§ 1087ff. Distribution of assets from student loan funds

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 § 466 · 79 Stat. 1219

   Enacted · 20 U.S.C. § 1087ff

   Pub. L. 89–329, title IV, § 466, as added Pub. L. 99–498, title IV, § 405(a), Oct. 17, 1986, 100 Stat. 1453

   Source evidence

   Code source credit
   Pub. L. 89–329, title IV, § 466, as added Pub. L. 99–498, title IV, § 405(a), Oct. 17, 1986, 100 Stat. 1453

   Enacted provision · exact public law section
   Sec. 466. charges (a) Section 205 of the National Defense Education Act of 1958 is further amended by redesignating subsection (c) as subsection (d) and by inserting after subsection (b) the following new subsection: “(c) Pursuant to regulations of the Commissioner, an institution may assess a charge with respect to a loan from the loan fund established by the institution pursuant to this title for failure of the borrower to pay all or any part of an installment when it is due and, in the case, of a borrower who is entitled to deferment benefits under section Ante, pp. 1252, 1253. 205(b) (2) or cancellation benefits under section 205(b) (3), for any failure to file timely and satisfactory’ evidence of such entitlement. The amount of any such charge may not exceed— “(1) in the case of a loan which is repayable in monthly installments, $1 for the first month or part of a month by which such installment or evidence is late and $2 for each such month or part of a month thereafter; and “(2) in the case of a loan which has a bimonthly or quarterly repayment interval, $3 and $6. respectively, for each such interval or part thereof by which such installment or evidence is late. The institution may elect to add the amount of any such charge to the principal amount of the loan as of the first day after the day on which such installment or evidence was due, or to make the amount of the charge payable to the institution not later than the due date of the next installment after receipt by the borrower of notice of the assessment of the charge.” (b) Clause (2) of section 204 of such Act is amended by striking out “and (D)” and inserting in lieu thereof “(D) charges collected pursuant to section 205(c), and (E)”. (c) The amendment made by subsection (a) shall be applicable only with respect to loans made after the date of enactment of this Act.

2. 1992

   Higher Education Amendments of 1992

   Pub. L. 102–325 § 466(1) · 106 Stat. 448

   Substituted · 20 U.S.C. § 1087ff(b)

   Pub. L. 102–325, § 466(1), substituted “2005” for “1997”

   Source evidence

   Code amendment note
   Subsec. (b). Pub. L. 102–325, § 466(1), substituted “2005” for “1997”.

   Enacted provision · exact public law section
   (1) in subparagraph (A), by striking “and such determination shall not be made with respect to not more than 50 percent of the total number of schools in the State receiving assistance under such chapter 1”;

3. 1992

   Higher Education Amendments of 1992

   Pub. L. 102–325 § 466(2) · 106 Stat. 448

   1. Amended · 20 U.S.C. § 1087ff(c)

      Pub. L. 102–325, § 466(2), designated existing provisions as par. (1)

   2. Redesignated · 20 U.S.C. § 1087ff(c)

      Pub. L. 102–325, § 466(2), redesignated former pars. (1) and (2) as subpars. (A) and (B), respectively

   3. Added · 20 U.S.C. § 1087ff(c)

      Pub. L. 102–325, § 466(2), added par. (2)

   Source evidence

   Code amendment note
   Subsec. (c). Pub. L. 102–325, § 466(2), designated existing provisions as par. (1), redesignated former pars. (1) and (2) as subpars. (A) and (B), respectively, and added par. (2).

   Enacted provision · exact public law section
   (2) by amending subparagraph (C) to read as follows: “(C) as a full-time special education teacher, including teachers of infants, toddlers, children, or youth with disabilities in a public or other nonprofit elementary or secondary school system, or as a full-time qualified professional provider of early intervention services in a public or other nonprofit program under public supervision by the lead agency as authorized in section 676(b)(9) of the individuals With Disabilities Education Act;”;

4. 1993

   Higher Education Technical Amendments of 1993

   Pub. L. 103–208 § 2(f)(15) · 107 Stat. 2457

   Changed · 20 U.S.C. § 1087ff(c)(2)

   Pub. L. 103–208 realigned margin

   Source evidence

   Code amendment note
   Subsec. (c)(2). Pub. L. 103–208 realigned margin.

   Enacted provision · exact public law section
   (15) in section 466(c), by reducing the indentation of paragraph 20 USC 1087ff. (2) by two em spaces.

5. 1998

   Higher Education Amendments of 1998

   Pub. L. 105–244 § 466(1)(A) · 112 Stat. 1581

   1. Substituted · 20 U.S.C. § 1087ff(a)

      Pub. L. 105–244, § 466(1)(A), in introductory provisions, substituted “2003” for “1996”

   2. Substituted · 20 U.S.C. § 1087ff(a)

      Pub. L. 105–244, § 466(1)(A), in introductory provisions, substituted “2004” for “1997”

   Source evidence

   Code amendment note
   Subsec. (a). Pub. L. 105–244, § 466(1)(A), in introductory provisions, substituted “2003” for “1996” and “2004” for “1997”.

   Enacted provision · exact public law section
   (A) in the matter preceding paragraph (1)— (i) by striking “1996” and inserting “2003”; and (ii) by striking “1997” and inserting “2004”; and

6. 1998

   Higher Education Amendments of 1998

   Pub. L. 105–244 § 466(1)(B) · 112 Stat. 1581

   Substituted · 20 U.S.C. § 1087ff(a)(1)

   Pub. L. 105–244, § 466(1)(B), substituted “2003” for “1996”

   Source evidence

   Code amendment note
   Subsec. (a)(1). Pub. L. 105–244, § 466(1)(B), substituted “2003” for “1996”.

