; and (II) the institution's enrollment for such second preceding year; (ii) standard living expenses equal to 150 percent of the difference between the income protection allowance for a family of five with one in college and the income protection allowance for a family of six with one in college for a single independent student; and (iii) books and supplies, in an amount not exceeding $800. (C) Undergraduate student need The term undergraduate student need means, with respect to an undergraduate student for a fiscal year, the lesser of the following: (i) The total of the amount equal to (except the amount computed by this clause shall not be less than zero)— (I) the average cost of attendance for the fiscal year, minus (II) the total amount of each such undergraduate student’s expected family contribution (computed in accordance with part F of this title) for the preceding fiscal year. (ii) $12,500. (e) Return of surplus allocated funds (1) Amount returned If an institution returns more than 10 percent of its allocation under subsection (d), the institution's allocation for the next fiscal year shall be reduced by the amount returned. (2) Waiver The Secretary may waive this paragraph for a specific institution if the Secretary finds that enforcing this paragraph would be contrary to the interest of the program. (f) Filing deadlines The Secretary shall, from time to time, set dates before which institutions must file applications for allocations under this part. . 443. Grants for Federal work-study programs Section 443 ( 20 U.S.C. 1087–53 ) is amended— (1) in subsection (b)— (A) in paragraph (1), in the matter preceding subparagraph (A), by striking part-time ; (B) in paragraph (2), by striking except that— and all that follows through an institution may use a portion and inserting except that an institution may use a portion ; (C) in paragraph (3), by inserting undergraduate after only ; (D) in paragraph (4), by striking 300 and inserting 500