34 CFR 628.44
§ 628.44 When and for what purposes may a grantee use the endowment fund corpus?
United States · 34 CFR — Education · Status: effective
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- Citation
- 34 CFR 628.44, § 628.44 When and for what purposes may a grantee use the endowment fund corpus?, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/157017
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Full text
(a)(1) During the grant period, a grantee may not withdraw or spend any part of the endowment fund corpus.
(2) If, during the grant period, a grantee withdraws or spends all or part of the endowment fund corpus, it must repay to the Secretary an amount equal of 50 percent of the amount withdrawn or spent plus the income earned on that amount.
(b) At the end of the grant period, the institution may use the endowment fund corpus for any educational purpose.
Legislative history
This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.