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(a) Submission of applications; approval.

Purpose; authorization of appropriations; initial year payment provisions.

1070b-1.

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Amount and duration of grants.

(a) Payment; maximum amount; minimum payment.

(b) Period of grant; student requirements. Selection of recipients; agreements with institutions.

(a) Eligibility for award of supplemental grants.

(b) Selection by institutions of higher education.

(c) Less-than-half-time undergraduate students.

Apportionment and allocation of funds. (a) Apportionment ratio; State apportionment; consolidation; excess, reapportionment.

(b) Time for application; equitable criteria for allocations; payments from allocations.

SUBPART 3-GRANTS TO STATES FOR STATE STUDENT

1070c.

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1070d-1b.

1070d-1c.

Sec.

1070e.

1070e-1.

EDUCATION

Payments to institutions of higher education.

(a) Cost of education payments.

(b) Computation of amount.

(c) Applications; contents and manner of filing.

(d) Apportionment of appropriations.

Veterans' cost-of-instruction payments to institutions of higher education.

(a) Eligibility.

(b) Computation of amount.

(c) Application; contents.

(d) Manner of payment.

(e) Use of funds.

(f) Coordination with Veterans' Administration programs.

(g) Administration of program.

PART B-FEDERAL, STATE, AND PRIVATE PROGRAMS OF LOW-INTEREST INSURED LOANS TO STUDENTS IN INSTITUTIONS OF HIGHER EDUCATION

1071.

appropri

(e) Age discrimination prohibited.

(c) Requirements for approval of applications.

(d) Assurances of accessibility.

Upward bound program.

(a) Program authority.

(b) Enumeration of services provided.

(c) Requirements for approval of applications.

(d) Maximum stipends.

Special services for disadvantaged stu

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SUBPART 5-SPECIAL PROGRAMS FOR STUDENTS WHOSE FAMILIES ARE ENGAGED IN MIGRANT AND SEASONAL

Secondary and postsecondary high school equivalency programs; college

1070d-1d.

FARMWORK

1070d-2.

1072.

1073.

1074.

1075.

1076.

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thorizing advances to States; determination of amount; reductions; repayment of advances; general requirements for advances.

Limitations on participation in Federal loan insurance programs.

(a) Conditions prohibiting issuance
of certificates of insurance.
(b) Conditions authorizing issu-
ance of certificates of insur-
ance.

(c) Additional factors in determi-
nation of issuance of certifi-
cates of insurance.

New loans under Federal loan insurance program.

(a) Total principal amount; duration of program.

(b) Assignment and reassignment of Federal loan insurance quotas.

Federal loan insurance limitations. (a) Maximum annual insurable loan; maximum aggregate insured unpaid principal amount.

(b) Insurance liability limitations. Insurability of loans made from funds owned by lender or held by lender in trust.

Conditions for Federal loan insurance.

(a) Student eligibility; terms of loans.

Sec.

1077a.

1078.

1078-1.

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(c) Minimum annual repayment; repayment amount for husband and wife with outstanding loans.

Applicable interest rates.

(a) Periods of instruction beginning on or after January 1, 1981.

(b) Bond equivalent rates of ninety-one-day Treasury bills.

(c) Rate on outstanding balance of section 1078-2 loans made on or after October 1, 1981. (d) Lesser rates allowed. Federal interest subsidy payments. (a) Eligibility; separate schedule of expected family contributions; amount; time and manner of payment; statements required by Secretary from loan holders; prohibition against certain loans; eligible lenders.

(b) Agreements with State and

nonprofit private institutions for subsidy payments on loans insured under student loan insurance program of such State or institution; standards for student loan insurance program; required provisions of agreement. (c) Federal guaranty and supplementary guaranty of student loans insured under non-Federal programs; amount of reimbursement; exceptions; amount of loans in repayment; provisions of guaranty agreement; definitions; additional eligible agreements; equitable share of payments by Secretary; maximum amount payable in any fiscal year.

(d) Applicability of other provisions limiting the rate or amount of interest payable on loans.

(e) Repealed.

(f) Special payments to States and nonprofit private institutions under guaranty and supplementary guaranty agreements for administrative costs, etc.; determination of amounts; requirements for expenditures; definitions; prerequisites.

(g) Applications for agreements or supplementary agreements by nonprofit private institutions in States without agreements; procedural requirements.

(h) State agencies as lenders of last

1078-2.

1078a.

1079.

1080.

1081.

1082.

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(c) Special provisions permitting forebearance for the benefit of the borrower; definitions. Auxiliary loans to assist students.

