Page:United States Statutes at Large Volume 88 Part 2.djvu/273

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[88 STAT. 1589]
[88 STAT. 1589]
PUBLIC LAW 93-000—MMMM. DD, 1975

88

STAT.]

PUBLIC LAW 93-508-DEC. 3, 1974

1589;

(B) inserting "and provide for" after "conduct" in paragraph (5). (b) The table of sections at the beginning of such chapter is amended by striking out "243. Utilization of other agencies. "244. Report to Congress." and inserting i n lieu thereof "243. Veterans' representatives. "244. Utilization of other agencies. "245. Report to Congress.".

TITLE III—VETERANS AND DEPENDENTS EDUCATION LOAN PROGRAM SEC. 301, (a) Chapter 36 of title 38, United States Code, is amended by adding at the end thereof the following new subchapter: Subchapter III—Education Loans to Eligible Veterans and Eligible Persons §1798. Eligibility for loans; amount and conditions of loans; interest rate on loans " (a) Each eligible veteran and eligible person shall be entitled to a loan under this subchapter in an amount determined under, and subject to the conditions specified in, subsection (b)(1) of this section if the veteran or person satisfies the requirements set forth in subsection (c) of this section. " (b)(1) Subject to paragraph (3) of this subsection, the amount of the loan to which an eligible veteran or eligible person shall be entitled under this subchapter for any academic year shall be equal to the amount needed by such veteran or person to pursue a program of education at the institution at which he is enrolled, as determined under paragraph (2) of this subsection. "(2)(A) The amount needed by a veteran or person to pursue a program of education at an institution for any academic year shall be determined by subtracting (i) the total amount of financial resources (as defined in subparagraph (B) of this paragraph) available to the veteran or person which may be reasonably expected to be expended by such veteran or person for educational purposes in any year from (ii) the actual cost of attendance (as defined in subparagraph (C) of this paragraph) at the institution in which such veteran or person is enrolled. " (B) The term 'total amount of financial resources' of any veteran or person for any year means the total of the following: " (i) The annual adjusted effective income of the veteran or person less Federal income tax paid or payable by such veteran or person with respect to such income. " (ii) The amount of cash assets of the veteran or person, "(iii) The amount of financial assistance received by the veteran or person under the provisions of title IV of the Higher Education Act of 1965, as amended. "(iv) Educational assistance received by the veteran or person under this title other than under this subchapter. " (v) Financial assistance received by the veteran or person under any scholarship or grant program other than those specified in clauses (iii) and (iv). " (C) The term 'actual cost of attendance' means, subject to such regulations as the Administrator may provide, the actual per-student

38-194 O - 76 -18 Pt. 2

38 USC 1798.

" To t a l amount of financial re-

20 USC 1061.

' 'Actual c o s t of attendance."