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Code of Federal Regulations (Last Updated: May 6, 2024) |
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Title 34 - Education |
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Subtitle B - Regulations of the Offices of the Department of Education |
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Chapter VI - Office of Postsecondary Education, Department of Education |
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Part 692 - Leveraging Educational Assistance Partnership Program |
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Subpart C - Grants for Access and Persistence Program |
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What Is the Amount of Assistance and How May It Be Used? |
§ 692.112 - May a State use the funds it receives from the GAP Program to pay administrative costs?
Latest version.
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§ 692.112 May a State use the funds it receives from the GAP Program to pay administrative costs?
(a) A State that receives an allotment under this subpart may reserve not more than two percent of the funds made available annually for State administrative functions required for administering the partnership and other program activities.
(b) A State must use not less than ninety-eight (98) percent of an allotment under this subpart to make LEAP Grants under GAP.