124 STAT. 4116 PUBLIC LAW 111–377—JAN. 4, 2011 1 under this subclause, as increased by the percentage increase equal to the most recent percentage increase determined under section 3015(h), multiplied by— ‘‘(ii) either— ‘‘(I) in the case of an individual entitled to educational assistance by reason of paragraphs (1), (2), or (9) of section 3311(b), 100 percent; or ‘‘(II) in the case of an individual entitled to educational assistance by reason of paragraphs (3) through (8) of section 3311(b), the same percentage as would otherwise apply to the monthly amounts payable to the individual under paragraphs (2) through (7) of subsection (c). ‘‘(D) In the case of an individual enrolled in a program of education that is pursued exclusively by correspondence (regardless of the institution providing such program of education), an amount equal to— ‘‘(i) the lesser of— ‘‘(I) the actual net cost for tuition and fees assessed by the institution concerned for the pro- gram of education after the application of— ‘‘(aa) any waiver of, or reduction in, tuition and fees; and ‘‘(bb) any scholarship, or other Federal, State, institutional, or employer-based aid or assistance (other than loans and any funds provided under section 401(b) of the Higher Education Act of 1965) that is provided directly to the institution and specifically des- ignated for the sole purpose of defraying tui- tion and fees. ‘‘(II) the amount equal to— ‘‘(aa) for the academic year beginning on August 1, 2011, $8,500; or ‘‘(bb) for an academic year beginning on any subsequent August 1, the amount for the previous academic year beginning on August 1 under this subclause, as increased by the percentage increase equal to the most recent percentage increase determined under section 3015(h), multiplied by— ‘‘(ii) either— ‘‘(I) in the case of an individual entitled to educational assistance by reason of paragraphs (1), (2), or (9) of section 3311(b), 100 percent; or ‘‘(II) in the case of an individual entitled to educational assistance by reason of paragraphs (3) through (8) of section 3311(b), the same percentage as would otherwise apply to the monthly amounts payable to the individual under paragraphs (2) through (7) of subsection (c). ‘‘(4) FREQUENCY OF PAYMENT.— ‘‘(A) QUARTER, SEMESTER, OR TERM PAYMENTS.—Pay- ment of the amounts payable under paragraph (3)(A)(i) for pursuit of a program of education shall be made for
