Allocation of funds

From the amount so appropriated, the Secretary shall next allocate to each eligible institution that began participation in the program under this subpart after fiscal year 1999 but is not a first or second time participant, an amount equal to the greater of— From the amount so appropriated, the Secretary shall next allocate to each eligible institution that began participation in the program under this subpart after fiscal year 1999 and is a first or second time participant, an amount equal to the greatest of— Notwithstanding subparagraphs (A) and (B) of this paragraph, the Secretary shall allocate to each eligible institution which— If the amount appropriated for any fiscal year is more than the amount required to be allocated to all institutions under paragraph (1) but less than the amount required to be allocated to all institutions under paragraph (2), then— For any eligible institution, the excess eligible amount is the amount, if any, by which— The amount of an institution’s need is equal to— To determine the need of an institution’s eligible undergraduate students, the Secretary shall— The Secretary shall, from time to time, set dates before which institutions must file applications for allocations under this part.