Source: https://codes.findlaw.com/us/title-42-the-public-health-and-welfare/42-usc-sect-12604.html
Timestamp: 2019-09-17 11:58:31
Document Index: 503311522

Matched Legal Cases: ['§ 12604', '§ 12604', '§ 12604', '§ 12604', '§\u20022751', '§\u2002292', '§\u2002296', '§\u20022751', '§\u20021002', '§ 12604', '§ 12604']

42 U.S.C. § 12604 - U.S. Code Title 42. The Public Health and Welfare § 12604 | FindLaw
42 U.S.C. § 12604 - U.S. Code - Unannotated Title 42. The Public Health and Welfare § 12604. Disbursement of educational awards
Amounts in the Trust shall be available--
(1) to repay student loans in accordance with subsection (b) of this section;
(2) to pay all or part of the cost of attendance or other educational expenses at an institution of higher education in accordance with subsection (c) of this section;
(3) to pay expenses incurred in participating in an approved school-to-work program in accordance with subsection (d) of this section;
(5) to pay interest expenses in accordance with regulations prescribed pursuant to subsection (e) of this section.
An eligible individual under section 12602 of this title who desires to apply the national service educational award of the individual, an eligible individual under section 12602(a) of this title who served in a summer of service program and desires to apply that individual's summer of service educational award, or an eligible individual under section 12602(a) of this title who served in a silver scholar program and desires to apply that individual's silver scholar educational award, to the repayment of qualified student loans shall submit, in a manner prescribed by the Corporation, an application to the Corporation that--
(7) “Qualified student loans” defined
As used in this subsection, the term “qualified student loans” means--
(A) any loan made, insured, or guaranteed pursuant to title IV of the Higher Education Act of 1965 ( 20 U.S.C. 1070 et seq. [and 42 U.S.C.A. § 2751 et seq. ] ), other than a loan to a parent of a student pursuant to section 428B of such Act ( 20 U.S.C. 1078-2 );
(B) any loan made pursuant to title VII or VIII of the Public Health Service Act [ 42 U.S.C.A. § 292 et seq., § 296 et seq. ]; and
(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 ( 20 U.S.C. 1087a et seq. );
(8) “Holder” defined
An institution of higher education that receives one or more applications that comply with paragraph (1) shall submit to the Corporation a statement, in a manner prescribed by the Corporation, that--
(C) certifies that--
(i) the institution of higher education has in effect a program participation agreement under section 487 of the Higher Education Act of 1965 ( 20 U.S.C. 1094 );
(ii) the institution's eligibility to participate in any of the programs under Title IV of such Act ( 20 U.S.C. 1070 et seq. [and 42 U.S.C.A. § 2751 et seq. ] ) has not been limited, suspended, or terminated; and
Upon receipt of a statement from an institution of higher education that complies with paragraph (2), the Corporation shall, subject to paragraph (4), disburse the total amount of the national service educational awards 1 summer of service educational awards, or silver scholar educational awards for which eligible individuals who have submitted applications to that institution under paragraph (1) are scheduled to receive. Such disbursement shall be made by check or other means that is payable to the institution and requires the endorsement or other certification by the eligible individual.
The Corporation shall, by regulation, provide for the refund to the Corporation (and the crediting to the national service educational award, summer of service educational award, or silver scholar educational award, as applicable, of an eligible individual) of amounts disbursed to institutions for the benefit of eligible individuals who withdraw or otherwise fail to complete the period of enrollment for which the assistance was provided. Such regulations shall be consistent with the fair and equitable refund policies required of institutions pursuant to section 484B of the Higher Education Act of 1965 ( 20 U.S.C. 1091b ). Amounts refunded to the Trust pursuant to this paragraph may be used by the Corporation to fund additional approved national service positions under division C of this subchapter, additional approved summer of service positions, and additional approved silver scholar positions.
The portion of an eligible individual's total available national service educational award, summer of service educational award, or silver scholar educational award that may be disbursed under this subsection for any period of enrollment shall not exceed the difference between--
(A) the eligible individual's cost of attendance and other educational expenses for such period of enrollment, determined in accordance with section 472 of the Higher Education Act of 1965 ( 20 U.S.C. 1087ll ); and
(B) the student's estimated financial assistance for such period under part A of title IV of such Act ( 20 U.S.C. 1070 et seq. ).
The Corporation shall provide by regulation for the payment on behalf of an eligible individual of interest that accrues during a period for which such individual has obtained forbearance in the repayment of a qualified student loan (as defined in subsection (b)(7) of this section), if the eligible individual successfully completes the individual's required term of service (as determined under section 12602(b) of this title). Such regulations shall be prescribed after consultation with the Secretary of Education.
An educational award may be transferred under this subsection if--
(A)(i) the award is a national service educational award for service in a national service program that receives a grant under division C of this subchapter; and
In this subsection, the term “designated individual” is an individual--
(h) “Institution of higher education” defined
Notwithstanding section 12511 of this title, for purposes of this section the term “institution of higher education” has the meaning provided by section 102 of the Higher Education Act of 1965 [ 20 U.S.C.A. § 1002 ].
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