View all text of Subpartii [§ 292q - § 292y]
§ 292r. Loan provisions
(a) Amount of loan
(1) In general
(2) Third and fourth years of medical school
(b) Terms and conditions
(c) Repayment; exclusions from repayment periodSuch loans shall be repayable in equal or graduated periodic installments (with the right of the borrower to accelerate repayment) over the period of not less than 10 years nor more than 25 years, at the discretion of the institution, which begins one year after the student ceases to pursue a full-time course of study at a school of medicine, osteopathic medicine, dentistry, pharmacy, podiatry, optometry, or veterinary medicine, excluding from such period—
(1) all periods—
(A) not in excess of three years of active duty performed by the borrower as a member of a uniformed service;
(B) not in excess of three years during which the borrower serves as a volunteer under the Peace Corps Act [22 U.S.C. 2501 et seq.];
(C) during which the borrower participates in advanced professional training, including internships and residencies; and
(D) during which the borrower is pursuing a full-time course of study at such a school; and
(2) a period—
(A) not in excess of two years during which a borrower who is a full-time student in such a school leaves the school, with the intent to return to such school as a full-time student, in order to engage in a full-time educational activity which is directly related to the health profession for which the borrower is preparing, as determined by the Secretary; or
(B) not in excess of two years during which a borrower who is a graduate of such a school is a participant in a fellowship training program or a full-time educational activity which—
(i) is directly related to the health profession for which such borrower prepared at such school, as determined by the Secretary; and
(ii) may be engaged in by the borrower during such a two-year period which begins within twelve months after the completion of the borrower’s participation in advanced professional training described in paragraph (1)(C) or prior to the completion of such borrower’s participation in such training.
(d) Cancellation of liability
(e) Rate of interest
(f) Security or endorsement
(g) Transferring and assigning loans
(h) Charge with respect to insurance for certain cancellations
(i) Charge with respect to late payments
(j) Authority of schools regarding rate of payment
(k) Authority regarding repayments by SecretaryUpon application by a person who received, and is under an obligation to repay, any loan made to such person as a health professions student to enable him to study medicine, osteopathy, dentistry, veterinary medicine, optometry, pharmacy, or podiatry, the Secretary may undertake to repay (without liability to the applicant) all or any part of such loan, and any interest or portion thereof outstanding thereon, upon his determination, pursuant to regulations establishing criteria therefor, that the applicant—
(1) failed to complete such studies leading to his first professional degree;
(2) is in exceptionally needy circumstances;
(3) is from a low-income or disadvantaged family as those terms may be defined by such regulations; and
(4) has not resumed, or cannot reasonably be expected to resume, the study of medicine, osteopathy, dentistry, veterinary medicine, optometry, pharmacy, or podiatric medicine, within two years following the date upon which he terminated such studies.
(l) Collection efforts by Secretary
(m) Elimination of statute of limitation for loan collections
(1) Purpose
(2) Prohibition
(July 1, 1944, ch. 373, title VII, § 722, as added Pub. L. 102–408, title I, § 102, Oct. 13, 1992, 106 Stat. 2012; amended Pub. L. 103–43, title XX, § 2014(b), June 10, 1993, 107 Stat. 215; Pub. L. 105–392, title I, § 134(a), (b)(1), Nov. 13, 1998, 112 Stat. 3577, 3578; Pub. L. 117–103, div. R, § 104(2), Mar. 15, 2022, 136 Stat. 821.)