§1095. Transfer of allotments
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 1 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.
(Pub. L. 89–329, title IV, §488, as added
Pub. L. 99–498, title IV, §407(a), Oct. 17, 1986, 100 Stat. 1490
; amended
Pub. L. 100–50, §15(14), June 3, 1987, 101 Stat. 357
;
Pub. L. 102–325, title IV, §492, July 23, 1992, 106 Stat. 630
;
Pub. L. 110–315, title IV, §494A, Aug. 14, 2008, 122 Stat. 3319
.)
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 Amendment
Amendment 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 Amendment
Amendment 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.