PUBLIC LAW 99-498—OCT. 17, 1986
100 STAT. 1331
"(C) If additional amounts are appropriated for any such fiscal year, such reduced amounts shall be increased on the same basis as they were reduced (until the amount allocated equals the amount required to be allocated under paragraphs (1) and (2) of this subsection). "(b) ALLOCATION OF EXCESS BASED ON PRO RATA SHARE.—From
one-quarter of the remainder of the amount appropriated pursuant to section 413A(b) for any fiscal year (after making the allocations required by subsection (a)), the Secretary shall allocate to each eligible institution an amount which bears the same ratio to such one-quarter as the amount the eligible institution receives for such fiscal year under subsection (a) bears to the amount all such institutions receive under such subsection (a). "(c) ALLOCATION OF EXCESS BASED ON FAIR SHARE.—(1) From three-quarters of the remainder of the amount appropriated pursuant to section 413A(b) for each year (after making the allocations required by subsection (a)), the Secretary shall allocate to each eligible institution which has an excess eligible amount an amount which bears the same ratio to such remainder as such excess eligible amount bears to the sum of the excess eligible amounts of all such eligible institutions (having such excess eligible amounts), "(2) For any eligible institution, the excess eligible amount is the amount, if any, by which— "(A)(i) the amount of that institution's need (as determined under subsection (d)), divided by (ii) the sum of the need of all institutions (as so determined), multiplied by (iii) the amount appropriated pursuant to section 413A(b) of the fiscal year; exceeds "(B) the amount required to be allocated to that institution under subsection (a). "(d) DETERMINATION OF INSTITUTION'S NEED.—(1) The amount of an institution's need is equal to— "(A) the sum of the need of the institution's eligible undergraduate students; minus "(B) the sum of grant aid received by students under subparts 1 and 3 of this part. "(2) To determine the need of an institution's eligible undergraduate students, the Secretary shall— "(A) establish various income categories for dependent and independent undergraduate students; "(B) establish an expected family contribution for each income category of dependent and independent undergraduate students, determined on the basis of the average expected family contribution (computed in accordance with part F of this title) of a representative sample within each income category for the second preceding fiscal year; "(C) compute 75 percent of the average cost of attendance for all undergraduate students; "(D) multiply the number of eligible dependent students in each income category by the lesser of— "(i) 75 percent of the average cost of attendance for all undergraduate students determined under subparagraph (C); or "(ii) the average cost of attendance for all undergraduate students minus the expected family contribution determined under subparagraph (B) for that income category,
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