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Citations: (R)652.4 AsOfDate: 12/31/95 In what amounts are scholarships awarded? (a) Except as provided in paragraphs (b) and (c) of this section, the amount of a scholarship awarded under this part for a full-time student for any academic year is $5,000. (b) The Secretary reduces the scholarship amount awarded under this part by the amount that the scholarship would otherwise exceed the Scholar's cost of attendance, as defined in section 472 of the Higher Education Act of 1965, as amended. (c) In the event that funds available in a fiscal year are insufficient to fund fully each award under this part, the Secretary reduces proportionately each scholarship and the amount paid to each Scholar. (Authority: 20 U.S.C. 5385) |