Education Opportunity Enhancement Act of 1992

[AI summary unavailable — showing source text] Education Opportunity Enhancement Act of 1992 - Title I: Federal Pell Grants - Amends the Higher Education Act of 1965 (HEA) to revise and rename the Pell Grants program under HEA title IV part A subpart 1 as the Federal Pell Grants program (later redesignates the provisions as subpart 2). Extends such program authority through FY 1998. Increases the maximum award amount for Pell Grants to $4,500 in academic year 1993-1994, with further increases based on the Consumer Price Index for academic years 1994-1995 through 1998-1999. Revises the formula for determining the amount of a Pell Grant award to a student. Sets forth payment schedules based on the expected family contribution and tuition costs, for various types of students. Permits Pell Grant awards (proportionately reduced) to students attending on a less-than-half time basis (including those taking one course at a time). Prohibits Pell Grants awards to prisoners in Federal or State penal institutions. Revises provisions relating to the period of eligibility for Pell Grants. Includes as eligible for Pell Grants students in programs of study abroad that are approved for credit by the institutions. Revises provisions relating to …