Flexible use of funds

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Section 445 of the Higher Education Act of 1965 (20 U.S.C. 1087–55) is amended— (1) in subsection (a), by adding at the end the following: (3) In addition to the carry-over sums authorized under paragraph (1), an institution may permit a student who completed the previous award period to continue to earn unearned portions of the student’s work-study award from that previous period if— (A) any reduction in the student’s need on which the award was based is accounted for in the remaining portion; and (B) the student is currently employed in a work-based learning position.; and (2) by striking 10 percent both places it appears and inserting 20 percent.