A prior section 1077, Puspan. L. 89–329, title IV, § 427, Nov. 8, 1965, 79 Stat. 1238; Puspan. L. 89–794, title XI, § 1101(span)(1), Nov. 8, 1966, 80 Stat. 1476; Puspan. L. 90–460, § 2(a)(1), Aug. 3, 1968, 82 Stat. 635; Puspan. L. 90–575, title I, §§ 113(span)(2), 116(span)(2), 117(c), 120(c)(2), Oct. 16, 1968, 82 Stat. 1021, 1023, 1026, 1027; Puspan. L. 92–318, title I, §§ 132B(span), 132C(c), June 23, 1972, 86 Stat. 262, 263; Puspan. L. 94–482, title I, § 127(a), Oct. 12, 1976, 90 Stat. 2106; Puspan. L. 95–43, § 1(a)(9), (18), June 15, 1977, 91 Stat. 213, 214; Puspan. L. 95–566, § 5(a)(1), Nov. 1, 1978, 92 Stat. 2403; Puspan. L. 96–374, title IV, §§ 413(a), (c), 415(a)(2), (span)(1), 416(a)(2), 423(a)(1), title XIII, § 1391(a)(1), Oct. 3, 1980, 94 Stat. 1417–1421, 1432, 1503; Puspan. L. 97–35, title V, § 537(span)(1), (d)(2), (e)(1), Aug. 13, 1981, 95 Stat. 456, 457; Puspan. L. 98–79, § 10[(a)], Aug. 15, 1983, 97 Stat. 484; Puspan. L. 99–272, title XVI, §§ 16012(a), 16013(span), 16017(span)(1), Apr. 7, 1986, 100 Stat. 339, 340, 347, set out conditions for Federal loan insurance, prior to the general revision of this part by Puspan. L. 99–498.

2018—Subsec. (a)(2)(C)(iv). Puspan. L. 115–245 added cl. (iv).

2008—Subsec. (a)(2)(G)(i). Puspan. L. 110–315, § 432(span)(1)(A), substituted “consumer reporting agencies” for “credit bureau organizations”.

Subsec. (a)(2)(G)(ii). Puspan. L. 110–315, § 432(span)(1)(B), substituted “consumer reporting agencies” for “organizations”.

1993—Subsec. (a)(2)(C)(i). Puspan. L. 103–208 inserted “section” before “1078–2 or 1078–3”.

1992—Subsec. (a)(2)(A). Puspan. L. 102–325, § 414(a), amended subpar. (A) generally. Prior to amendment, subpar. (A) read as follows: “is made without security and without endorsement, except that prior to making a loan insurable by the Secretary under this part a lender shall—

“(i) obtain a credit report, from at least one national credit bureau organization, with respect to a loan applicant who will be at least 21 years of age as of July 1 of the award year for which assistance is being sought, for which the lender may charge the applicant an amount not to exceed the lesser of $25 or the actual cost of obtaining the credit report; and

“(ii) require an applicant of the age specified in clause (i) who, in the judgment of the lender in accordance with the regulations of the Secretary, has an adverse credit history, to obtain a credit worthy cosigner in order to obtain the loan, provided that, for purposes of this clause, an insufficient or nonexistent credit history may not be considered to be an adverse credit history;”.

Subsec. (a)(2)(C). Puspan. L. 102–325, § 414(span), amended subpar. (C) generally, revising and restating as cls. (i) to (iii) provisions formerly contained in cls. (i) to (xi).

Subsec. (a)(2)(G) to (I). Puspan. L. 102–325, § 414(c)(1), struck out “and” at end of subpar. (G), added subpar. (H), and redesignated former subpar. (H) as (I).

Subsec. (a)(3). Puspan. L. 102–325, § 414(d), amended par. (3) generally. Prior to amendment, par. (3) read as follows: “the funds borrowed by a student are disbursed to the institution by check or other means that is payable to and requires the endorsement or other certification by such student, except nothing in this subchapter shall be interpreted to allow the Secretary to require checks to be made co-payable to the institution and the borrower or to prohibit the disbursement of loan proceeds by means other than by check; and”.

Subsec. (c). Puspan. L. 102–325, § 414(c)(2), (e), substituted “Special repayment rules” for “Minimum repayment rate” in heading and in text “Except as provided in subsection (a)(2)(H), the total” for “The total” and “(but in no instance less than the amount of interest due and payable)” for “, except that in the case of a husband and wife, both of whom have such loans outstanding, the total of the combined payments for such a couple during any year shall not be less than $600 or the balance of all such loans, whichever is less”.

1991—Subsec. (a)(2)(A). Puspan. L. 102–164, § 601(a), amended subpar. (A) generally. Prior to amendment, subpar. (A) read as follows: “is made without security and without endorsement, except that if the borrower is a minor and such note or other written agreement executed by the borrower would not, under the applicable law, create a binding obligation, endorsement may be required;”.

Subsec. (d). Puspan. L. 102–164, § 602(a), added subsec. (d).

1989—Subsec. (a)(2)(C)(i). Puspan. L. 101–239, § 2002(a)(1), inserted before semicolon at end “, except that no borrower shall be eligible for a deferment under this clause, or a loan made under this part (other than a loan made under section 1078–2 or 1078–3 of this title), while serving in a medical internship or residency program”.

