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20 U.S.C. § 1087gg — Collection of defaulted loans: Perkins Loan Revolving Fund

submitted 40 years ago by Pub. L. 89-329 to r/title-20-EDUCATION · 145 words · no verdicts yet

in plain englishAI-generated · not legal advice

The Secretary may collect qualifying loans that an institution refers, transfers, or assigns to the Secretary. Collection may use any lawful method for collecting United States claims, and the Secretary must continue appropriate efforts until they are exhausted.

(a) For a loan made under this part and referred, transferred, or assigned to the Secretary by an institution with an agreement under section 1087cc(a), the Secretary may try to collect it by any method allowed for collecting United States claims, including referring it to the Attorney General for litigation. The Secretary may set the collection terms and may reimburse reasonable collection expenses. (b) The Secretary must keep trying to collect a loan referred, transferred, or assigned under section 1087cc(a)(4) or (5) until the Secretary determines that all appropriate collection efforts have been used.
the actual law source: uscode.house.gov ↗public domain
(a) Authority of Secretary to collect referred, transferred, or assigned loans

With respect to any loan—

(1)

which was made under this part, and

(2)

which is referred, transferred, or assigned to the Secretary by an institution with an agreement under section 1087cc(a) of this title,

the Secretary is authorized to attempt to collect such loan by any means authorized by law for collecting claims of the United States (including referral to the Attorney General for litigation) and under such terms and conditions as the Secretary may prescribe, including reimbursement for expenses reasonably incurred in attempting such collection.

(b) Collection of referred, transferred, or assigned loans

The Secretary shall continue to attempt to collect any loan referred, transferred, or assigned under paragraph (4) or (5) of section 1087cc(a) of this title until all appropriate collection efforts, as determined by the Secretary, have been expended.

Source credit: (Pub. L. 89–329, title IV, § 467, as added Pub. L. 99–498, title IV, § 405(a), Oct. 17, 1986, 100 Stat. 1453; amended Pub. L. 102–325, title IV, § 467, July 23, 1992, 106 Stat. 584; Pub. L. 105–244, title IV, § 467(a), Oct. 7, 1998, 112 Stat. 1728; Pub. L. 111–39, title IV, § 405(6), July 1, 2009, 123 Stat. 1947.)

history & why it existsrecord from the source credit
  • 1986Enacted · Pub. L. 89-329 · 100 Stat. 1453
  • 1992Amended · Pub. L. 102-325 · 106 Stat. 584
  • 1998Amended · Pub. L. 105-244 · 112 Stat. 1728
  • 2009Amended · Pub. L. 111-39 · 123 Stat. 1947

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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