   Enacted provision · exact public law section
   (B) in paragraph (1), by striking “1996” and inserting “2003”;

7. 1998

   Higher Education Amendments of 1998

   Pub. L. 105–244 § 466(2) · 112 Stat. 1581

   1. Substituted · 20 U.S.C. § 1087ff(b)

      Pub. L. 105–244, § 466(2), substituted “2012” for “2005”

   2. Substituted · 20 U.S.C. § 1087ff(b)

      Pub. L. 105–244, § 466(2), substituted “2003” for “1996”

   Source evidence

   Code amendment note
   Subsec. (b). Pub. L. 105–244, § 466(2), substituted “2012” for “2005” and “2003” for “1996”.

   Enacted provision · exact public law section
   (2) in subsection (b)— (A) by striking “2005” and inserting “2012”; and (B) by striking “1996” and inserting “2003”; and

8. 1998

   Higher Education Amendments of 1998

   Pub. L. 105–244 § 466(3) · 112 Stat. 1581

   Substituted · 20 U.S.C. § 1087ff(c)(1)

   Pub. L. 105–244, § 466(3), substituted “2004” for “1997” in introductory provisions

   Source evidence

   Code amendment note
   Subsec. (c)(1). Pub. L. 105–244, § 466(3), substituted “2004” for “1997” in introductory provisions.

   Enacted provision · exact public law section
   (3) in subsection (c), by striking “1997” and inserting “2004”.

9. 2007

   College Cost Reduction and Access Act

   Pub. L. 110–84 title V § 501 · 121 Stat. 784

   Substituted · 20 U.S.C. § 1087ff(b)

   Pub. L. 110–84 substituted “October 1, 2012” for “March 31, 2012”

   Source evidence

   Code amendment note
   Subsec. (b). Pub. L. 110–84 substituted “October 1, 2012” for “March 31, 2012”.

   Enacted provision · exact public law section
   SEC. 501. DISTRIBUTION OF LATE COLLECTIONS.   Section 466(b) (20 U.S.C. 1087ff(b)) is amended by striking “March 31, 2012” and inserting “October 1, 2012”.

   Effective date note
   Amendment by Pub. L. 110–84 effective Oct. 1, 2007, see section 1(c) of Pub. L. 110–84, set out as a note under section 1070a of this title.

10. 2015

    Federal Perkins Loan Program Extension Act of 2015

    Pub. L. 114–105 § 2(b)(1)(A) · 129 Stat. 2219

    Substituted · 20 U.S.C. § 1087ff(a)

    Pub. L. 114–105, § 2(b)(1)(A), substituted “Beginning October 1, 2017” for “After September 30, 2003, and not later than March 31, 2004” in introductory provisions

    Source evidence

    Code amendment note
    Subsec. (a). Pub. L. 114–105, § 2(b)(1)(A), substituted “Beginning October 1, 2017” for “After September 30, 2003, and not later than March 31, 2004” in introductory provisions.

    Enacted provision · exact public law section
    (A) in the matter preceding paragraph (1), by striking “After September 30, 2003, and not later than March 31, 2004” and inserting “Beginning October 1, 2017”; and

11. 2015

    Federal Perkins Loan Program Extension Act of 2015

    Pub. L. 114–105 § 2(b)(1)(B) · 129 Stat. 2219

    Substituted · 20 U.S.C. § 1087ff(a)(1)

    Pub. L. 114–105, § 2(b)(1)(B), substituted “September 30, 2017” for “September 30, 2003”

    Source evidence

    Code amendment note
    Subsec. (a)(1). Pub. L. 114–105, § 2(b)(1)(B), substituted “September 30, 2017” for “September 30, 2003”.

    Enacted provision · exact public law section
    (B) in paragraph (1), by striking “September 30, 2003” and inserting “September 30, 2017”;

12. 2015

    Federal Perkins Loan Program Extension Act of 2015

    Pub. L. 114–105 § 2(b)(2) · 129 Stat. 2219

    1. Substituted · 20 U.S.C. § 1087ff(b)

       Pub. L. 114–105, § 2(b)(2), substituted “Beginning October 1, 2017” for “After October 1, 2012”

    2. Substituted · 20 U.S.C. § 1087ff(b)

       Pub. L. 114–105, § 2(b)(2), substituted “September 30, 2017” for “September 30, 2003”

    Source evidence

    Code amendment note
    Subsec. (b). Pub. L. 114–105, § 2(b)(2), substituted “Beginning October 1, 2017” for “After October 1, 2012” and “September 30, 2017” for “September 30, 2003”.

    Enacted provision · exact public law section
    (2) in subsection (b)— (A) by striking “After October 1, 2012” and inserting “Beginning October 1, 2017”; and (B) by striking “September 30, 2003” and inserting “September 30, 2017”; and

13. 2015

    Federal Perkins Loan Program Extension Act of 2015

    Pub. L. 114–105 § 2(b)(3) · 129 Stat. 2219

    Substituted · 20 U.S.C. § 1087ff(c)(1)

    Pub. L. 114–105, § 2(b)(3), substituted “October 1, 2017” for “October 1, 2004” in introductory provisions

    Source evidence

    Code amendment note
    Subsec. (c)(1). Pub. L. 114–105, § 2(b)(3), substituted “October 1, 2017” for “October 1, 2004” in introductory provisions.

    Enacted provision · exact public law section
    (3) in subsection (c)(1), by striking “October 1, 2004” and inserting “October 1, 2017”.

18 of 18 references resolved to an enrolled provision