42 USC 292a - Scope and duration of loan insurance program

U.S Code last checked for updates: May 03, 2024

§ 292a.

Scope and duration of loan insurance program

(a)

In general

(b)

Certain limitations and priorities

(1)

Limitations regarding lenders, States, or areas

(2)

Priority for certain lenders

In providing certificates of insurance under section 292e of this title through comprehensive contracts, the Secretary shall give priority to eligible lenders that agree—

(A)

to make loans to students at interest rates below the rates prevailing, during the period involved, for loans covered by Federal loan insurance pursuant to this subpart; or

(B)

to make such loans under terms that are otherwise favorable to the student relative to the terms under which eligible lenders are generally making such loans during such period.

(c)

Authority of Student Loan Marketing Association

(1)

In general

(2)

Applicability of certain Federal regulations

(July 1, 1944, ch. 373, title VII, § 702, as added Pub. L. 102–408, title I, § 102, Oct. 13, 1992, 106 Stat. 1994.)

cite as: 42 USC 292a