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Additional Funding for Scholarships at 1890 Institutions

The bill rescinds unobligated balances (or $100 million, whichever is less) from the American Rescue Plan Act and appropriates an equivalent amount for scholarships at 1890 institutions. It extends funding availability to fiscal year 2024 and beyond until the funds are obligated, mandating that at least $10 million be made available annually. Administrative expenses are capped at 4% of available funds.
Key points
Reallocates up to $100 million (or the remaining balance) for scholarships at 1890 institutions.
Mandates at least $10 million be made available annually starting fiscal year 2024 until funds are obligated.
Caps administrative costs at 4% of available funds.
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Additional Information
To provide additional funding for scholarships for students at 1890 institutions.
Print number: HR 4252
Sponsor: Rep. Scott, David [D-GA-13]
Process start date: 2021-06-30