[Code of Federal Regulations]
[Title 34, Volume 3]
[Revised as of July 1, 2004]
From the U.S. Government Printing Office via GPO Access
[CITE: 34CFR607.23]

[Page 242]
 
                           TITLE 34--EDUCATION
 
 CHAPTER VI--OFFICE OF POSTSECONDARY EDUCATION, DEPARTMENT OF EDUCATION
 
PART 607_STRENGTHENING INSTITUTIONS PROGRAM--Table of Contents
 
             Subpart C_How Does the Secretary Make an Award?
 
Sec. 607.23  What special funding consideration does the Secretary provide?

    (a) If funds are available to fund only one additional planning 
grant and each of the next fundable applications has received the same 
number of points under Sec. 607.21, the Secretary awards additional 
points, up to a maximum of two points, to any of those applicants that--
    (1) Has an endowment fund of which the current market value, per 
full-time equivalent enrolled student, is less than the average current 
market value of the endowment funds, per full-time equivalent enrolled 
student, at similar type institutions; (one point) or
    (2) Has expenditures for library materials per full-time equivalent 
enrolled student which is less than the average expenditure for library 
materials per full-time equivalent enrolled student at similar type 
institutions. (one point)
    (b) If funds are available to fund only one additional development 
grant and each of the next fundable applications has received the same 
number of points under Sec. 607.22, the Secretary will award additional 
points, up to a maximum of three points, to any of those applicants 
that--
    (1) Has an endowment fund of which the current market value, per 
full-time equivalent enrolled student, is less than the average current 
market value of the endowment funds, per full-time equivalent enrolled 
student, at comparable institutions that offer similar instruction; (one 
point)
    (2) Has expenditures for library materials per full-time equivalent 
enrolled student which are less than the average expenditures for 
library materials per full-time equivalent enrolled student at 
comparable institutions that offer similar instruction (one point); or
    (3) Propose to carry out one or more of the following activities--
    (i) Faculty development;
    (ii) Funds and administrative management;
    (iii) Development and improvement of academic programs;
    (iv) Acquisition of equipment for use in strengthening management 
and academic programs;
    (v) Joint use of facilities; and
    (vi) Student services. (one point)
    (c) As used in this section, an endowment fund does not include any 
fund established or supported under 34 CFR part 628.
    (d) Each year, the Secretary provides prospective applicants with 
the average expenditure of endowment funds and library materials per 
full-time equivalent student.

(Authority: 20 U.S.C. 1057 et seq.)

[52 FR 30529, Aug. 14, 1987, as amended at 59 FR 41925, Aug. 15, 1994; 
60 FR 15447, Mar. 23, 1995; 64 FR 70155, Dec. 15, 1999]