SEC. 1402. INDIVIDUALS ELIGIBLE TO RECEIVE A NA-
TIONAL 
SERVICE 
EDUCATIONAL 
AWARD 
FROM THE TRUST. 
Section 146 (42 U.S.C. 12602) is amended— 
(1) in subsection (a)— 
(A) in the matter preceding paragraph (1), 
by striking ‘‘if the individual’’ and inserting ‘‘if 
the organization responsible for an individual’s 
supervision certifies that the individual’’; 
(B) by striking paragraphs (1), (2), and 
(3) and inserting the following: 
‘‘(1) met the applicable eligibility requirements 
for the position; and 
‘‘(2)(A) successfully completed the required 
term of service described in subsection (b) in an ap-
proved national service position; or 
‘‘(B)(i) satisfactorily performed prior to being 
granted a release for compelling personal cir-
cumstances under section 139(c); and 
‘‘(ii) served at least 15 percent of the required 
term of service described in subsection (b); and’’; 
and 
(C) by redesignating paragraph (4) as 
paragraph (3); 
(2) by striking subsection (c) and inserting the 
following: 
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‘‘(c) LIMITATION ON RECEIPT OF NATIONAL SERV-
ICE EDUCATIONAL AWARDS.—An individual may not re-
ceive, in national service educational awards, more than 
an amount equal to the aggregate value of 2 such awards 
for full-time service. The aggregate value of summer of 
service educational awards that an individual receives shall 
have no effect on the aggregate value of national service 
educational awards the individual may receive.’’; 
(3) in subsection (d)— 
(A) in paragraph (1) by inserting after 
‘‘national service educational award’’ the fol-
lowing: ‘‘or a summer of service educational 
award’’; and 
(B) in paragraph (2)— 
(i) in the matter preceding subpara-
graph (A), and in subparagraph (A), by in-
serting after ‘‘national service educational 
award’’ the following: ‘‘or a summer of 
service educational award’’; 
(ii) in subparagraph (A) by striking 
‘‘or’’ at the end; 
(iii) in subparagraph (B) by striking 
the period at the end and inserting ‘‘; or’’; 
(iv) by adding at the end the fol-
lowing: 
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‘‘(C) in the case of a summer of service 
educational award, is enrolled at an eligible in-
stitution of higher education under section 
148(c) or an educational institution described 
under section 148(a)(4) and failed to expend 
the full amount of that award during the origi-
nal 7-year period.’’; and 
(4) in subsection (e)(1)— 
(A) by inserting after ‘‘qualifying under 
this section’’ the following: ‘‘or under section 
111(a)(5)’’; and 
(B) by inserting after ‘‘to receive a na-
tional service educational award’’ the following: 
‘‘or a summer of service educational award’’. 
SEC. 1403. DETERMINATION OF THE AMOUNT OF NATIONAL 
SERVICE EDUCATIONAL AWARDS. 
Section 147(a) (42 U.S.C. 12603(a)) is amended— 
(1) by striking ‘‘a value, for each of not more 
than 2 of such terms of service, equal to 90 percent 
of—’’ and inserting ‘‘a value of—’’; and 
(2) by striking paragraphs (1) and (2) and in-
serting the following: 
‘‘(1) $4,825, for fiscal year 2008; 
‘‘(2) $4,925, for fiscal year 2009; 
‘‘(3) $5,025, for fiscal year 2010; 
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‘‘(4) $5,125, for fiscal year 2011; and 
‘‘(5) $5,225, for fiscal year 2012 and each fis-
cal year thereafter.’’. 
SEC. 1404. DISBURSEMENT OF EDUCATIONAL AWARDS. 
Section 148 (42 U.S.C. 12604) is amended— 
(1) in subsection (a)— 
(A) in paragraph (2), by striking ‘‘cost of 
attendance’’ and inserting ‘‘cost of attendance 
or other educational expenses’’; 
(B) in paragraph (3), by striking ‘‘and’’; 
(C) by redesignating paragraph (4) as 
paragraph (6); 
(D) by inserting after paragraph (3) the 
following: 
‘‘(4) to pay expenses incurred in enrolling in an 
educational institution or training establishment that 
meets the requirements of chapter 36 of title 38, 
United States Code (38 U.S.C. 3451 et seq.); 
‘‘(5) for a recipient of a summer of service edu-
cational award under section 111(a)(5)(D), to pay 
expenses incurred in enrolling in a college pre-
paratory program in accordance with subsection (e); 
and’’; and 
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(E) in paragraph (6) (as so redesignated) 
by striking ‘‘subsection (e)’’ and inserting ‘‘sub-
section (f)’’; 
(2) in subsection (b)(1) by inserting after ‘‘the 
national service educational award of the individual’’ 
the following: ‘‘, or an eligible individual under sec-
tion 111(a)(5) who received a summer of service 
educational award for a project that began after the 
individual completed grade 10 and desires to apply 
that summer of service educational award,’’; 
(3) in subsection (b)(2) by inserting after ‘‘the 
national service educational award’’ the following: 
‘‘or the summer of service educational award, as ap-
plicable,’’; 
(4) in subsection (b)(5) by inserting after ‘‘the 
national service educational award’’ the following: 
‘‘or the summer of service educational award, as ap-
plicable’’; 
(5) in subsection (b)(7)— 
(A) in subparagraph (A), by striking ‘‘, 
other than a loan to a parent of a student pur-
suant to section 428B of such Act (20 U.S.C. 
1078–2); and’’ and inserting a semicolon; 
(B) in subparagraph (B), by striking the 
period and inserting ‘‘; and’’; and 
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(C) by adding at the end the following: 
‘‘(C) any loan (other than a loan described 
in subparagraph (A) or (B)) determined by an 
institution of higher education to be necessary 
to cover a student’s educational expenses and 
made, insured, or guaranteed by— 
‘‘(i) an eligible lender, as defined in 
section 435 of the Higher Education Act 
of 1965 (20 U.S.C. 1085); 
‘‘(ii) the direct student loan program 
under part D of title IV of such Act; 
‘‘(iii) a State agency; or 
‘‘(iv) a lender otherwise determined by 
the Corporation to be eligible to receive 
disbursements from the National Service 
Trust.’’; 
(6) in subsection (c)(1), by inserting after ‘‘the 
national service educational award’’ the following: ‘‘, 
or an eligible individual under section 111(a)(5) who 
desires to apply the individual’s summer of service 
educational award,’’; 
(7) in subsection (c)(2)(A), by inserting after 
‘‘national service educational award’’ the following: 
‘‘or summer of service educational award, as applica-
ble,’’; 
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