12 2 STA T .34 14 PUBLIC LA W 11 0– 31 5— AU G .14 , 200 8‘ ‘ (2)FOUR-YEA R INST ITUTIONS .—Ani n st it u ti o no fh i g h er e d u ca tion that p ro v ides a progra m of instruction for w hich it awards a b ache l or ’ s degree complies with the re q uirements of this paragraph if— ‘‘(A) for a public institution of higher education , such institution’s tuition and fees are in the lowest quartile of institutions in the same categor y as described under subsection (b)
or ‘‘( B ) for any institution of higher education, such institution guarantees that for any academic year (or the equivalent) beginning on or after J uly 1 ,2 0 0 9 , and for each of the four succeeding continuous academic years, the tuition and fees charged to an undergraduate student will not e x ceed— ‘‘(i) for a public institution of higher education, $6 00 per year for a full-time undergraduate student; or ‘‘(ii) for any other institution of higher education— ‘‘( I ) the amount that the student was charged for an academic year at the time the student first enrolled in the institution of higher education, plus ‘‘(II) the percentage change in tuition and fees at the institution for the three most recent aca- demic years for which data is available, multiplied by the amount determined under subclause (I). ‘‘( 3 ) L ESS-T H AN F OUR-YEAR INSTITUTIONS.—An institution of higher education that does not provide a program of instruc- tion for which it awards a bachelor’s degree complies with the requirements of this paragraph if— ‘‘(A) for a public institution of higher education, such institution’s tuition is in the lowest quartile of institutions in the same category as described under subsection (b); or ‘‘(B) for any institution of higher education, such institution guarantees that for any academic year (or the equivalent) beginning on or after July 1, 2009, and for each of the 1. 5 succeeding continuous academic years, the tuition and fees charged to an undergraduate student will not exceed— ‘‘(i) for a public institution of higher education, $600 per year for a full-time undergraduate student; or ‘‘(ii) for any other institution of higher education— ‘‘(I) the amount that the student was charged for an academic year at the time the student first enrolled in the institution of higher education, plus ‘‘(II) the percentage change in tuition and fees at the institution for the three most recent aca- demic years for which data is available, multiplied by the amount determined under subclause (I). ‘‘(d) D EFINITIONS.—In this section, the terms ‘tuition and fees’ and ‘net price’ have the meaning given to such terms in section 132 of this Act. ‘‘(e) AUTHORI Z ATION.— T here are authori z ed to be appropriated to carry out this section such sums as may be necessary for fiscal year 2009 and each of the five succeeding fiscal years.
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