115 STAT. 648 • PUBLIC LAW 107-72—NOV. 20, 2001 Public Law 107-72 107th Congress An Act N 90 9001 "^^ amend the Improving America's Schools Act of 1994 to extend the favorable —
treatment of need-based educational aid under the antitrust laws, and for other [H.R. 768] purposes. Be it enacted by the Senate and House of Representatives of Need-Based the United States of America in Congress assembled, Educational Aid Act of 2001. SECTION 1. SHORT TITLE. 15 USC 1 note. This Act may be cited as the "Need-Based Educational Aid Act of 2001". SEC. 2. AMENDMENT. Section 568(d) of the Improving America's Schools Act of 1994 (15 U.S.C. 1 note) is amended by striking "2001" and inserting " 2008". 15 USC 1 note. SEC. 3. GAO STUDY AND REPORT. (a) STUDY.— (1) IN GENERAL.— The Comptroller General shall conduct a study of the effect of the antitrust exemption on institutional student aid under section 568 of the Improving America's Schools Act of 1994 (15 U.S.C. 1 note). (2) CONSULTATION. — The Comptroller General shall have final authority to determine the content of the study under paragraph (1), but in determining the content of the study, the Comptroller General shall consult with— (A) the institutions of higher education participating under the antitrust exemption under section 568 of the Improving America's Schools Act of 1994 (15 U.S.C. 1 note) (referred to in this Act as the "participating institutions"); (B) the Antitrust Division of the Department of Justice; and (C) other persons that the Comptroller General determines are appropriate. (3) MATTERS STUDIED.— (A) IN GENERAL.— The study under paragraph (1) shall— (i) examine the needs analysis methodologies used by participating institutions; (ii) identify trends in undergraduate costs of attendance and institutional undergraduate grant aid among participating institutions, including— (I) the percentage of first-year students receiving institutional grant aid;
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