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20 U.S.C. § 1074 — Scope and duration of Federal loan insurance program

submitted 40 years ago by Pub. L. 89-329 to r/title-20-EDUCATION · 165 words · no verdicts yet

in plain englishAI-generated · not legal advice

A translation hasn’t been published for this section yet. The official text below is complete and authoritative.

the actual law source: uscode.house.gov ↗public domain
(a) Limitations on amounts of loans covered by Federal insurance

The total principal amount of new loans made and installments paid pursuant to lines of credit (as defined in section 1085 of this title) to students covered by Federal loan insurance under this part shall not exceed $2,000,000,000 for the period from July 1, 1976, to September 30, 1976, for each of the succeeding fiscal years ending prior to October 1, 2009, and for the period from October 1, 2009, to June 30, 2010, for loans first disbursed on or before June 30, 2010.

(b) Apportionment of amounts

The Secretary may, if he or she finds it necessary to do so in order to assure an equitable distribution of the benefits of this part, assign, within the maximum amounts specified in subsection (a), Federal loan insurance quotas applicable to eligible lenders, or to States or areas, and may from time to time reassign unused portions of these quotas.

Source credit: (Pub. L. 89–329, title IV, § 424, as added Pub. L. 99–498, title IV, § 402(a), Oct. 17, 1986, 100 Stat. 1358; amended Pub. L. 102–325, title IV, § 411(b)(1), July 23, 1992, 106 Stat. 510; Pub. L. 105–33, title VI, § 6104(1), Aug. 5, 1997, 111 Stat. 652; Pub. L. 105–244, title IV, § 414, Oct. 7, 1998, 112 Stat. 1679; Pub. L. 109–171, title VIII, § 8004(b)(1), Feb. 8, 2006, 120 Stat. 158; Pub. L. 110–315, title IV, § 421, Aug. 14, 2008, 122 Stat. 3227; Pub. L. 111–152, title II, § 2202, Mar. 30, 2010, 124 Stat. 1074.)

history & why it existsrecord from the source credit
  • 1986Enacted · Pub. L. 89-329 · 100 Stat. 1358
  • 1992Amended · Pub. L. 102-325 · 106 Stat. 510
  • 1997Amended · Pub. L. 105-33 · 111 Stat. 652
  • 1998Amended · Pub. L. 105-244 · 112 Stat. 1679
  • 2006Amended · Pub. L. 109-171 · 120 Stat. 158
  • 2008Amended · Pub. L. 110-315 · 122 Stat. 3227
  • 2010Amended · Pub. L. 111-152 · 124 Stat. 1074

A history note hasn’t been published yet. The record shows enactment by Pub. L. 89-329 on 1986-10-17.

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