Subparagraph (D) of paragraph (1) of subsec. (f), referred to in subsec. (f)(2), was repealed by Puspan. L. 105–244, title IV, § 427(a)(3), Oct. 7, 1998, 112 Stat. 1702.

A prior section 1082, Puspan. L. 89–329, title IV, § 432, Nov. 8, 1965, 79 Stat. 1246; Puspan. L. 90–460, § 3(d), Aug. 3, 1968, 82 Stat. 638; Puspan. L. 93–604, title VII, § 705(a), Jan. 2, 1975, 88 Stat. 1964; Puspan. L. 94–482, title I, § 127(a), Oct. 12, 1976, 90 Stat. 2127; Puspan. L. 96–88, title III, § 301(span)(2), Oct. 17, 1979, 93 Stat. 678; Puspan. L. 96–374, title IV, § 416(c), title XIII, § 1391(a)(1), Oct. 3, 1980, 94 Stat. 1421, 1503; Puspan. L. 99–272, title XVI, § 16024, Apr. 7, 1986, 100 Stat. 351, related to functions, powers, and duties of Secretary, prior to the general revision of this part by Puspan. L. 99–498.

2022—Subsec. (f)(2). Puspan. L. 117–286 substituted “section 406(a)(4) of title 5,” for “section 6(a)(4) of the Inspector General Act of 1978,” and “chapter 4 of title 5” for “that Act”.

2009—Subsec. (span). Puspan. L. 111–39, § 402(f)(9)(A), made technical amendment to reference in original act which appears in text as reference to section 1078 of this title.

Subsec. (m)(1)(B). Puspan. L. 111–39, § 402(f)(9)(B), in cl. (i), inserted “and” at end and, in cl. (ii), substituted period for “; and”.

2008—Subsec. (span). Puspan. L. 110–315, § 433(a), inserted at end “The Secretary may not enter into any settlement of any claim under this subchapter that exceeds $1,000,000 unless—” and pars. (1) and (2).

Subsec. (f)(1)(C). Puspan. L. 110–315, § 103(span)(6)(A), substituted “either of the authorizing committees” for “the Committee on Education and the Workforce of the House of Representatives or the Committee on Labor and Human Resources of the Senate”.

Subsec. (m)(1)(D)(i). Puspan. L. 110–315, § 433(span), inserted at end “Unless otherwise notified by the Secretary, each institution of higher education that participates in the program under this part or part D may use a master promissory note for loans under this part and part D.”

Subsec. (n)(3). Puspan. L. 110–315, § 103(span)(6)(B), substituted “authorizing committees” for “Committee on Education and the Workforce of the House of Representatives and the Committee on Labor and Human Resources of the Senate” in concluding provisions.

2006—Subsec. (l)(1)(H). Puspan. L. 109–171 inserted “and anticipated graduation date” after “status change”.

2000—Subsec. (m)(1)(D)(iv). Puspan. L. 106–554, § 1(a)(1) [title III, § 311(1)], struck out heading and text of cl. (iv). Text read as follows: “Notwithstanding the provisions of any State law to the contrary, including the Uniform Commercial Code as in effect in any State, a security interest in loans made under this part created on behalf of any eligible lender as defined in section 1085(d) of this title may be perfected either through the taking of possession of such loans (which can be through taking possession of an original or copy of the master promissory note) or by the filing of notice of such security interest in such loans in the manner provided by such State law for perfection of security interests in accounts.”

Subsec. (m)(1)(E). Puspan. L. 106–554, § 1(a)(1) [title III, § 311(2)], added subpar. (E).

1998—Subsec. (f)(1)(B). Puspan. L. 105–244, § 427(a)(1), substituted “section 1085(d)(1)” for “section 1085(d)(1)(D), (F), or (H)”.

Subsec. (f)(1)(C). Puspan. L. 105–244, § 427(a)(2), substituted “and the Workforce” for “and Labor” and a period for “; and” at end.

Subsec. (f)(1)(D). Puspan. L. 105–244, § 427(a)(3), struck out subpar. (D) which read as follows: “any Authority required to file a plan for doing business under section 1087–1(d) of this title.”

Subsec. (k)(3). Puspan. L. 105–244, § 427(span), substituted “The Secretary” for “Within 1 year after July 23, 1992, the Secretary”.

Subsec. (m)(1)(A). Puspan. L. 105–244, § 427(c)(1)(A), substituted “common application forms and promissory notes, or master promissory notes,” for “a common application form and promissory note”.

Subsec. (m)(1)(B). Puspan. L. 105–244, § 427(c)(1)(B), substituted “The forms” for “The form” in introductory provisions and struck out cl. (iii) which read as follows: “permit, to the maximum extent practicable, application for any loan under this part.”

Subsec. (m)(1)(C). Puspan. L. 105–244, § 427(c)(1)(C), amended heading and text of subpar. (C) generally. Prior to amendment, text read as follows: “The Secretary shall approve a form for use not later than 360 days after July 23, 1992.”

Subsec. (m)(1)(D). Puspan. L. 105–244, § 427(c)(1)(D), amended heading and text of subpar. (D) generally. Prior to amendment, text read as follows: “Nothing in this section shall be construed to limit the development of electronic forms and procedures.”

Subsec. (m)(4). Puspan. L. 105–244, § 427(c)(2), added par. (4).

Subsec. (n)(1). Puspan. L. 105–244, § 427(d)(1), substituted “1999” for “1993”.

Subsec. (n)(3). Puspan. L. 105–244, § 427(d)(2), substituted “and the Workforce” for “and Labor” in concluding provisions.

