Source: http://fsmsupremecourt.org/WebSite/fsm/code/title40/T40_Ch03.htm
Timestamp: 2018-07-20 22:26:42
Document Index: 336212172

Matched Legal Cases: ['§ 311', '§ 321', '§ 324', '§ 351', '§ 371', '§ 311', '§ 311', '§ 1', '§ 1', '§ 1', '§ 1']

Chapter 3: Student Assistance
I: Student Loan Fund (§§ 311-316) [REPEALED]
II: General Assistance (§§ 321-323)
III. Student Loan Revolving Fund (§§ 324-334)
IV. Continental Airlines Scholarship Program (§ 351)
V. Fisheries and Maritime Training Programs (§ 371)
Subchapter I: Student Loan Fund
(§§ 311-316)
Editor's note: The former subchapter I, §§ 311-316, of chapter 3 of this title on, "Student Loan Fund," was repealed by PL 6-44 § 1.
Subchapter II: General Assistance
Subchapter III: Student Loan
This subchapter shall be known as the "National Student Loan Revolving Fund Act of 1982".
Editor's note: PL 2-50, codified herein as subchapter III, did not expressly repeal subchapter I of this chapter. However, PL 6-44 § 1, explicitly repealed subchapter I of this chapter.
(1) "Academic year" or its equivalent means the number of credit hours which a student must acquire during any one school year in order to secure the degree or certificate toward which he or she is working in the number of semesters or terms normally taken therefor at the institution where he is pursuing a course of study.
(2) "Chief" means the chief of the Division of Education of the Federated States of Micronesia.
(3) "Full-time attendance" means compliance by a full-time student with policies and regulations regarding attendance in effect at the institution in which he or she is enrolled.
(4) "Full-time student" means a student who is carrying a full-time academic work load in terms of course work or other required activities as determined by the institution.
(5) "Fund" means the National Student Loan Revolving Fund.
(6) "Institution of higher education" means an educational institution which:
(c) provides an educational program for which it awards a bachelor's degree or provides not less than a two-year program which is acceptable for full credit toward such a degree;
(7) "Professional" or "graduate student" means, in general, a student who is enrolled in an academic program of instruction above the college level which is provided at an institution of higher education. The term includes:
(i) a degree beyond the bachelor's or first professional degree, or
(8) "Satisfactory standing" and "good standing" mean the eligibility of a student to continue in attendance at the institution where he or she is enrolled as a student in accordance with the institution's standards and practices.
There is established a Student Loan Revolving Fund (hereinafter the "fund"), separate from the General Fund or other funds. All appropriations for student loans shall be deposited in this account. In addition all repayments of principal and interest from loans made from this fund shall be deposited back into the fund for the purposes stated in section 325 of this subchapter. Further, all loan repayments of interest and principal for funds received from appropriations made pursuant to:
Subchapter IV: Continental Airlines
Editor's note: PL 6-3 § 1, appropriated $35,000 for the purpose of funding scholarships for post-secondary students which have been established pursuant to the settlement with Continental Airlines entered into on May 7, 1987. It is the understanding of the FSM Congress that Continental Airlines, Inc. is to pay said sum into the General Fund each year for 10 years effective upon the date of settlement, and, further, that such payment has been made for the fiscal year ending September 30, 1989.
Subchapter V: Fisheries and Maritime
Editor's note: PL 6-64 § 1, appropriated $60,000 for the purpose of funding tuition and fees to allow FSM citizens to attend fisheries and maritime training programs.