20 USC 1161 - Incentives and rewards for low tuition

Collapse to view only § 1161m. Incentives and rewards for low tuition

§ 1161m. Incentives and rewards for low tuition

§ 1161m. Incentives and rewards for low tuition

(a) Rewards for low tuition

(1) GrantsFrom funds made available under subsection (e), the Secretary shall award grants to institutions of higher education that, for academic year 2009–2010 or any succeeding academic year—

(A) have an annual tuition and fee increase, expressed as a percentage change, for the most recent academic year for which satisfactory data is available, that is in the lowest 20 percent of such increases for each category described in subsection (b);

(B) are public institutions of higher education that have tuition and fees that are in the lowest quartile of institutions in each category described in subsection (b)(1), (b)(4), or (b)(7); or

(C) are public institutions of higher education that have a tuition and fee increase of less than $600 for a first-time, full-time undergraduate student.

(2) Use of funds

(b) Categories of institutionsThe categories of institutions described in subsection (a) shall be the following:

(1) four-year public institutions of higher education;

(2) four-year private, nonprofit institutions of higher education;

(3) four-year private, for-profit institutions of higher education;

(4) two-year public institutions of higher education;

(5) two-year private, nonprofit institutions of higher education;

(6) two-year private, for-profit institutions of higher education;

(7) less than two-year public institutions of higher education;

(8) less than two-year private, nonprofit institutions of higher education; and

(9) less than two-year private, for-profit institutions of higher education.

(1) Bonus

(2) Four-year institutionsAn institution of higher education that provides a program of instruction for which it awards a bachelor’s degree complies with the requirements of this paragraph if—

(A) for a public institution of higher education, such institution’s tuition and fees are in the lowest quartile of institutions in the same category as described under subsection (b); or

(B) for any institution of higher education, such institution guarantees that for any academic year (or the equivalent) beginning on or after July 1, 2009, and for each of the four succeeding continuous academic years, the tuition and fees charged to an undergraduate student will not exceed—

(i) for a public institution of higher education, $600 per year for a full-time undergraduate student; or

(ii) for any other institution of higher education—(I) the amount that the student was charged for an academic year at the time the student first enrolled in the institution of higher education, plus(II) the percentage change in tuition and fees at the institution for the three most recent academic years for which data is available, multiplied by the amount determined under subclause (I).

(3) Less-than four-year institutionsAn institution of higher education that does not provide a program of instruction for which it awards a bachelor’s degree complies with the requirements of this paragraph if—

(A) for a public institution of higher education, such institution’s tuition is in the lowest quartile of institutions in the same category as described under subsection (b); or

(B) for any institution of higher education, such institution guarantees that for any academic year (or the equivalent) beginning on or after July 1, 2009, and for each of the 1.5 succeeding continuous academic years, the tuition and fees charged to an undergraduate student will not exceed—

(i) for a public institution of higher education, $600 per year for a full-time undergraduate student; or

(d) Definitions

(e) Authorization

(Pub. L. 89–329, title VIII, § 830, as added Pub. L. 110–315, title VIII, § 801, Aug. 14, 2008, 122 Stat. 3413; amended Pub. L. 111–39, title VIII, § 801(10), July 1, 2009, 123 Stat. 1956.)