42 U.S.C. § 297d — Allotments and payments of Federal capital contributions

(a) Application for allotment; reduction or adjustment of amount requested; reallotment; continued availability of funds (1) The Secretary sets deadlines from time to time for nursing schools to apply for federal capital contributions. (2)(A) If, for a fiscal year, schools request more money in total than Congress appropriated under section 297c for that year, each school's allotment gets cut down to whichever is smaller: (i) the amount it asked for, or (ii) a share of the appropriated total based on that school's share of full-time nursing students, compared to all schools' full-time students, as the Secretary estimates. (B) Any money left over after that first round gets reallotted the same way — based on each school's share of full-time enrollment — among schools that had asked for more than they received, but adjusted so no school ends up getting more than it originally requested. (3) Money that gets returned to the Secretary in a given fiscal year — either under section 297e(c) or under a school's loan agreement — stays available to be allotted until it's used up. The Secretary decides how to allot that returned money in whatever way best serves this part. (b) Installment payment of allotments A school's allotment is paid to it over time, in installments, timed so the school's loan fund doesn't build up more money than it needs at once. (c) Manner of payment Federal capital contributions to a school's fund are likewise paid out over time, in installments, timed the same way — to avoid unnecessary buildup of unused money in the school's fund. This subsection largely repeats subsection (b).