20 U.S.C. § 4508

Amount of fellowships

Each student awarded a fellowship shall receive a stipend which shall not exceed the cost to the student for tuition, fees, books, room and board, or $12,000, whichever is less, for each academic year of study.

( Pub. L. 99–500, § 101(b) [title VIII, § 809] , Oct. 18, 1986 , 100 Stat. 1783–39 , 1783–78, and Pub. L. 99–591, § 101(b) [title VIII, § 809] , Oct. 30, 1986 , 100 Stat. 3341–39 , 3341–78.)