SCH

School Funding

If the land is or was owned by a college, university or higher education institution, the U.S. has a right to recover grants made under the Higher Education Act of 1965. Unless you determine that the Act is not relevant, you must except to possible rights of the U.S. if a higher education institution appears in the chain of title.

Requirement

SCHR01 STG

Determine If There Are Higher Education Grants

The Company must be informed if any public funds have been advanced under the provisions of the Higher Education Act of 1965 (20 U.S.C.A., § 1132a, et. seq.). At that time, the Company may make additional requirements or exceptions.
Comment: If the land is owned by a college, university or higher education institution, the U.S. has a right to recover grants made under the Higher Education Act. Unless you determine that the Act is not relevant, you must except to possible rights of the U.S. if a higher education institution appears in the chain.

See Underwriting Manual

Exception

SCHX01 STG

Possible Higher Education Grants

Rights of the United States of America to recover any public funds advanced under the provisions of the Higher Education Act of 1965, as amended (formerly 20 U.S.C.A., § 1011k, et. seq.).
Comment: If the land is owned by a college, university or higher education institution, the U.S. has a right to recover grants made under the Higher Education Facilities Act. Unless you determine that the Act is not relevant, you must except to possible rights of the U.S. if the higher education institution appears in the chain.

See Underwriting Manual