AUTHORITY TO AWARD NEED-BASED AID.

SEC. 1544. AUTHORITY TO AWARD NEED-BASED AID. (a) Effect on Pending Cases Prohibited.— Nothing in this section shall in any way be construed to affect any antitrust litigation pending on the date of enactment of this Act. (b) In General.— Except as provided in subsections (a), (c), and (e), institutions of higher education may— (1) voluntarily agree with any other institution of higher education to award financial aid not awarded under the Higher Education Act of 1965 to students attending those institutions only on the basis of demonstrated financial need for such aid; and (2) discuss and voluntarily adopt defined principles of professional judgment for determining student financial need for aid not awarded under the Higher Education Act of 1965. (c) Exception.— Institutions of higher education shall not discuss or agree with each other on the prospective financial aid award to a specific common applicant for financial aid. (d) Related Matter.— No inference of unlawful contract, combination, or conspiracy shall be drawn from the fact that institutions of higher education engage in conduct authorized by this section. (e) Sunset Provision.— This section shall expire on September 30, 1994.