DISBURSEMENT OF EDUCATIONAL AWARDS.

SEC. 1405. DISBURSEMENT OF EDUCATIONAL AWARDS. Section 148 (42 U.S.C. 12604) is amended—(1) by striking the section heading and inserting the following:123 STAT. 1516 “SEC. 148. DISBURSEMENT OF EDUCATIONAL AWARDS.” ;(2) in subsection (a)—(A) in paragraph (2), by striking “cost of attendance” and inserting “cost of attendance or other educational expenses”;(B) in paragraph (3), by striking “and”;(C) by redesignating paragraph (4) as paragraph (5); and(D) by inserting after paragraph (3) the following:“(4) to pay expenses incurred in enrolling in an educational institution or training establishment that is approved under chapter 36 of title 38, United States Code, or other applicable provisions of law, for offering programs of education, apprenticeship, or on-job training for which educational assistance may be provided by the Secretary of Veterans Affairs; and”;(3) in subsection (b)—(A) in paragraph (1), by inserting after “the national service educational award of the individual” the following: “, an eligible individual under section 146(a) who served in a summer of service program and desires to apply that individual’s summer of service educational award, or an eligible individual under section 146(a) who served in a silver scholar program and desires to apply that individual’s silver scholar educational award,”;(B) in paragraph (2), by inserting after “the national service educational award” the following: “, the summer of service educational award, or the silver scholar educational award, as applicable,”;(C) in paragraph (5), by inserting after “the national service educational award” the following: “, the summer of service educational award, or the silver scholar educational award, as applicable”; and(D) in paragraph (7)—(i) in subparagraph (A), by striking “and” at the end;(ii) in subparagraph (B), by striking the period and inserting “; and”; and(iii) by adding at the end the following:“(C) any loan (other than a loan described in subparagraph (A) or (B)) determined by an institution of higher education to be necessary to cover a student’s educational expenses and made, insured, or guaranteed by—“(i) an eligible lender, as defined in section 435 of the Higher Education Act of 1965 (20 U.S.C. 1085);“(ii) the direct student loan program under part D of title IV of such Act (20 U.S.C. 1087a et seq.);“(iii) a State agency; or“(iv) a lender otherwise determined by the Corporation to be eligible to receive disbursements from the National Service Trust.”;(4) in subsection (c)—(A) in paragraph (1), by inserting after “national service educational award” the following: “, an eligible individual under section 146(a) who desires to apply the individual’s summer of service educational award, or an eligible individual under section 146(a) who served in a 123 STAT. 1517 silver scholar program and desires to apply that individual’s silver scholar educational award,”;(B) in paragraph (2)—(i) in subparagraph (A), by inserting after “national service educational award” the following: “, summer of service educational award, or silver scholar educational award, as applicable,”; and(ii) in subparagraph (C)(iii), by inserting after “national service educational awards” the following: “, summer of service educational awards, or silver scholar educational awards, as applicable,”;(C) in paragraph (3), by inserting after “national service educational awards” the following: “summer of service educational awards, or silver scholar educational awards”;(D) in paragraph (5)—(i) in the first sentence, by inserting after “national service educational award” the following: “, summer of service educational award, or silver scholar educational award, as applicable,”; and(ii) in the third sentence, by inserting before the period the following: “, additional approved summer of service positions, and additional approved silver scholar positions”; and(E) in paragraph (6)—(i) in the matter preceding subparagraph (A), by inserting after “national service educational award” the following: “, summer of service educational award, or silver scholar educational award”;(ii) in subparagraph (A), by inserting “and other educational expenses” after “cost of attendance”; and(iii) by striking subparagraph (B) and inserting the following:“(B) the student’s estimated financial assistance for such period under part A of title IV of such Act (20 U.S.C. 1070 et seq.).”;(5) in subsection (d), by inserting after “national service educational awards” the following: “, summer of service educational awards, and silver scholar educational awards”;(6) in subsection (e), by striking “subsection (b)(6)” and inserting “subsection (b)(7)”;(7) in subsection (f)—(A) by striking “Director” and inserting “Chief Executive Officer”; and(B) by inserting “, summer of service educational award, or silver scholar educational award, as appropriate,” after “national service educational award”;(8) by redesignating subsections (f) and (g) as subsections (g) and (h) respectively; and(9) by inserting after subsection (e) the following:“(f) Transfer of Educational Awards.—“(1) In general.—An individual who is eligible to receive a national service educational award or silver scholar educational award due to service in a program described in paragraph (2) may elect to receive the award (in the amount described in the corresponding provision of section 147) and transfer the award to a designated individual. Subsections (b), 123 STAT. 1518 (c), and (d) shall apply to the designated individual in lieu of the individual who is eligible to receive the national service educational award or silver scholar educational award, except that amounts refunded to the account under subsection (c)(5) on behalf of a designated individual may be used by the Corporation to fund additional placements in the national service program in which the eligible individual who transferred the national service educational award or silver scholar educational award participated for such award.“(2) Conditions for transfer.—An educational award may be transferred under this subsection if—“(A)(i) the award is a national service educational award for service in a national service program that receives a grant under subtitle C; and“(ii) before beginning the term of service involved, the eligible individual is age 55 or older; or“(B) the award is a silver scholarship educational award under section 198C(a).“(3) Modification or revocation.—“(A) In general.—An individual transferring an educational award under this subsection may, on any date on which a portion of the educational award remains unused, modify or revoke the transfer of the educational award with respect to that portion.“(B) Notice.—A modification or revocation of the transfer of an educational award under this paragraph shall be made by the submission of written notice to the Corporation.“(4) Prohibition on treatment of transferred award as marital property.—An educational award transferred under this subsection may not be treated as marital property, or the asset of a marital estate, subject to division in a divorce or other civil proceeding.“(5) Death of transferor.—The death of an individual transferring an educational award under this subsection shall not affect the use of the educational award by the child, foster child, or grandchild to whom the educational award is transferred if such educational award is transferred prior to the death of the individual.“(6) Procedures to prevent waste, fraud, or abuse.—The Corporation shall establish requirements to prevent waste, fraud, or abuse in connection with the transfer of an educational award and to protect the integrity of the educational award under this subsection.“(7) Technical assistance.—The Corporation may, as appropriate, provide technical assistance, to individuals and eligible entities carrying out national service programs, concerning carrying out this subsection.“(8) Definition of a designated individual.—In this subsection, the term ‘designated individual’ is an individual—“(A) whom an individual who is eligible to receive a national service educational award or silver scholar educational award due to service in a program described in paragraph (2) designates to receive the educational award;“(B) who meets the eligibility requirements of paragraphs (3) and (4) of section 146(a); and123 STAT. 1519“(C) who is a child, foster child, or grandchild of the individual described in subparagraph (A).”.