(a) Borrowing authority; parents of undergraduates, independent undergraduates, graduate and professional students.

(b) Amount; maximums.

(c) Repayment; interest.

(d) Prerequisites to loan insurance by Secretary.

Repealed.

Certificates of Federal loan insurance. (a) Effective date of insurance. (b) Certificate of comprehensive insurance coverage.

(c) Premium charges.

(d) Assignment of lender's rights.

(e) Consolidation of loans.

Default of student borrower under Federal loan insurance program.

(a) Notification of Secretary; payment of amount of loss; collection standards.

(b) Subrogation of United States to rights of obligation holder; payment of excess recovery to insured; collection contracts; agreements with credit bureau organizations.

(c) Forbearance for benefit of student borrower or by Secretary in enforcement of insured obligation not precluded.

(d) Disqualification of lender for further Federal loan insurance upon failure to exercise reasonable care and diligence in making and collecting loans.

(e) Definitions.

Student loan insurance fund.

(a) Establishment; deposits and payments; investment of excess moneys.

(b) Issuance, payment, and redemption of notes and obligations.

Functions, powers, and duties of Secretary.

(a) Power to prescribe regulations; to sue and be sued; to enter into contracts; to pay and compromise claims; to waive rights.

(b) Preparation and submission of budget program; maintenance of accounts; audit of accounts.

(c) Collection and accumulation of data; publication of report of data.

(d) Delegation of powers and func

tions.

(e) Names and addresses of borrowers; other relevant information.

Institutional lenders.

Student loan information and disclosure.

(a) Required loan information.

(b) Requisite disclosure to student

borrower.

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1084.

1085.

1086.

1087.

1087-1.

1087-1a.

1087-2.

Participation by Federal credit unions in Federal, State, and private student loan insurance programs.

Definitions for student loan insurance program.

District of Columbia student loan insurance program.

(a) Powers of government of District of Columbia.

(b) Defense of minority removed. (c) Appropriation of funds. Repayment of loans by Secretary.

(a) Loans of deceased or disabled borrowers.

(b) Loans of bankrupt borrowers. Special allowances.

(a) Congressional findings and declaration of purpose.

(b) Payment authority; percentage calculation formula.

(c) Origination fees.

(d) Regulations.

Eligibility for special allowances covering loans made or purchased with funds obtained from Authorities issuing tax exempt obligations; plans for doing business required.

Student Loan Marketing Association.

(a) Congressional declaration of purpose.

(b) Creation, duration, location of offices, tax exemption, and advances to assist establishment.

(c) Board of Directors; representation of interests; tenure, vacancies, and meetings; executive officers.

(d) Authority of Association; per-
fection of security interest in
insured student loans.

(e) Discrimination prohibition.
(f) Common stock; qualified lender
shareholders; voting; trans-
fer; number of outstanding
shares; dividends.

(g) Preferred

stock; nonvoting; transfer; cumulative dividends; payment of preferred shareholder before common shareholder in the event of liquidation, dissolution, or winding up of business.

(h) Obligations; authorization, issuance, and guaranty of payment; purchase of obligations as public debt transactions.

(i) Powers of Association.

(j) Audit of accounts of Association; reports to Secretary of the Treasury.

(k) Report of audits to President and Congress; copies to Secretary and to Association.

(1) Legal investments; exempt securities; agency of the United

States; exemption from taxation; Association as legal person; priority of payment. (m) Obligations' preparation, custody, and delivery; reimbursement of expenditures.

(n) Report of operations and activities to President and Congress.

(0) Loan consolidation; extended flexible repayment terms.

(p) Advances of funds.

(q) Association as direct lender.

1087-3 to 1087-4. Repealed.

PART C-COOPERATIVE EDUCATION PROGRAMS

1087a to 1087c. Repealed.

PART D-DIRECT LOANS TO STUDENTS IN INSTITUTIONS OF HIGHER EDUCATION

1087aa.

1087bb.

1087cc.

1087cc-1.

1087dd.

1087ee.

1087ff.

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(c) Conspicuous form for required loan information; written form.

Terms and conditions of loans.

(a) General provision; limitation on aggregate amount of loan for student; regulations.

(b) Eligibility conditions.

(c) Written instruments for loans; repayment: generally, cancellation, deferral.

(d) Reasonable availability of loans

to eligible students. Cancellation of loans for certain public service.

(a) Amount; description of public service; definition of "handicapped children" and "year". (b) Payments to institutions to cover reductions in amounts of loans.

Distribution of assets from student loan funds.

(a) Capital distribution.

(b) Payments to Secretary.

(c) Capital distribution from funds

with excess liquid assets.

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