A R T E — E D U C A T I O N PROFESSIONS DEVELorMENT E X T E N S I O N OF AUTHORIZATION OF APPROPRIATIONS 79 Stat. 1254; 81 Stat. 8 2. 20 USC 1091. 20 USC 1101.

20 USC 1091c, 1108, 1118, 111 9a, 111 9b-2. Effective date.

SEC. 141. (a)(1) Title V of the Higher Education Act of 1965 is amended— (A) in section 511(b), by striking out "for the fiscal year ending June 30, 1971" and inserting in lieu thereof "each for the fiscal years ending June 30, 1971, and June 30, 1972"; (B) in sections 504(b), 518(b), 528, 532, and 543, by striking out "July 1, 1971" and inserting in lieu thereof "July 1, 1972" in each instance. (2) The amendments made by paragraph (1) shall be effective after June 30, 1971.

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(b)(1) Section 501 of the Higher Education Act of 1965 is amended !)y inserting " (a) " after "SEC. 501." and by adding at the end thereof the following new subsection: " (b) For the purpose of carrying out the provisions of this title, there are authorized to be appropriated $200,000,000 for the fiscal year ending June 30, 1973, $300,000,000 for the fiscal year ending June 30, 1974, and $450,000,000 for the fiscal year ending June 30, 1975, of which— "(1) not less than $500,000 shall be for the purposes of section 504; "(2) not less than 25 per centum or $37,500,000, whichever i?: greater, shall be for the purposes of subpart 1 of part B; "(3) not less than 5 per centum shall be for the purposes of part r. " (4) not less than 5 per centum shall be for the purposes of part Y).

.-

285

fo S c fo9i.

20 USC 1091c. 20 USC 1101.

20 USC n i l. 20 USC 1119.

"(5) not less than 5 per centum shall be for the purposes of part ^.

20 USC 1119b.

" (6) not less than 10 per centum shall be for the purposes of part F;and 20 USC in9c. " (7) not less than 5 per centum of the amounts available for the purposes of part C or part D shall be used for the training of teachers for service in programs for children with limited English speaking ability.". (2) The amendments made by paragraph (1) shall be effective after, Effective date. .hme30, 1972. (c)(1) Effective on and after July 1, 1972, title V of the Higher Kducation Act of 1965 is amended by striking out the following 20 USC' fo9i provisions: (A) Section 502(f); 20 USC 1091a. (B) Section 604(b); (C) Section 511(b) and " (a) " where it appears after "SEC. 20 USC 1101. oil."* (b] Section 518(b) and " (a) " where it appears after "SEC. 20 USC iios. 518 "• (E) Section 528; 20 USC i n s. (F) Section 532; 20 USC 1119a. (G) Section 543; and 20useiii9b-2 (H) Section 555. 20 USC iii9c-4. (2)(A)(i) The caption head of section 518 of such title V is amended to read as follows: "PROGRAM AUTHORIZED". (ii) Such section 518 is amended by striking out "during the fiscal year ending June 30, 1969, and the succeeding fiscal year,". (B) Effective on and after July 1, 1972, section 519(a) of such Effective date. title V is amended by striking out that part of the first sentence which si Stat. ss. precedes ", the Commissioner" and inserting in lieu thereof the 20 USC 1109. following: "From the amount available for grants under this subpart for any fiscal year". (3) Section 525(b) of such Act is amended by striking out all that ^J J'|^- ji^^j^^o'' follows "federally supported programs" and inserting in lieu thereof 1 period. 1 (4) The Department of Health, Education, and Welfare shall, ^^P°'* '° ^°"under the authority of section 401(c) and of part C of the General ^''^^^• Education Provisions Act, submit to the Congress an estimate of the 20 USC 1221. sums necessary to carry out section 502 of such title V. ro^usc /o^9Ta
 * nid only with respect to appropriations for fiscal years beginning after,

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text:
The New International Encyclopædia/Peutingerian Table

