GroundRules
34 CFR 628.44: When and for what purposes may a grantee use the endowment fund corpus?
Where this section sits in the code
- Title 34—Education
- Subtitle B—Regulations of the Offices of the Department of Education
- CHAPTER VI—OFFICE OF POSTSECONDARY EDUCATION, DEPARTMENT OF EDUCATION
- PART 628—ENDOWMENT CHALLENGE GRANT PROGRAM
- Subpart E—What Conditions Must a Grantee Meet Under the Endowment Challenge Grant Program?
(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all or part of the endowment fund corpus, it must repay to the Secretary an amount equal of 50 percent of the amount withdrawn or spent plus the income earned on that amount.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.
Collected 2026-08-27T02:25:40Z. Source file · JSON