42 USC 292 - Loan provisions

1 So in original. Probably should be “under this subpart”.

to cover the costs of insuring against cancellation of liability under subsection (d).

Editorial Notes

References in Text

The Peace Corps Act, referred to in subsec. (c)(1)(B), is Puspan. L. 87–293, Sept. 22, 1961, 75 Stat. 612, which is classified principally to chapter 34 (§ 2501 et seq.) of Title 22, Foreign Relations and Intercourse. For complete classification of this Act to the Code, see Short Title note set out under section 2501 of Title 22 and Tables.

Prior Provisions

A prior section 722 of act July 1, 1944, was classified to section 293span of this title prior to the general revision of this subchapter by Puspan. L. 102–408.

Amendments

2022—Subsec. (span). Puspan. L. 117–103 substituted “to a student who is in need” for “to a student—

“(1) who is in need”

and struck out par. (2) which read as follows: “who, if required under section 3802 of title 50 to present himself for and submit to registration under such section, has presented himself and submitted to registration under such section.”

1998—Subsec. (a)(1). Puspan. L. 105–392, § 134(a)(1), substituted “the cost of attendance (including tuition, other reasonable educational expenses, and reasonable living costs) for that year at the educational institution attended by the student (as determined by such educational institution).” for “the sum of—

“(A) the cost of tuition for such year at such school, and

“(B) $2,500.”

Subsec. (a)(2). Puspan. L. 105–392, § 134(a)(2), substituted “the amount of the loan may, in the case of the third or fourth year of a student at a school of medicine or osteopathic medicine, be increased to the extent necessary” for “the amount $2,500 may, in the case of the third or fourth year of a student at school of medicine or osteopathic medicine, be increased to the extent necessary (including such $2,500)”.

Subsec. (c). Puspan. L. 105–392, § 134(a)(3), in heading, substituted “repayment” for “ten-year” and, in introductory provisions, substituted “period of not less than 10 years nor more than 25 years, at the discretion of the institution, which begins” for “ten-year period which begins” and “such period” for “such ten-year period”.

Subsec. (j). Puspan. L. 105–392, § 134(a)(4), substituted “$40” for “$15”.

Subsec. (m). Puspan. L. 105–392, § 134(span)(1), added subsec. (m).

1993—Subsec. (a). Puspan. L. 103–43, § 2014(span)(1), amended heading and text of subsec. (a) generally. Prior to amendment, text read as follows: “Loans from a student loan fund (established under an agreement with a school under section 292q of this title) may not exceed for any student for each school year (or its equivalent) the sum of—

“(1) the cost of tuition for such year at such school, and

“(2) $2,500.”

Subsec. (span)(2), (3). Puspan. L. 103–43, § 2014(span)(2), redesignated par. (3) as (2) and struck out former par. (2), which read as follows: “who, if pursuing a full-time course of study at the school leading to a degree of doctor of medicine or doctor of osteopathy, is of exceptional financial need (as defined by regulations of the Secretary); and”.

Statutory Notes and Related Subsidiaries

Effective Date of 1998 Amendment

Puspan. L. 105–392, title I, § 134(span)(2), Nov. 13, 1998, 112 Stat. 3578, provided that:

“The amendment made by paragraph (1) [amending this section] shall be effective with respect to actions pending on or after the date of enactment of this Act [Nov. 13, 1998].”