PEUTINGERIAN TABLE (Lat. Tabula Peutingeriana). The name given to a most interesting ancient document, which exhibits the military roads of the Roman Empire and of the world known to the Romans. It is not, properly speaking, a map, no regard being paid to geographic position or the extent of countries. The great lines of road are laid down in a narrow strip, as if nearly parallel, all proceeding from Rome as a centre; and as to rivers, it only appears whether they cross the road from left to right or from right to left of the traveler proceeding from Rome. The Mediterranean and other seas are represented by mere narrow channels. A small house is the mark for a town; important towns and military stations are distinguished by walls and towers. Rome, Constantinople, and Antioch are each represented by a circle, within which is a human figure seated; in the case of Rome the figure is crowned. Until very recently a portion of the only copy of this valuable relic of antiquity known to exist was evidently wanting, as it terminated abruptly on the west at the confines of Spain, and included only the eastern parts of Britain. In the east it traces roads through India to a number of places of trade as far as the mouths of the Ganges. It is on parchment, and, as described in all the publications devoted to it, 21 feet in length, and about one foot wide. The extant document seems to be a thirteenth-century copy of an original made in the third century. It was found in the library of the Benedictine monastery at Tegernsee, in Upper Bavaria, in the fifteenth century, by Konrad Celtes, who bequeathed it to Konrad Peutinger of Augsburg, a zealous antiquary, and one of the earliest writers on the Roman and other antiquities of Germany. Peutinger began to prepare a copy of it for publication, but died before he could accomplish his purpose, which, however, was partially executed by Mark Welser, in his Fragmenta Tabulæ Antiquæ ex Peutingerorum Bibliotheca (Venice, 1591). The ancient document itself remained in the hands of the Peutinger family, and attracted no further notice till it was offered for sale in 1714, and purchased by Prince Eugene, who presented it to the Imperial Library of Vienna, in which it still remains. An exact copy

of it was published at Vienna in 1753, with an introduction and index by F. C. von Scheyb. It was again published as an appendix to Katanesich's Orbis Antiquus (Budapest, 1825); and at the request of the Academy of Munich, a revised edition was published by Konrad Mannert (Leipzig, 1824). Since that time a leaf detached from the sheets forming the map has been found in the Imperial Library at Vienna. See Miller's edition of the same (Ravensburg, 1888), and a colored facsimile by Desjardins (Paris, 1869-71).


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[86 STAT.

DELEGATION OF F U N C T I O N S OF THE DIRECTOR OF THE T E A C H E R CORPS

79 Stat. 1255. 20 USC 1102.

,,

SEC. 142. The third sentence of such section 512 is amended by inserting before the period at the end thereof the following: ", except that (1) the Commissioner may delegate his functions under this subpart only to the Director, and (2) the Director and Deputy Director shall not be given any function authorized by law other than that granted by this subpart".

.,,,

Ante, p. 285.

81 Stat. 87. 20 USC 1110.

R E T R A I N I N G OF TEACHERS A N D EMPLOYMENT OF TUTORS A N D INSTRUCTIONAL ASSISTANTS

SEC. 143. (a)(1) Section 518 of the Higher Education Act of 1965 is amended (1) by striking out "to (1) " and inserting in lieu thereof " (1) to", (2) by striking out "and (2) " and inserting in lieu thereof "(2) to", and (3) and by adding the following before the period: ", (3) to encourage volunteers (including high school and college students) for service as part-time tutors or full-time instructional assistants for educationally disadvantaged children, (4) to compensate such tutors and instructional assistants at such rates as the Commissioner may determine to be consistent with prevailing practices under comparable federally supported work-study programs, and (5) to provide necessary training to teachers to enable them to teach other grades or other subjects in which such agencies have a teacher shortage". (2) Section 520(a)(2) of such Act is amended (A) by striking out "and (C) " and inserting in lieu thereof " (C) programs of such agencies to employ high school and college students as tutors or instructional assistants for educationally disadvantaged children, (D) programs of such agencies to compensate such tutors and instructional assistants at such rates as the Commissioner may determine to be consistent with prevailing practices under comparable federally supported work-study programs, (E) programs of such agencies to provide necessary training to teachers to enable them to teach other grades or other subjects in which such agencies have a teacher shortage, and

(F)". 82 Stat. 1039.

^3^ Section 520(a)(3) of such Act is amended by the retraining of teachers" immediately before the end thereof. Effective date. (b) The amendments made by subsection (a) shall and only wnth respect to appropriations for fiscal after, June 30, 1972.

inserting "or for semicolon at the be effective after, years beginning

PROVISION FOR ADMINISTRATIVE E X P E N S E S FOR OPERATION OF STAl'E P L A N

Supra. Effective date.

