PRINTER'S NO. 1625
No. 1396 Session of 1971
INTRODUCED BY MR. M. P. MULLEN, JULY 28, 1971
REFERRED TO COMMITTEE ON APPROPRIATIONS, JULY 28, 1971
AN ACT
1 Making appropriations to the Pennsylvania Higher Education
2 Assistance Agency to provide scholarships and educational
3 assistance grants, to provide funds for lender participation
4 incentives, to provide funds for the purpose of assisting
5 approved institutions of higher learning in securing Federal
6 funds for financial aid to students, and to administer the
7 agency and otherwise carry out the provisions of the act of
8 August 7, 1963 (P.L.549) and the act of January 25, 1966
9 (P.L.1546).
10 The General Assembly of the Commonwealth of Pennsylvania
11 hereby enacts as follows:
12 Section 1. The following sums are hereby specifically
13 appropriated to the Pennsylvania Higher Education Assistance
14 Agency for the fiscal year July 1, 1971 to June 30, 1972 to be
15 transferred and deposited in the Higher Education Assistance
16 Fund for the following uses and purposes:
17 (1) For payment of scholarships and education
18 assistance grants under the provisions of the act
19 of January 25, 1966 (P.L.1546)................... $ 60,458,000
20 (2) For the purpose of administering the
21 programs of the agency authorized under the act
22 of August 7, 1963 (P.L.549) and the act of
1 January 25, 1966 (P.L.1546), including payment
2 of lender participation incentives............... 2,200,000
3 (3) For the purpose of assisting approved
4 institutions of higher learning in securing
5 and obtaining maximum participation in Federal
6 student aid funds to be used as financial aid to
7 students in meeting their costs of attendance at
8 such institutions under the provisions of the act
9 of January 25, 1966 (P.L.1546)................... 2,000,000
10 (4) For the purpose of being held in reserve
11 to guarantee loans granted and for payment of
12 possible losses of such loans granted........... 2,000,000
13 Section 2. This act shall take effect July 1, 1971.
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