participation by new colleges and certain public vocational and technical institutions

participation by new colleges and certain public vocational and technical institutions Sec. 603. Clause (1) of section 404(b) of the Housing Act of 1950 is amended to read as follows: “(1)(A) any educational institution which offers, or provides satisfactory assurance to the Administrator that it will offer within a reasonable time after completion of a facility for which assistance is requested under this title, at least a two-year program acceptable for full credit toward a baccalaureate degree (including any public educational institution, or any private educational institution no part of the net earnings of which inures to the benefit of any private shareholder or individual), or (B) any public educational institution which (i) is administered by a college or university which is accredited by a nationally recognized accrediting agency or association, (ii) offers technical or vocational instruction, and (lii) provides residential facilities for some or all of the students receiving such instruction,”.