SEC. 144. (a) Section 520(a)(2) of the Higher Education Act of 1965 is amended, in clause (F) thereof, by (1) striking out " 3 " and inserting in lieu thereof "5", ana (2) by inserting before the semicolon: "or, $20,000, whichever is greater". (b) The amendments made by subsection (a) shall be effective after, and only with respect to appropriations for fiscal years beginning after, June 30, 1972. E L I M I N A T I O N OF C E I L I N G ON EXPENDITURES FOR T E A C H I N G AIDES

81 Stat. 88; 82 Stat. 103 9. Effective date.

SEC. 145. (a) Section 520(a) of the Higher Education Act of 1965 -^ amended by striking out clause (5) thereof. Clauses (6) through (9) of such section 520(a), and all references thereto, are redesignated as clauses (5) through (8),respectively. ^|^^ rpj^g amendments made by subsection (a) shall be effective after,

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and only with respect to appi'Opiiations for fiscal veais beginningafter, June 30, 1972. T R A I N IX G FOR T E A C H E R S AND AIDEKS I N RRIVATE SCHOOl^S

SEC. 1J:H. (a) Clause (5) of section 520(a) of the Hijrher Education Act of 1965 is amended by inseiting "is teaching, or" after "because he-'. (b) The amendment made by subsection (a) shall be effective after, and only with respect to appropriations for fiscal year's beginning after, June 30, 1972.

Ante, p. 286. Effective date.

F E L L O W S H I P S I N SCHOOL N U R S IX G

SEC. 146. A. Section 521 of the Higher Education Act of 1965 is amended by inserting "school nursing," after "such as library science,".

79 Stat. 1258.

20 USC n i l.

LMPROVINO T R A I N I N G PROGRAMS FOR THE r J) U C A T I 0 N OF TEACHERS AND R E I ^ \ T E D EDUCATIONAL P E R S O N N E L

SEC. 147. (a)(1) Section 531(b) of the Higher Education Act of 1965 is amended by striking out the period at the end thereof and inserting in lieu thereof "; and", and by adding at the end thereof the following new clause: "(11) programs or projects (including cooperative arrangements or consortia between institutions of higher education, junior and community colleges, or between such institutions and State or local educational agencies and nonprofit education associations) for the improvement of undergraduate programs for preparing educational personnel, including design, development and evaluation of exemplary undergraduate training programs, introduction of high quality and more effective curricula and curricular materials, and the provision of increased opportunities for practical teaching experience for pi-ospective teachers in elementary and secondary schools.". (2) Section 531(c) of such Act is amended by striking out the "or" at the end of clause (1) and the period at the end of clause (2), by inserting a semicolon and "or" at the end of clause (2), and by adding the following new clause: "(3) projects or programs to improve undergraduate or other programs for training educational personnel.". (b) The amendments made by subsection (a) shall be effective after, and only with respect to appropriations for fiscal years beginning after, June 30, 1972.

81 Stat. 9 1, 820. 20 USC 1119.

Effective date.

PROGRAMS FOR TEACHERS OF M I G R A N T C H I L D R E N

SEC. 148. (a)(1) Section 531(b) of the Higher Education Act of 1965 is further amended by striking out the period at the end of clause (11) and inserting in lieu thereof a semicolon and the word "and", and by adding at the end thereof the following new clause: "(12) programs and projects designed to meet the need for the training of teacher's for participation in education programs for migratory children of migratory agricultural wor-kers, including teacher exchange programs.". (2) Section 531(c) of such Act is amended by striking out "or" at the end of clause (2), and inserting in lieu ther-eof a semicolon and the word "or", and by adding at the end ther-eof the following new clause (4):

Supra.

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PUBLIC LAW 92-318-JUNE 23, 1972

[86 STAT.

li^

"(4) such activities as may be necessary to carry out the purposes of clause (12) of subsection (b), to the extent that such activities are not inconsistent with the other provisions of this part.". Effective date. (b) The amendments made by subsection (a) shall be effective after June 30, 1972. ,.Hh •,v « -^'^

PART F—INSTRUCTIONAL EQUIPMENT

EXTENSION OF AUTHORIZATION OF APPROPRIATIONS

SEC. 151. (a) Subsections (b) and (c) of section 601 of the Higher 82'stf/*ro4i^^* Education Act of 1965 are each amended by striking out "two succeed2oVsc 1121. ing fiscal years" and inserting in lieu thereof "succeeding fiscal years ending prior to July 1, 1975". Effective date. (b) The amendments made by subsection (a) of this section shall be effective after June 30, 1971. PART G—ACADEMIC FACILITIES TRANSFER OF THE PROVISIONS OF THE HIGHER EDUCATION FACILITIES ACT OF

Infro^'Jli^^^20 USC

716.

1963

S E C 161. (a) Title VII of the Higher Education Act of 1965 is i i i

1

PIT

amended to read as lollows: "TITLE VII—COXSTRUCTIOX OF ACADEMIC F A C I L I T I E S " P A R T A—GRANTS FOR THE CONSTRUCTION OF UNDERGRADUATE ACADEMIC FACILITIES "AUTHORIZATION OF APPROPRIATIONS

r,

.

