94 STAT. 1394
PUBLIC LAW 96-374—OCT. 3, 1980 "(ii) except as provided in section 342(a), the average educational and general expenditures of which are low, per full-time equivalent undergraduate student, in comparison with the average educational and general expenditures per full-time equivalent undergraduate student of institutions that offer similar instruction;
- '(iii)(I) is legally authorized to provide, and provides
within the State, an educational program for which it awards a bachelor's degree, or (II) is a junior or community college; "(iv) is accredited by a nationally recognized accrediting agency or association determined by the Secretary to be reliable authority as to the quality of training offered or is, according to such an agency or association, making reasonable progress toward accreditation; "(v) except as provided in section 342(b) has, during the five academic years preceding the academic year for which it seeks assistance under this part— "(I) met the requirement of either clause (iii)(I) or (iii)(II), or of both such clauses (simultaneously or consecutively); and "(II) met the requirement of clause (iv); "(vi) has an enrollment of not less than 100 full-time equivalent students in the academic year for which the determination is made; and "(vii) meets such other requirements as the Secretary may prescribe; or "(B) any branch of any institution of higher education described under subparagraph (A) which by itself satisfies the requirements contained in clauses (i), (ii), and (vi) of such subparagraph and which is located in a community different from that in which its parent institution is located. For purposes of the determination of whether an institution is an eligible institution under this paragraph, the factor described under subparagraph (A)(i) shall be given the same weight as the factor described under subparagraph (A)(ii), and the Secretary may also consider the factors specified under subsection O> of t) this section. "(3) The term 'full-time equivalent students' means the sum of the number of students enrolled full time at an institution, plus the full-time equivalent of the number of students enrolled part time at such institution (determined on the basis of the quotient of the sum of the credit hours of all part-time students divided by twelve). "(4) The term 'junior or community college' means an institution of higher education— "(A) that admits as regular students persons who are beyond the age of compulsory school attendance in the State in which the institution is located and who have the ability to benefit from the training offered by the institution; "(B) that does not provide an educational program for which it awards a bachelor's degree (or an equivalent degree); and "(C) that— "(i) provides an educational program of not less than two years that is acceptable for full credit toward such a degree, or
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