§ 1074. Scope and duration of Federal loan insurance program

Legislative history

Reconstructed from this section’s Code source credit and amendment notes, resolved against the local Statutes at Large. Editorial notes are evidence, not the law that made the change.

1. 1986

   Higher Education Act of 1965

   Pub. L. 89–329 title IV § 424 · 79 Stat. 1219

   Enacted · 20 U.S.C. § 1074

   Pub. L. 89–329, title IV, § 424, as added Pub. L. 99–498, title IV, § 402(a), Oct. 17, 1986, 100 Stat. 1358

   Source evidence

   Code 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

   Enacted provision · exact public law section
   Sec. 424. scope and duration of federal loan insurance program (a) The total principal amount of new loans made and installments paid pursuant to lines of credit (as defined in section 435) to students covered by Federal loan insurance under this part, shall not exceed $700,000,000 in the fiscal year ending June 30, 1966, $1,000,000,000 in the fiscal year ending June 30, 1967, and $1,400,000,000 in the fiscal year ending June 30, 1968. Thereafter, Federal loan insurance pursuant to this part may be granted only for loans made (or for loan installments paid pursuant to lines of credit) to enable students, who have obtained prior loans insured under this part, to continue or complete their educational program; but no insurance may be granted for any loan made or installment paid after June 30, 1972. (b) The Commissioner may, if he 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.

2. 1992

   Higher Education Amendments of 1992

   Pub. L. 102–325 title IV § 411(b)(1) · 106 Stat. 448

   1. Substituted · 20 U.S.C. § 1074(a)

      Pub. L. 102–325 substituted “October 1, 1998” for “October 1, 1992”

   2. Substituted · 20 U.S.C. § 1074(a)

      Pub. L. 102–325 substituted “September 30, 2002” for “September 30, 1997”

   Source evidence

   Code amendment note
   Subsec. (a). Pub. L. 102–325 substituted “October 1, 1998” for “October 1, 1992” and “September 30, 2002” for “September 30, 1997”.

   Enacted provision · exact public law section
   (1) Federal insurance duration.— Section 424(a) of the Act (20 U.S.C. 1074(a)) is amended— (A) by striking “October 1, 1992” and inserting “October 1, 1998”; and (B) by striking “September 30, 1997” and inserting “September 30, 2002”.

3. 1997

   Balanced Budget Act of 1997

   Pub. L. 105–33 title VI § 6104(1) · 111 Stat. 251

   1. Substituted · 20 U.S.C. § 1074(a)

      Pub. L. 105–33 substituted “October 1, 2002” for “October 1, 1998”

   2. Substituted · 20 U.S.C. § 1074(a)

      Pub. L. 105–33 substituted “September 30, 2006” for “September 30, 2002”

   Source evidence

   Code amendment note
   Subsec. (a). Pub. L. 105–33 substituted “October 1, 2002” for “October 1, 1998” and “September 30, 2006” for “September 30, 2002”.

   Enacted provision · exact public law section
   (1) in section 424(a), by striking “1998.” and “2002.” and inserting “2002.” and “2006.”, respectively;

4. 1998

   Higher Education Amendments of 1998

   Pub. L. 105–244 title IV § 414 · 112 Stat. 1581

   1. Substituted · 20 U.S.C. § 1074(a)

      Pub. L. 105–244 substituted “October 1, 2004” for “October 1, 2002”

   2. Substituted · 20 U.S.C. § 1074(a)

      Pub. L. 105–244 substituted “September 30, 2008” for “September 30, 2006”

   Source evidence

   Code amendment note
   Subsec. (a). Pub. L. 105–244 substituted “October 1, 2004” for “October 1, 2002” and “September 30, 2008” for “September 30, 2006”.

   Enacted provision · exact public law section
   SEC. 414. SCOPE AND DURATION OF FEDERAL LOAN INSURANCE PROGRAM. Section 424(a) (20 U.S.C. 1074(a)) is amended— (1) by striking “October 1, 2002” and inserting “October 1, 2004”; and (2) by striking “September 30, 2006” and inserting “September 30, 2008”.

5. 2006

   Higher Education Reconciliation Act of 2005

   Pub. L. 109–171 title VIII § 8004(b)(1) · 120 Stat. 4

   1. Substituted · 20 U.S.C. § 1074(a)

      Pub. L. 109–171 substituted “October 1, 2012” for “October 1, 2004”

   2. Substituted · 20 U.S.C. § 1074(a)

      Pub. L. 109–171 substituted “September 30, 2016” for “September 30, 2008”

   Source evidence

   Code amendment note
   Subsec. (a). Pub. L. 109–171 substituted “October 1, 2012” for “October 1, 2004” and “September 30, 2016” for “September 30, 2008”.

   Enacted provision · exact public law section
   (1) Federal insurance limitations.— Section 424(a) (20 U.S.C. 1074(a)) is amended— (A) by striking “2004” and inserting “2012”; and (B) by striking “2008” and inserting “2016”.

   Effective date note
   Amendment by Pub. L. 109–171 effective July 1, 2006, except as otherwise provided, see section 8001(c) of Pub. L. 109–171, set out as a note under section 1002 of this title.

6. 2008

   Higher Education Opportunity Act

   Pub. L. 110–315 title IV § 421 · 122 Stat. 3078

   1. Substituted · 20 U.S.C. § 1074(a)

      Pub. L. 110–315 substituted “October 1, 2014” for “October 1, 2012”

   2. Substituted · 20 U.S.C. § 1074(a)

      Pub. L. 110–315 substituted “September 30, 2018” for “September 30, 2016”

   Source evidence

   Code amendment note
   Subsec. (a). Pub. L. 110–315 substituted “October 1, 2014” for “October 1, 2012” and “September 30, 2018” for “September 30, 2016”.

   Enacted provision · exact public law section
   SEC. 421. LIMITATIONS ON AMOUNTS OF LOANS COVERED BY FEDERAL INSURANCE.   Section 424(a) (20 U.S.C. 1074(a)) is amended— (1) by striking “2012” and inserting “2014”; and (2) by striking “2016” and inserting “2018”.

7. 2010

   SAFRA Act

   Pub. L. 111–152 title II § 2202 · 124 Stat.1029

   Substituted · 20 U.S.C. § 1074(a)

   Pub. L. 111–152 substituted “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.” for “September 30, 1976, and for each of the succeeding fiscal years ending prior to October 1, 2014. Thereafter, Federal loan insurance pursuant to this part may be granted only for loans made (or for loan installments paid pursuant to lines of credit) to enable students, who have obtained prior loans insured under this part, to continue or complete their educational program; but no insurance may be granted for any loan made or installment paid after September 30, 2018.”

   Source evidence

   Code amendment note
   Subsec. (a). Pub. L. 111–152 substituted “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.” for “September 30, 1976, and for each of the succeeding fiscal years ending prior to October 1, 2014. Thereafter, Federal loan insurance pursuant to this part may be granted only for loans made (or for loan installments paid pursuant to lines of credit) to enable students, who have obtained prior loans insured under this part, to continue or complete their educational program; but no insurance may be granted for any loan made or installment paid after September 30, 2018.”

   Enacted provision · exact public law section
   SEC. 2202. TERMINATION OF FEDERAL LOAN INSURANCE PROGRAM.   Section 424(a) (20 U.S.C. 1074(a)) is amended by striking “September 30, 1976,” and all that follows and inserting “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.”.

12 of 12 references resolved to an enrolled provision