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U.S. Code as of:
01/19/04
Section 1096. Administrative expenses
(a) Amount of payments
From the sums appropriated for any fiscal year for the purpose of
the program authorized under subpart 1 of part A of this
subchapter, the Secretary shall reserve such sums as may be
necessary to pay to each institution with which he has an agreement
under section 1094 of this title, an amount equal to $5 for each
student at that institution who receives assistance under subpart 1
of part A of this subchapter. In addition, an institution which has
entered into an agreement with the Secretary under subpart 3 of
part A of this subchapter or part C of subchapter I of chapter 34
of title 42, or under part D of this subchapter shall be entitled
for each fiscal year which such institution disburses funds to
eligible students under any such part to a payment for the purpose
set forth in subsection (b) of this section. The payment for a
fiscal year shall be payable from each such allotment by payment in
accordance with regulations of the Secretary and shall be equal to
5 percent of the institution's first $2,750,000 of expenditures
plus 4 percent of the institution's expenditures greater than
$2,750,000 and less than $5,500,000, plus 3 percent of the
institution's expenditures in excess of $5,500,000 during the
fiscal year from the sum of its grants to students under subpart 3
of part A of this subchapter, its expenditures during such fiscal
year under part C of subchapter I of chapter 34 of title 42 for
compensation of students, and the principal amount of loans made
during such fiscal year from its student loan fund established
under part D of this subchapter, excluding the principal amount of
any such loans which the institution has agreed to assign under
section 1087cc(a)(6)(B) (!1) of this title. In addition, the
Secretary shall provide for payment to each institution of higher
education an amount equal to 100 percent of the costs incurred by
the institution in implementing and operating the immigration
status verification system under section 1091(h) (!1) of this
title.
(b) Purpose of payments
(1) The sums paid to institutions under this part are for the
sole purpose of offsetting the administrative costs of the programs
described in subsection (a) of this section.
(2) If the institution enrolls a significant number of students
who are (A) attending the institution less than full time, or (B)
independent students, the institution shall use a reasonable
proportion of the funds available under this section for financial
aid services during times and in places that will most effectively
accommodate the needs of such students.
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