§1095 — Title 20 Education | U.S. Code

Summary

Allows a school to move up to 25 percent of its funds between three specific federal allotments: section 1087bb, section 1070b–3, and section 1087–52. A school can transfer 25 percent from 1087bb to 1070b–3 or 1087–52 (or both); 25 percent from 1087–52 to 1070b–3 or 1087bb (or both); and 25 percent from 1070b–3 to 1087–52. Money moved this way can be used for the same purposes as the receiving allotment. The Secretary has no control over these transfers except where the law allows, although the Secretary may collect and share information about them.

Title 20, §1095

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In order to offer an arrangement of types of aid, including institutional and State aid which best fits the needs of each individual student, an institution may (1) transfer a total of 25 percent of the institutions 11 So in original. Probably should be “institution’s”. allotment under section 1087bb of this title to the institution’s allotment under section 1070b–3 or 1087–52 of this title (or both); (2) transfer 25 percent of the institution’s allotment under section 1087–52 of this title to the institution’s allotment under section 1070b–3 or 1087bb of this title (or both); and (3) transfer 25 percent of the institution’s allotment under section 1070b–3 of this title to the institution’s allotment under section 1087–52 of this title. Funds transferred to an institution’s allotment under another section may be used as a part of and for the same purposes as funds allotted under that section. The Secretary shall have no control over such transfer, except as specifically authorized, except for the collection and dissemination of information.

Notes & Related Subsidiaries

Editorial Notes

Prior Provisions

A prior section 1095, Pub. L. 89–329, title IV, § 488, as added Pub. L. 96–374, title IV, § 451(a), Oct. 3, 1980, 94 Stat. 1452, related to transfer of allotments, prior to the general revision of this part by Pub. L. 99–498.

Amendments

2008—Pub. L. 110–315 struck out “and” after semicolon in par. (1), substituted “section 1070b–3 or 1087bb of this title (or both); and” for “section 1070b–3 of this title.” in par. (2), and added par. (3). 1992—Pub. L. 102–325 inserted first two sentences and struck out former first sentence which read as follows: “Up to 10 percent of the allotment of an eligible institution for a fiscal year under section 1070b–3 or 1087–52 of this title, may be transferred to, and used for the purposes of, the institution’s allotment under the other section within the discretion of such institution in order to offer an arrangement of types of aid, including institutional and State aid, which best fits the needs of each individual student.” 1987—Pub. L. 100–50 substituted “or 1087–52” for “or 1087–56”.

Statutory Notes and Related Subsidiaries

Effective Date

of 1992 AmendmentAmendment by Pub. L. 102–325 to this section, relating to transfers of allotments, applicable with respect to funds provided for award years beginning on or after July 1, 1993, see section 498 of Pub. L. 102–325, set out as a note under section 1088 of this title.

Effective Date

of 1987 AmendmentAmendment by Pub. L. 100–50 effective as if enacted as part of the Higher Education

Amendments

of 1986, Pub. L. 99–498, see section 27 of Pub. L. 100–50, set out as a note under section 1001 of this title.

§1095 Transfer of Allotments

Summary

Title 20, §1095

Notes & Related Subsidiaries

Editorial Notes

Prior Provisions

Amendments

Statutory Notes and Related Subsidiaries

Effective Date

Effective Date

Amendments

Citations & Metadata