Page 673 TITLE 25—INDIANS § 3335

1So in original. Probably should be ‘‘the’’.

(6) a program to identify students with a

level of postsecondary completion short of the

fulfillment of graduation requirements and to

encourage them to complete these requirements, including provision of resources, will

benefit the students, the tribes, and the Federal Government.

(b) Purposes

The purposes of this subchapter are—

(1) to establish a revolving loan program to

be administered by a tribe or tribal organization for the purposes of increasing the number

of college graduates available to work in tribal businesses, tribal government, and tribal

services such as schools and hospitals;

(2) to conduct research to assess the situational and educational barriers to participation in postsecondary education; and

(3) to encourage development, through

grants, of a model which provides, in addition

to loans, transitional and follow-up services

needed to encourage persistence in postsecondary education.

(Pub. L. 102–325, title XIII, §1342, July 23, 1992,

106 Stat. 809.)

§ 3333. Revolving fund

(a) Receipt, investment, and accounting

(1) Tribes and tribal organizations

Funds received under a grant under this subchapter or recovered under the provisions of

section 3336(a)(2)(B) of this title shall be identified and accounted for separately from any

other tribal or Federal funds received from the

Federal Government. All funds in this account

shall be used for the purposes of this subchapter.

(2) Financial procedures

The Secretary of the Interior is responsible

for establishing, by regulations, such requirements for receipt, investment and accounting

of funds under subsection (b) of this section as

shall safeguard and 1 financial interests of the

Federal Government.

(b) Investment

Funds provided under this subchapter or recovered by the tribe or tribal organization under

the provisions of section 3336(a)(2)(B) of this

title shall be—

(1) invested by the Indian tribe or tribal organization only in obligations of the United

States or in obligations or securities that are

guaranteed or insured by the United States, or

(2) deposited only in accounts that are insured by an agency or instrumentality of the

United States.

(c) Treatment of income

Notwithstanding any other provision of law,

any interest or investment income that accrues

on any funds covered under this provision after

such funds have been distributed to a tribe or

tribal organization and before such funds are

distributed for the purposes of making loans

under this subchapter shall be the property of

the tribe or tribal organization and shall not be

taken into account by any officer or employee of

the Federal Government in determining whether

to provide assistance, or the amount of assistance, under any provision of Federal law.

(Pub. L. 102–325, title XIII, §1343, July 23, 1992,

106 Stat. 809.)

SECTION REFERRED TO IN OTHER SECTIONS

This section is referred to in section 3336 of this title.

§ 3334. Eligible recipients

(a) Tribes and tribal organizations

The Secretary of the Interior (hereafter in this

subchapter referred to as the ‘‘Secretary’’) shall

make grants, in accordance with the requirements of this subchapter, to—

(1) tribes or multitribal organizations not

serviced by current federally funded postsecondary institutions authorized for economic development grants; and

(2) tribes or multitribal organizations which

lack sufficient numbers of professionally

trained tribal members to support established

or ongoing economic development initiatives.

(b) Students

Any tribe or tribal organization that receives

funds under subsection (a) of this section shall

make such funds available by loan, under terms

and conditions consistent with section 3335 of

this title, to Indian students who have successfully completed 30 hours of postsecondary education and who are eligible for readmission to a

postsecondary institution.

(Pub. L. 102–325, title XIII, §1344, July 23, 1992,

106 Stat. 810.)

§ 3335. Terms of loans

(a) In general

A loan under this subchapter to an Indian student shall—

(1) be subject to repayment over a period of

not more than 5 years;

(2) not bear interest;

(3) be subject to forgiveness for services to

the tribe in accordance with section 3336 of

this title; and

(4) contain such additional terms and conditions as the initial loan agreement between

the tribe or tribal organization and student

may prescribe in writing.

(b) Cost of attendance

Calculation of the cost of attendance for the

student must include all costs as determined by

the tribe for the purposes of fulfilling the policy

of this subchapter.

(c) Additional requirements

Any student seeking a loan under this subchapter shall apply for and accept the maximum

financial aid available from other sources. However, for purposes of determining eligibility,

loans provided under this program may not be

considered in needs analysis under any other

Federal law, and may not penalize students in

determining eligibility for other funds.

(Pub. L. 102–325, title XIII, §1345, July 23, 1992,

106 Stat. 810.)