statement of purpose and appropriations authorized

statement of purpose and appropriations authorized Sec. 301. (a) The purpose of this title is to assist in raising the academic quality of colleges which have the desire and potential to make a substantial contribution to the higher education resources of our Nation but which for financial and other reasons are struggling for survival and are isolated from the main currents of academic life, and to do so by enabling the Commissioner to establish a national teaching fellow program and to encourage and assist in the establishment of cooperative arrangements under which these colleges may draw on the talent and experience of our finest colleges and universities, and on the educational resources of business and industry, in their effort to improve their academic quality. (b) (1) There is authorized to be appropriated the sum of $55,000,000 for the fiscal year ending June 30, 1966, to carry out the provisions of this title. (2) Of the sums appropriated pursuant to this section for any fiscal year, 78 per centum shall be available only for carrying out the provisions of this title with respect to developing institutions which plan to award one or more bachelor’s degrees during such year. (3) The remainder of the sums so appropriated shall be available only for carrying out the provisions of this title with respect, to developing institutions which do not plan to award such a degree during such year.