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LegalText 20 U.S.C. § 1070b4 Carryover and carryback authority us united_states_code code_section 20 EDUCATION 28 HIGHER EDUCATION RESOURCES AND STUDENT ASSISTANCE 1070b4 20 U.S.C. § 1070b4 current 119-100 2026-06-26 official https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc20@119-100.zip /us/usc/t20/s1070b4 data/legal/raw/us/code/title-20/usc20.xml f44bc0f5a720d0b08018cb75f1e23caae029c05e8089b776856f1221a2690837 6022872c5d6a3398d1728f82f8cefcb58db9f5ff548e2a636450be1e4a8bb052 e5855fc8bb4f2a71025f82cef1615636bb0f302af78dc3e082784919175f1f64 2026-07-04 official
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20 U.S.C. § 1070b4 - Carryover and carryback authority

Text

(a) Carryover authority Of the sums made available to an eligible institution under this subpart for a fiscal year, not more than 10 percent may, at the discretion of the institution, remain available for expenditure during the succeeding fiscal year to carry out the program under this subpart.

(b) Carryback authority (1) In general Of the sums made available to an eligible institution under this subpart for a fiscal year, not more than 10 percent may, at the discretion of the institution, be used by the institution for expenditure for the fiscal year preceding the fiscal year for which the sums were appropriated.

(2) Use of carried-back funds An eligible institution may make grants to students after the end of the academic year, but prior to the beginning of the succeeding fiscal year, from such succeeding fiscal years appropriations.

(Pub. L. 89329, title IV, § 413E, as added Pub. L. 105244, title IV, § 406(d), Oct. 7, 1998, 112 Stat. 1665.)

Notes

Statutory Notes and Related Subsidiaries

Effective DateSection effective Oct. 1, 1998, except as otherwise provided in Pub. L. 105244, see section 3 of Pub. L. 105244, set out as an Effective Date of 1998 Amendment note under section 1001 of this title.