42 U.S. Code § 2755 - Flexible use of funds
An eligible institution may, upon the request of a student, make payments to the student under this part by crediting the student’s account at the institution or by making a direct deposit to the student’s account at a depository institution. An eligible institution may only credit the student’s account at the institution for (1) tuition and fees, (2) in the case of institutionally owned housing, room and board, and (3) other institutionally provided goods and services.
Section was originally enacted as section 125 of the Economic Opportunity Act of 1964, Pub. L. 88–452, title I, Aug. 20, 1964, 78 Stat. 516. As such, it had been amended by Pub. L. 89–329, title IV, § 441(6), Nov. 8, 1965, 79 Stat. 1250, and renumbered section 145 by Pub. L. 90–222, title I, § 111(a), Dec. 23, 1967, 81 Stat. 726.
Under Pub. L. 90–575, title I, § 131(a), Oct. 16, 1968, 82 Stat. 1028, section was transferred along with the remainder of Part C of title I of the Economic Opportunity Act of 1964, Pub. L. 88–452, and inserted as Part C of title IV of the Higher Education Act of 1965, Pub. L. 89–329. Former Part C of title IV of Pub. L. 89–329, as originally enacted, comprising sections 441 and 442 thereof, was struck out to accommodate the transferal but the amendment of this section by section 441(6) of Pub. L. 89–329 has not been struck out.
2008—Subsec. (d). Pub. L. 110–315 added subsec. (d).
1998—Subsec. (c). Pub. L. 105–244 added subsec. (c).
1992—Subsec. (b). Pub. L. 102–325 designated existing provisions as par. (1) and added par. (2).
1986—Pub. L. 99–498 amended section generally, substituting provisions relating to flexible use of funds for provisions relating to sources of matching funds.