[Code of Federal Regulations]

[Title 42, Volume 1]

[Revised as of October 1, 2005]

From the U.S. Government Printing Office via GPO Access

[CITE: 42CFR57.204]



[Page 265-266]

 

                         TITLE 42--PUBLIC HEALTH

 

    CHAPTER I--PUBLIC HEALTH SERVICE, DEPARTMENT OF HEALTH AND HUMAN 

                                SERVICES

 

PART 57_GRANTS FOR CONSTRUCTION OF TEACHING FACILITIES, EDUCATIONAL 

IMPROVEMENTS, SCHOLARSHIPS AND STUDENT LOANS--Table of Contents

 

               Subpart C_Health Professions Student Loans

 

Sec. 57.204  Payment of Federal capital contributions and reallocation 

of funds remitted to the Secretary.



    (a) Annual payment. The Secretary will make payments to each school 

with which he or she has entered into an agreement under the Act at a 

time determined by him or her. If the total of the amounts requested for 

any fiscal year by all schools for Federal capital contributions exceeds 

the amount of Federal funds determined by the Secretary at the time of 

payment to be available for this purpose, the payment to each school 

will be reduced to whichever is smaller:

    (1) The amount requested in the application, or

    (2) An amount which bears the same ratio to the total amount of 

Federal funds determined by the Secretary at the time of payment to be 

available for that fiscal year for the Health Professions Student Loan 

Program as the number of full-time students estimated by the Secretary 

to be enrolled in that school bears to the estimated total number of 

full-time students in all participating schools during that year. 

Amounts remaining after these payments are made will be distributed in 

accordance with this paragraph among schools whose applications 

requested more than the amount paid to them, but with whatever 

adjustments that may be necessary to prevent the total paid to any 

school from exceeding the total requested by it.

    (b) Method of payment. The payment of Federal capital contributions 

to a school will be paid in a manner that avoids unnecessary 

accumulations of money in any health professions student loan fund.

    (c) Reallocation of funds remitted to the Secretary. All funds from 

a student loan fund established under this subpart which are remitted to 

the Secretary in any fiscal year shall be available for allotment under 

this subpart, in the



[[Page 266]]



same fiscal year and the succeeding fiscal year, to schools which, 

during the period beginning on July 1, 1972, and ending on September 30, 

1985, established student loan funds with Federal capital contributions 

under this subpart. The Secretary will from time to time set dates by 

which the schools must file applications to receive a portion of these 

funds. If the total of the amounts requested for any fiscal year by 

eligible schools exceeds the amount of funds determined by the Secretary 

at the time of payment to be available for this purpose, the payment to 

each school will be reduced to whichever is smaller:

    (1) The amount requested in the application, or

    (2) An amount which bears the same ratio to the total amount of 

returned funds determined by the Secretary at the time of payment to be 

available for that fiscal year for the Health Professions Student Loan 

program as the number of full-time students estimated by the Secretary 

to be enrolled in that school bears to the estimated total number of 

full-time students in all eligible schools during that year.



Amounts remaining after these payments are made will be distributed in 

accordance with this paragraph among schools whose applications 

requested more than the amount paid to them, with whatever adjustments 

may be necessary to prevent the total paid to any school from exceeding 

the total requested by it.



[44 FR 29055, May 18, 1979, as amended at 53 FR 46549, Nov. 17, 1988; 56 

FR 19293, Apr. 26, 1991]