>ia

"SEC. 701. (a) The Commissioner shall carry out a program of grants to institutions of higher education for the construction of academic facilities in accordance with this part. " (b) For the purpose of making grants under this part, there are hereby authorized to be appropriated $50,000,000, for the fiscal year ending June 30, 1972, $200,000,000 for the fiscal year ending June 30, 1973, and $300,000,000 for each of the fiscal years ending June 30, 1974, and June 30, 1975. "(c) Of the sums appropriated pursuant to section 701(b), 24 per centum shall be reserved by the Commissioner and allotted among the States under section 702. The remainder of such sums shall be available for allotment among the States under section 703. "PUBLIC COMMUNITY COLLEGES AND PUBLIC TECHNICAL INSTITUTES

 * v,,;t.a

"SEC. 702. (a) Sums reserved pursuant to the first sentence of section 701(c) shall be available for allotments to States for providing academic facilities for public community colleges and public technical institutes. State allotments, "(jj) From the sums available for any fiscal year for the purposes of this section, the Commissioner shall allot to each State an amount which bears the same ratio to such sums as the product of— "(1) the number of high school graduates of the State, and " (2) the State's allotment ratio,

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bears to the sum of the corresponding products for all the States. The amount allotted to any State under the preceding sentence for any fiscal year which is less than $50,000 shall be increased to $50,000, the total of increases thereby required being derived by proportionately reducing the amount allotted to each of the remaining States under the preceding sentence, but with such adjustments as may be necessary to prevent the allotment of any such remaining States from being thereby reduced to less than $50,000. ., ^^.,. " (c)(1) From the sums available for any fiscal year for amount allotted to a State under this section shall be available for the payment of the Federal share of the development cost of approved projects for the construction of academic facilities within such State for public community colleges and public technical institutes. "(2) Any portion of a State's allotment under this section for any fiscal year for which applications from an institution qualified to receive grants under this section have not been received prior to January 1 of such fiscal year by the State Commission created or designated pursuant to section 1202 shall, if the State Commission so go's !l^ 10^2^°' requests, be available for payment of the Federal share of the develop- 20 USC 114*2. ment cost of approved projects under section 703. " (d) All amounts allotted under this section for any fiscal year which Reaiiotment. are not reserved as provided in section 701(c) by the close of the fiscal year for which they are allotted shall "be reallotted by the Commissioner, on the basis of such factors as he determines to be equitable and reasonable, among the States which, as determined by the Commissioner, are able to use without delay any amounts so reallotted for the purpose set forth in subsection (c)(1). Amounts reallotted under this subsection shall be available for reservation until the close of the fiscal year next succeeding the fiscal year for which they were originally allotted. "(e) For the purposes of clause (2) of subsection (b), the 'allotment j.^^!"^"""™*"* ratio' for any State shall be 1.00 less the product of (A) 0.50 and (B) the quotient obtained by dividing the income per person for the State by the income per person for all the States (not including Puerto Rico, the Virgin Islands, American Samoa, the Trust Territory of the Pacific Islands, and Guam), except that (i) the allotment ratio shall in no case be less than 0.331/^ or more than 0.66%, (ii) the allotment ratio for Puerto Rico, the Virgin Islands, American Samoa, the Trust Territory of the Pacific Islands, and Guam shall be 0.66%, and (iii) the allotment ratio of any State shall be 0.50 for any fiscal year if the Commissioner finds that the cost of school construction in such State exceeds twice the median of such costs in all the States as determined by him on the basis of statistics and data as the Commissioner shall deem adequate and appropriate. The allotment ratios shall be iiSTtoa:.w promulgated by the Commissioner as soon as possible after June 30, 1972, and annually thereafter, on the basis of the average of the incomes per person of the State and of all the States for the three most recent consecutive calendar years for which satisfactory data are available from the Department of Commerce. "(f) For the purpose of this section, the term 'high school graduate' "High school means a person who has received formal recognition (by diploma, 8»^aduate." certificate, or similar means) from an approved school for successful completion of four years of education beyond the first eight years of school work, or for demonstration of equivalent achievement. For the purposes of this section the number of high school graduates shall be limited to the number who graduated in the most recent school year for which satisfactory data are available from the Department of Health, Education, and Welfare, The interpretation of the definition of 'high school graduate' shall fall within the authority of the Commissioner.

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[86

STAT.

"IXSTITI TIONS OF HIGHER EDUCATION OTHER THAN PUBLIC C03IMUN1TY COLLEGES AND PUBLIC TECHNICAL INSTITUTES

State allotments.

Limitation.

Reallotment.

