Education Amendments of 1976

[AI summary unavailable — showing source text] Education Amendments - Title I: Higher Education - Extends the Higher Education Act until October 1, 1982. Authorizes appropriations to carry out the provisions of such Act until such date. Revises the provisions of the Act dealing with basic educational opportunity grants to provide that any amount paid under the Social Security Act to the student, which would not be paid if he were not a student, shall be considered as effective family income (formerly considered income to the student). Provides that in awarding student grants under the State student incentive grants program there shall be no differentiation between students based on whether the student pursues his study within the State or outside the State. Provides that loans insured or guaranteed under this Act may be released by a discharge in bankruptcy only if such discharge is granted after the five year period beginning on the date of commencement of the repayment period of such loan. Calls for regulations to provide for standards of financial responsibility for institutions of higher education receiving benefit from this Act. Provides for a fiscal audit of such institutions. Authorizes the suspension of payment to any s…