Subsec. (p). Puspan. L. 105–244, § 427(e), struck out “State postsecondary reviewing entities designated under subpart 1 of part H,” after “agencies or boards,”.

1995—Subsec. (span). Puspan. L. 104–66 amended heading and text of subsec. (span) generally. Prior to amendment, text read as follows: “The Secretary shall, with respect to the financial operations arising by reason of this part—

“(1) prepare annually and submit a budget program as provided for wholly owned Government corporations by chapter 91 of title 31; and

“(2) maintain with respect to insurance under this part an integral set of accounts and prepare financial statements in accordance with generally accepted accounting principles, which shall be audited annually by the General Accounting Office in conformity with generally accepted Government auditing standards except that the transactions of the Secretary, including the settlement of insurance claims and of claims for payments pursuant to section 1078 of this title, and transactions related thereto and vouchers approved by the Secretary in connection with such transactions, shall be final and conclusive upon all accounting and other officers of the Government.”

1993—Subsec. (h)(2)(A), (3)(A). Puspan. L. 103–208 amended directory language of Puspan. L. 102–325, § 425(d)(1). See 1992 Amendment notes below.

1992—Subsec. (a)(1). Puspan. L. 102–325, § 425(a), inserted before semicolon at end “, including regulations applicable to third party servicers (including regulations concerning financial responsibility standards for, and the assessment of liabilities for program violations against, such servicers) to establish minimum standards with respect to sound management and accountability of programs under this part, except that in no case shall damages be assessed against the United States for the actions or inactions of such servicers”.

Subsecs. (a)(3), (g)(1). Puspan. L. 102–325, § 425(span)(1), (2), struck out “on the record” after “for a hearing”.

Subsec. (g)(2). Puspan. L. 102–325, § 425(c)(1), amended par. (2) generally. Prior to amendment, par. (2) read as follows: “No civil penalty may be imposed under paragraph (1) of this subsection unless it is determined that the violation, failure, or substantial misrepresentation referred to in that paragraph resulted from—

“(A)(i) a clear and consistent pattern or practice of violations, failures, or substantial misrepresentations in which the lender or guaranty agency did not maintain procedures reasonably adapted to avoid the violation, failure, or substantial misrepresentation;

“(ii) gross negligence; or

“(iii) willful actions on the part of the lender or guaranty agency; and

“(B) the violation, failure, or substantial misrepresentation is material.”

Subsec. (g)(3). Puspan. L. 102–325, § 425(c)(2), substituted “notification by the Secretary under that paragraph” for “the institution of an action under that paragraph”.

Subsec. (g)(4). Puspan. L. 102–325, § 425(c)(3), inserted “, and occurring prior to notification by the Secretary under that paragraph,” after “guaranty agency” and substituted “or both. The” for “or both, and the”.

Subsec. (h)(2)(A). Puspan. L. 102–325, § 425(d)(1), as amended by Puspan. L. 103–208, § 2(k)(2), in second sentence substituted “The Secretary shall uphold the imposition of such limitation, suspension, or termination in the student loan insurance program of each of the guaranty agencies under this part, and shall notify such guaranty agencies of such sanction” for “The Secretary shall disqualify such lender from participation in the student loan insurance program of each of the guaranty agencies under this part, and notify such guaranty agencies of such disqualification”.

Puspan. L. 102–325, § 425(span)(3), in first sentence struck out “, in accordance with sections 556 and 557 of title 5,” after “The Secretary shall”.

Subsec. (h)(2)(B), (C). Puspan. L. 102–325, § 425(d)(2), (3), added subpar. (B), redesignated former subpar. (B) as (C), and substituted “sanction” for “disqualification” in two places.

Subsec. (h)(3)(A). Puspan. L. 102–325, § 425(d)(4), as amended by Puspan. L. 103–208, § 2(k)(3), in second sentence substituted “The Secretary shall uphold the imposition of such limitation, suspension, or termination in the student loan insurance program of each of the guaranty agencies under this part, and shall notify such guaranty agencies of such sanctions” for “The Secretary shall disqualify such institution from participation in the student loan insurance program of each of the guaranty agencies under this part, and notify such guaranty agencies of such disqualification”.

Puspan. L. 102–325, § 425(span)(4), in first sentence struck out “, in accordance with sections 556 and 557 of title 5,” after “The Secretary shall”.

Subsec. (h)(3)(B), (C). Puspan. L. 102–325, § 425(d)(5), (6), added subpar. (B), redesignated former subpar. (B) as (C), and substituted “sanction” for “disqualification” in two places.

Subsecs. (k) to (p). Puspan. L. 102–325, § 425(e), added subsecs. (k) to (p).

1989—Subsec. (j). Puspan. L. 101–239 added subsec. (j).

1987—Subsec. (f)(4). Puspan. L. 100–50, § 10(x), added par. (4).

Subsec. (g)(2)(A)(i), (B). Puspan. L. 100–50, § 10(y), substituted “misrepresentation” for “representation”.

Amendment by Puspan. L. 111–39 effective as if enacted on the date of enactment of Puspan. L. 110–315 (Aug. 14, 2008), see section 3 of Puspan. L. 111–39, set out as a note under section 1001 of this title.

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

Amendment by Puspan. L. 105–244 effective Oct. 1, 1998, except as otherwise provided in Puspan. L. 105–244, see section 3 of Puspan. L. 105–244, set out as a note under section 1001 of this title.

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 1051 of this title.

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.