20 U.S.C. § 1051: Findings and purpose

there are a significant number of institutions of higher education serving high percentages of minority students and students from low-income backgrounds, that face problems that threaten their ability to survive; the problems relate to the management and fiscal operations of certain institutions of higher education, as well as to an inability to engage in long-range planning and development activities, including endowment building; in order to be competitive and provide a high-quality education for all, institutions of higher education should improve their technological capacity and make effective use of technology; the subchapter III program prior to 1985 did not always meet the specific development needs of historically Black colleges and universities and other institutions with large concentrations of minority, low-income students; the solution of the problems of these institutions would enable them to become viable, fiscally stable and independent, thriving institutions of higher education; providing assistance to eligible institutions will enhance the role of such institutions in providing access and quality education to low-income and minority students; these institutions play an important role in the American system of higher education, and there is a strong national interest in assisting them in solving their problems and in stabilizing their management and fiscal operations, and in becoming financially independent; and there is a particular national interest in aiding those institutions of higher education that have historically served students who have been denied access to postsecondary education because of race or national origin and whose participation in the American system of higher education is in the Nation’s interest so that equality of access and quality of postsecondary education opportunities may be enhanced for all students. It is the purpose of this subchapter to assist such institutions in equalizing educational opportunity through a program of Federal assistance. Except as otherwise provided therein or in subsection (b) of this section, the amendments made by section 2 of this Act [see Tables for classification] shall be effective as if such amendments were included in the Higher Education Amendments of 1992 ( Public Law 102–325 ), except that section 492 of the Act [ section 1098a of this title ] shall not apply to the amendments made by this Act [see Tables for classification]. The amendments made by the following subsections of section 2 of this Act shall be effective on and after October 1, 1993 : (b)(29), (j)(28), (j)(36), and (j)(40) [amending sections 1070d–34, 1134e, 1134j, and 1134q of this title]. The amendments made by the following subsections of section 2 of this Act shall be effective on and after the date of enactment of this Act [ Dec. 20, 1993 ]: (b)(2), (b)(7), (b)(28), (c)(3), (c)(5), (c)(13)(B), (c)(13)(C), (c)(18), (c)(30), (c)(62) [amending sections 1070a, 1070a–11, 1070d–33, 1075, 1077a, 1078, 1078–1, and 1085 of this title]. The amendments made by the following subsections of section 2 of this Act shall be effective on and after 30 days after the date of enactment of this Act [ Dec. 20, 1993 ]: (c)(19), (c)(20), (c)(21), (c)(59) [amending sections 1078 and 1085 of this title]. The amendments made by the following subsections of section 2 of this Act shall be effective on and after 60 days after the date of enactment of this Act [ Dec. 20, 1993 ]: (c)(31) and (c)(53) [amending sections 1078–1 and 1083 of this title]. The amendments made by section 2(c)(43)(B) of this Act [amending section 1078–8 of this title ] shall be effective on and after April 1, 1994 . The amendments made by the following subsection[s] of section 2 of this Act shall be effective on and after July 1, 1994 : (b)(25), (c)(2), (c)(13)(A), (c)(29) [amending sections 1070b–2, 1075, 1078, and 1078–1 of this title]. The amendment made by section 2(c)(60)(A) [amending section 1085 of this title ] shall be effective on and after October 1, 1994 . The amendments made to subsection[s] (a)(3) and (m)(1)(B) of section 435 of this [the] Act [section 1085(a)(3) and (m)(1)(B) of this title] shall apply with respect to the determination (and appeals from determinations) of cohort default rates for fiscal year 1989 and any succeeding fiscal year.”