33 U.S.C. § 1262: Definitions and authorizations

The term “institution of higher education” means an educational institution described in the first sentence of section 1001 of title 20 (other than an institution of any agency of the United States) which is accredited by a nationally recognized accrediting agency or association approved by the Administrator for this purpose. For purposes of this subsection, the Administrator shall publish a list of nationally recognized accrediting agencies or associations which he determines to be reliable authority as to the quality of training offered. The term “academic year” means an academic year or its equivalent, as determined by the Administrator. The Administrator shall annually report his activities under sections 1259 through 1262 of this title, including recommendations for needed revisions in the provisions thereof. There are authorized to be appropriated $25,000,000 per fiscal year for the fiscal years ending June 30, 1973 , June 30, 1974 , and June 30, 1975 , $6,000,000 for the fiscal year ending September 30, 1977 , $7,000,000 for the fiscal year ending September 30, 1978 , $7,000,000 for the fiscal year ending September 30, 1979 , $7,000,000 for the fiscal year ending September 30, 1980 , $7,000,000 for the fiscal year ending September 30, 1981 , $7,000,000 for the fiscal year ending September 30, 1982 , such sums as may be necessary for fiscal years 1983 through 1985, and $7,000,000 per fiscal year for each of the fiscal years 1986 through 1990, to carry out sections 1259 through 1262 of this title.