No part B institution shall be entitled to its allotment of Federal funds for any grant under section
1063 of this title for any period unless that institution meets the requirements of subparagraphs (C), (D), and (E) [1] of section
1058(b)(1) of this title and submits an application to the Secretary at such time, in such manner, and containing or accompanied by such information, as the Secretary may reasonably require. Each such application shall—
(1)provide that the payments under this chapter and part
C of subchapter
I of chapter
34 of title
42 will be used for the purposes set forth in section
1062 of this title; and
(2)provide for making an annual report to the Secretary and provide for—
(A)conducting, except as provided in subparagraph (B), a financial and compliance audit of an eligible institution, with regard to any funds obtained by it under this subchapter at least once every 2 years and covering the period since the most recent audit, conducted by a qualified, independent organization or person in accordance with standards established by the Comptroller General for the audit of governmental organizations, programs, and functions, and as prescribed in regulations of the Secretary, the results of which shall be submitted to the Secretary; or
(B)with regard to an eligible institution which is audited under chapter
75 of title
31 deeming such audit to satisfy the requirements of subparagraph (A) for the period covered by such audit.
(b) Approval
The Secretary shall approve any application which meets the requirements of subsection (a) of this section and shall not disapprove any application submitted under this part, or any modification thereof, without first affording such institution reasonable notice and opportunity for a hearing.
(c) Goals for financial management and academic programs
Any application for a grant under this part shall describe measurable goals for the institution’s financial management and academic programs and include a plan of how the applicant intends to achieve those goals.
No part B institution shall be entitled to its allotment of Federal funds for any grant under section
1063 of this title for any period unless that institution meets the requirements of subparagraphs (C), (D), and (E) [1] of section
1058(b)(1) of this title and submits an application to the Secretary at such time, in such manner, and containing or accompanied by such information, as the Secretary may reasonably require. Each such application shall—
(1)provide that the payments under this chapter and part
C of subchapter
I of chapter
34 of title
42 will be used for the purposes set forth in section
1062 of this title; and
(2)provide for making an annual report to the Secretary and provide for—
(A)conducting, except as provided in subparagraph (B), a financial and compliance audit of an eligible institution, with regard to any funds obtained by it under this subchapter at least once every 2 years and covering the period since the most recent audit, conducted by a qualified, independent organization or person in accordance with standards established by the Comptroller General for the audit of governmental organizations, programs, and functions, and as prescribed in regulations of the Secretary, the results of which shall be submitted to the Secretary; or
(B)with regard to an eligible institution which is audited under chapter
75 of title
31 deeming such audit to satisfy the requirements of subparagraph (A) for the period covered by such audit.
(b) Approval
The Secretary shall approve any application which meets the requirements of subsection (a) of this section and shall not disapprove any application submitted under this part, or any modification thereof, without first affording such institution reasonable notice and opportunity for a hearing.
(c) Goals for financial management and academic programs
Any application for a grant under this part shall describe measurable goals for the institution’s financial management and academic programs and include a plan of how the applicant intends to achieve those goals.
1987—Subsec. (a)(1). Pub. L. 100–50substituted “section
1062 of this title” for “section
1061 of this title”.
Effective Date of 1992 Amendment
Amendment by Pub. L. 102–325effective Oct. 1, 1992, see section 2 ofPub. L. 102–325, set out as a note under section
1001 of this title.
Effective Date of 1987 Amendment
Amendment by Pub. L. 100–50effective as if enacted as part of the Higher Education Amendments of 1986, Pub. L. 99–498, see section 27 ofPub. L. 100–50, set out as a note under section
1001 of this title.
The table below lists the classification updates, since Jan. 3, 2012, for this section. Updates to a broader range of sections may be found at the update page for containing chapter, title, etc.
The most recent Classification Table update that we have noticed was Friday, May 3, 2013
An empty table indicates that we see no relevant changes listed in the classification tables. If you suspect that our system may be missing something, please double-check with the Office of the Law Revision Counsel.
20 USC
Description of Change
Session Year
Public Law
Statutes at Large
This is a list of parts within the Code of Federal Regulations for which this US Code section provides rulemaking authority.
It is not guaranteed to be accurate or up-to-date, though we do refresh the database weekly. More limitations on accuracy are described at the GPO site.
LII has no control over and does not endorse any external Internet site that contains links to or references LII.