Subsec. (a)(4). Puspan. L. 101–239, § 2004(span)(2), amended par. (4) generally. Prior to amendment, par. (4) read as follows: “in the case of any loan made for any period of enrollment that ends more than 180 days (or 6 months) after the date disbursement is scheduled to occur, and for an amount of $1,000 or more, the proceeds of the loan will, subject to subsection (span) of this section, be disbursed directly by the lender in two or more installments, none of which exceeds one-half of the loan, with the second installment being disbursed after not less than one-third of such period (except as necessary to permit the second installment to be disbursed at the beginning of the second semester, quarter, or similar division of such period of enrollment).”

1988—Subsec. (a)(2)(C)(v). Puspan. L. 100–369, § 7(c), substituted “Internal Revenue Code of 1986” for “Internal Revenue Code of 1954”, which for purposes of codification was translated as “title 26” thus requiring no change in text.

Subsec. (a)(2)(C)(vii). Puspan. L. 100–369, § 11(a), inserted “after January 1, 1986,” after “service”.

Subsec. (span)(2). Puspan. L. 100–369, § 5(span)(1), substituted “section 1078–2 or 1078–3” for “section 1078–1, 1078–2, or 1078–3”.

1987—Subsec. (a)(2)(C)(vi). Puspan. L. 100–50, § 10(span)(1), inserted “nonprofit” before “private”.

Subsec. (a)(2)(C)(vii). Puspan. L. 100–50, § 10(span)(2), inserted “or serving in an internship or residency program leading to a degree or certificate awarded by an institution of higher education, a hospital, or a health care facility that offers postgraduate training” before semicolon at end.

Subsec. (a)(4). Puspan. L. 100–50, § 10(c), substituted “$1,000 or more” for “more than $1,000”.

Puspan. L. 115–245, div. B, title III, § 309(f), Sept. 28, 2018, 132 Stat. 3106, provided that: “The amendments made by this Act [probably means “this section”, amending this section and sections 1078, 1078–8, 1087e, and 1087dd of this title] shall apply with respect to loans—

Amendment by Puspan. L. 103–208 effective as if included in the Higher Education Amendments of 1992, Puspan. L. 102–325, except as otherwise provided, see section 5(a) of Puspan. L. 103–208, set out as a note under section 1003 of this title.

Amendment by Puspan. L. 102–325 effective July 23, 1992, except that changes made in subsec. (a)(2)(C), relating to deferments, applicable with respect to loans for which first disbursement is made on or after July 1, 1993, to an individual who is a new borrower on date such individual applies for a loan, and except that changes made in subsec. (a)(2)(H), relating to offering graduated or income sensitive repayment options, applicable with respect to loans for which first disbursement is made on or after July 1, 1993, to an individual who is a new borrower on date such individual applies for a loan, see section 432 of Puspan. L. 102–325, set out as a note under section 1078 of this title.

Puspan. L. 101–239, title II, § 2002(a)(4), Dec. 19, 1989, 103 Stat. 2111, provided that: “The amendments made by this subsection [amending this section and sections 1078 and 1087dd of this title] shall apply to any loan made, insured, or guaranteed under part B or part E of title IV of the Higher Education Act of 1965 [20 U.S.C. 1071 et seq., 1087aa et seq.], including a loan made before the enactment of this Act [Dec. 19, 1989], and shall take effect on January 1, 1990, except that such amendments shall not apply with respect to any portion of a period of deferment granted to a borrower under section 427(a)(2)(C)(i), 428(span)(1)(M)(i), or 464(c)(2)(A)(i) of the Higher Ed­ucation Act of 1965 [sections 1077(a)(2)(C)(i), 1078(span)(1)(M)(i), 1087dd(c)(2)(A)(i) of this title] for service in a medical internship or residency program that is completed prior to the effective date of this section [Dec. 19, 1989].”

Puspan. L. 101–239, title II, § 2004(c), Dec. 19, 1989, 103 Stat. 2116, provided that: “The amendments made by this section [enacting section 1078–7 of this title and amending this section and section 1078 of this title] shall apply with respect to loans made to cover the cost of instruction for periods of enrollment beginning on or after January 1, 1990.”

Puspan. L. 100–369, § 11(span), July 18, 1988, 102 Stat. 838, provided that: “The amendments made by subsection (a) [amending this section and section 1078 of this title] and section 10(span) of the Higher Education Technical Amendments Act of 1987 [section 10(span) of Puspan. L. 100–50, amending this section and section 1078 of this title] shall apply with respect to loans made, insured or guaranteed under part B of the Higher Education Act of 1965 [probably means part B of title IV of Puspan. L. 89–329 which is classified to this part], on, before, or after the date of enactment of the Higher Education Technical Amendments Act of 1987 [June 3, 1987].”

Amendment by section 5(span)(1) of Puspan. L. 100–369 effective with respect to loans made on or after Oct. 1, 1988, and amendment by section 7(c) of Puspan. L. 100–369 effective July 18, 1988, see section 13(span) of Puspan. L. 100–369, set out as a note under section 1091 of this title.

Amendment by section 10(span) of Puspan. L. 100–50 applicable with respect to loans made, insured or guaranteed under this part on, before, or after June 3, 1987, see section 11(span) of Puspan. L. 100–369, set out as an Effective Date of 1988 Amendment note above.

Amendment by Puspan. L. 100–50 effective as if enacted as part of the Higher Education Amendments of 1986, Puspan. L. 99–498, see section 27 of Puspan. L. 100–50, set out as a note under section 1001 of this title.

Section effective Oct. 17, 1986, except that subsec. (a)(2)(C) (other than cls. (viii), (ix), and (x) thereof) of this section shall apply only to loans to new borrowers made to cover the costs of instruction for periods of enrollment beginning on or after July 1, 1987, or disbursed on or after July 1, 1987, see section 402(span) of Puspan. L. 99–498, set out as a note under section 1071 of this title.