12 2 STA T .3498PUBLIC LA W 11 0– 31 5— AU G .14 , 2008 degr ee o r c er tif ic a te ,bu ta ls oa ny increase in t h enu m ber of less - than-half-time students that may result from an e xp an- sion of F ederal aid for less-than-half-time students see k ing a college degree or certificate .(3)T he potential costs to the Federal G o v ernment and the potential benefits that could be received by students resulting from expanding Federal aid for less-than-half-time students seeking a college degree or certificate. ( 4 ) The barriers to expanding Federal aid for less-than- half-time students, including identifying — ( A ) statutory and regulatory barriers, such as student eligibility, institutional eligibility, needs analysis, program integrity, and a w ard amounts
and ( B ) other factors that may limit participation in an expanded Federal aid program for less-than-half-time stu- dents. (c) RECOM ME NDATI ON S TO BE PR O V IDED.—The S ecretary ’ s rec- ommendations under this section shall include recommendations for designing a demonstration student loan program tailored to less-than-half-time students. The recommendations shall include any re q uired statutory or regulatory modifications, as well as pro- posed accountability mechanisms to protect students, institutions, and the Federal investment in higher education. (d) D E F INITIONS.— I n this section— ( 1 ) the term ‘ ‘Secretary’’ means the Secretary of E ducation; and ( 2 ) the term ‘‘less-than-half-time student’’ means a student who is carrying less than one-half the normal full-time work load for the course of study that the student is pursuing, as determined by the institution such student is attending. SEC.1 11 4 .S TUDYONR E GI ON AL SENSITI V ITYINT H E NEEDS ANALYSIS F OR M ULA. (a) ST U D Y .—The C omptroller General of the U nited States shall conduct a study to review the methodology that is used to determine the expected family contribution under part F of title I V of the H igher Education Act of 1 965 (2 0 U.S.C. 10 87 kk et seq.). (b) STUDY COM P ONENTS.—The study conducted under sub- section (a) shall identify and evaluate the needs analysis formula under part F of title IV of the Higher Education Act of 1965 (20 U.S.C. 1087kk et seq.) and examine the need for regional sensitivity in need analysis. The study shall include— (1) the factors that are used to determine a student’s expected family contribution under part F of title IV of the Higher Education Act of 1965; (2) the varying allowances that are made in calculating the expected family contribution; (3) the effects of the income protection allowance on all aid recipients; and (4) options for modifying the income protection allowance to reflect the significant differences in the cost of living in various parts of the United States. (c) REPORT.— N ot later than one year after the date of enact- ment of this Act, the Comptroller General of the United States shall report to the authori z ing committees on the results of the study conducted under this section. Deadlin e .
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