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The statute thus mandates that room and board expenses are
limited to the minimum amount as determined in the “cost of
attendance”, as defined in the Higher Education Act of 1965, Pub.
L. 89-329, 79 Stat. 1219, as amended by the Higher Education
Amendments of 1986, Pub. L. 99-498, sec. 406 (adding sec. 472 to
the Higher Education Act of 1965), 100 Stat. 1454, codified at 20
U.S.C. sec. 108711(3) (Supp. IV 1998), as in effect on the date
of the enactment of this paragraph.10
Section 529(e)(3) was added by the Taxpayer Relief Act of
1997, Pub. L. 105-34, sec. 211(a), 111 Stat. 810. This
paragraph, however, was effective as if it were included in the
amendments to the Small Business Job Protection Act of 1996, Pub.
L. 104-188, sec. 1806, 110 Stat. 1895, which enacted section 529.
Accordingly, our analysis must be guided by 20 U.S.C. sec.
1087ll(3) (1998), as in effect on August 20, 1996, the effective
date of section 529(e)(3).
As of August 20, 1996, and as applicable to the issue in
this case, the term “cost of attendance” was defined as:
10 The Higher Education Act of 1965, Pub. L. 89-329, 79
Stat. 1219, 20 U.S.C. sec. 108711(3) (1994) was first enacted on
Nov. 8, 1965, to strengthen college and university resources and
to provide financial assistance to students in postsecondary and
higher education. As relevant herein, the Higher Education
Amendments of 1986, Pub. L. 99-498, sec. 406, 100 Stat. 1454, 20
U.S.C. sec. 108711(3) (Supp. IV 1998) added sec. 472 to the
Higher Education Act of 1965. The purpose of this section was to
define “cost of attendance” in determining a student’s financial
need for student financial aid assistance.
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