"SEC. 703. (a) Sums appropriated pursuant to section 701(b) which remain after the reservation provided for in the first sentence of section 701(c) for any fiscal year shall be available for allotments to States for providing academic facilities for institutions of higher education other than institutions eligible for grants under section 702. " (b) Sums available for the purposes of this section for any fiscal year shall be allotted among the States as follows: "(1) The Commissioner shall allot to each State an amount which bears the same ratio to 50 per centum of such sums as the number of students enrolled in institutions of higher education in such States bears to the number of students so enrolled in all the States; and "(2) The Commissioner shall allot to each State an amount which bears the same ratio to 50 per centum of such sums as the number of students enrolled in grades nine through twelve (both inclusive) of schools in such State bears to the total number of students so enrolled in all the States, For the purposes of this subsection (A) the number- of students enrolled in institutions of higher education shall be deemed to be equal to the sum of (i) the number of full-time students and (ii) the full-time equivalent of the number of part-time students as determined by the Commissioner in accordance with regulations; and (B) determinations as to enrollment under either clause (1) or clause (2) shall be made by the Commissioner on the basis of data for the most recent year for which satisfactory data with respect to such enrollment are available to him. The amount allotted to any State under the preceding sentence for any fiscal yeai- shall not be less than $50,00. "(c)(1) Any amount allotted to a State under this section for any fiscal year shall, except as provided in paragraph (2), be available, in accordance with the provisions of this title, for payment of the Federal share of the development cost of approved projects for the construction of academic facilities within such State for institutions of higher education which are not eligible for grants under section 702. "(2) Any portion of a State's allotment under this section for any fiscal year for which applications from an institution qualified to receive grants under this section have not been received by the State Commission prior to January 1 of such fiscal year, shall, if the State Commission so requests, be available for- payment of the Federal share of the development cost of approved projects under section 702, " (d) All amounts allotted under this section for any fiscal year, which are not reserved by the close of the fiscal year for which they are allotted, shall be reallotted by the Commissioner, on the basis of such factors as he determines to be equitable and reasonable, among the States which, as determined by the Commissioner, are able to use without delay any amounts so reallotted for the purposes of this section. Amounts reallotted under this subsection shall be available for reservation until the close of the fiscal year- next succeeding the fiscal year for which they were or-iginally allotted. "STATE PLANS

"SEC. 704. (a) Any State desiring to participate in the grant i^rogram authorized by this part for any fiscal year shall submit for that year to the Commissioner through the State Commission a State plan for such participation. Such plan shall be submitted at such time, in

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such manner, and containing such information as may be necessary to enable the Commissioner to carry out his functions under this part and shall— "(1) provide that it shall be administered by the State Commission; "(2) set forth objective standards and methods which are consistent with basic criteria prescribed by regulations pursuant to section 706, for— " (A) determining the relative priorities of eligible projects submitted by institutions of higher education within the State for the construction of academic facilities, and " (B) determining the Federal share of the development cost of each such project; "(3) provide that the funds apportioned for any fiscal year under section 702 or 703 shall be used only for the purposes set forth therein; "(4) provide for— " (A) assigning priorities solely on the basis of such criteria, standards, and methods to eligible projects submitted to the State Commission and found by it otherwise approvable under the provisions of this part, and " (B) approving and recommending to the Commissioner, in the order of such priority, applications covering such eligible projects, and for certifying to the Commissioner the Federal share of the development cost of the project involved; "(5) provide for affording to every applicant which has submitted a project to the State Commission an opportunity for a fair hearing before the State Commission as to the priority assigned to such project, or as to any other determination of the State Commission adversely affecting such applicant; and "(6) provide for— " (A) such fiscal control and fund accounting procedures as may be necessary to assure proper disbursement of, and accounting for. Federal funds paid to the State Commission under this part, and " (B) making such reports, in such form and containing such information, as may be reasonably necessary to enable the Commissioner to perform his functions under this part. "(b) The Commissioner shall approve any State plan submitted under this section if lie determines that it complies with the provisions of thissection and other appropriate provisions of this title. "ELIGIBILITY FOK GRANTS

"SEC. 705. (a) Except as is provided in subsection (b), an institution of higher education shall be eligible for a grant under this part only if the State Commission determines, in accordance with criteria prescribed by regulation, that the construction project for which assistance is sought will, either alone or together with other constniction to be undertaken within a reasonable time, result in— " (1) a substantial expansion of, or " (2) in the case of a new institution, the creation of, urgently needed (A) enrollment capacity, (B) the capacity to provide health care for students and institutional pereonnel, or (C) capacity to carry out extension and continuing education programs on the campus of such institution. "(b) If the Commissioner determines, in accordance with criteria established by regulation, that the student enrollment capacity of an institution of higher education would decrease if an urgently needed

'-''*' '

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