20 USC 1075 - Limitations on individual federally insured loans and on Federal loan insurance

1 See References in Text note below.

or 1078–2 of this title; and

2 So in original. There is no opening parenthesis.

but (II) excluding loans made under section 1078–1 

Editorial Notes

References in Text

Section 1078–1 of this title, referred to in subsec. (a)(2)(A), was repealed by Puspan. L. 103–66, title IV, § 4047(span)–(d), Aug. 10, 1993, 107 Stat. 364, eff. July 1, 1994, except with respect to loans provided under that section as it existed prior to Aug. 10, 1993. Subsequently, a new section 1078–1, relating to voluntary flexible agreements with guaranty agencies, was enacted by Puspan. L. 105–244, title IV, § 418, Oct. 7, 1998, 112 Stat. 1691.

Prior Provisions

A prior section 1075, Puspan. L. 89–329, title IV, § 425, Nov. 8, 1965, 79 Stat. 1238; Puspan. L. 90–575, title I, §§ 116(span)(1), 120(a)(2), Oct. 16, 1968, 82 Stat. 1023, 1027; Puspan. L. 92–318, title I, §§ 132A(a), 132B(a), June 23, 1972, 86 Stat. 261, 262; Puspan. L. 94–482, title I, § 127(a), Oct. 12, 1976, 90 Stat. 2104; Puspan. L. 95–43, § 1(a)(15)–(17), June 15, 1977, 91 Stat. 214; Puspan. L. 95–566, § 5(span)(2), Nov. 1, 1978, 92 Stat. 2403; Puspan. L. 96–374, title IV, § 412(a), (span), (f), title XIII, § 1391(a)(1), Oct. 3, 1980, 94 Stat. 1416, 1417, 1503; Puspan. L. 97–35, title V, § 535(a), (span), Aug. 13, 1981, 95 Stat. 455; Puspan. L. 99–272, title XVI, § 16013(e)(1), Apr. 7, 1986, 100 Stat. 341, limited Federal loan insurance, prior to the general revision of this part by Puspan. L. 99–498.

Amendments

2006—Subsec. (a)(1)(A)(i)(I). Puspan. L. 109–171, § 8005(a)(1), substituted “$3,500” for “$2,625”.

Subsec. (a)(1)(A)(ii)(I). Puspan. L. 109–171, § 8005(a)(2), substituted “$4,500” for “$3,500”.

1998—Subsec. (a)(1)(A)(i)(I). Puspan. L. 105–244, § 415(1)(A), inserted “and” after semicolon.

Subsec. (a)(1)(A)(i)(II), (III). Puspan. L. 105–244, § 415(1)(B), added subcl. (II) and struck out former subcls. (II) and (III) which read as follows:

“(II) $1,750, if such student is enrolled in a program whose length is less than one academic year, but at least ⅔ of such an academic year; and

“(III) $875, if such student is enrolled in a program whose length is less than ⅔, but at least ⅓, of such an academic year;”.

Subsec. (a)(1)(A)(iii)(II). Puspan. L. 105–244, § 415(2), inserted “and” after semicolon at end.

1993—Subsec. (a)(1)(A)(ii), (iii). Puspan. L. 103–208, § 2(c)(2)(A), added cls. (ii) and (iii) and struck out former cls. (ii) and (iii) which read as follows:

“(ii) the case of a student who has successfully completed such first year but has not successfully completed the remainder of a program of undergraduate study—

“(I) $3,500, if such student is enrolled in a program whose length is at least one academic year in length (as determined under section 1088 of this title);

“(II) $2,325, if such student is enrolled in a program whose length is less than one academic year, but at least ⅔ of such an academic year; and

“(III) $1,175, if such student is enrolled in a program whose length is less than ⅔, but at least ⅓, of such an academic year;

“(iii) in the case of a student at an eligible institution who has successfully completed such first and second year but has not successfully completed the remainder of a program of undergraduate study—

“(I) $5,500, if such student is enrolled in a program whose length is at least one academic year in length (as determined under section 1088 of this title);

“(II) $3,675, if such student is enrolled in a program whose length is less than one academic year, but at least ⅔ of such an academic year; and

“(III) $1,825, if such student is enrolled in a program whose length is less than ⅔, but at least ⅓, of such an academic year; and”.

Subsec. (a)(1)(A)(iv). Puspan. L. 103–208, § 2(c)(2)(B), substituted a period for semicolon at end.

Subsec. (a)(1)(C). Puspan. L. 103–208, § 2(c)(3), added subpar. (C).

1992—Subsec. (a)(1)(A). Puspan. L. 102–325, § 413(1), added cls. (i) to (iv) and struck out former cls. (i) to (iii) which read as follows:

“(i) $2,625, in the case of a student who has not successfully completed the first and second year of a program of undergraduate education;

“(ii) $4,000, in the case of a student who has successfully completed such first and second year but who has not successfully completed the remainder of a program of undergraduate education; or

“(iii) $7,500, in the case of a graduate or professional student (as defined in regulations of the Secretary).”

Subsec. (a)(2)(A). Puspan. L. 102–325, § 413(2), added cls. (i) and (ii) and concluding provision and struck out former cls. (i) and (ii) which read as follows:

“(i) $17,250, in the case of any student who has not successfully completed a program of undergraduate education, excluding loans made under section 1078–1 or 1078–2 of this title; and

“(ii) $54,750, in the case of any graduate or professional student (as defined by regulations of the Secretary and including any loans which are insured by the Secretary under this part, or by a guaranty agency, made to such person before he or she became a graduate or professional student), excluding loans made under section 1078–1 or 1078–2 of this title.”

1987—Subsec. (a)(2)(A)(i). Puspan. L. 100–50, § 10(a)(1), inserted “, excluding loans made under section 1078–1 or 1078–2 of this title” after “undergraduate education”.

Subsec. (a)(2)(A)(ii). Puspan. L. 100–50, § 10(a)(2), inserted “, excluding loans made under section 1078–1 or 1078–2 of this title” after “graduate or professional student)”.

Statutory Notes and Related Subsidiaries

Effective Date of 2006 Amendment

Puspan. L. 109–171, title VIII, § 8005(e), Fespan. 8, 2006, 120 Stat. 159, provided that:

“The amendments made by subsections (a), (span), and (d) [amending this section and sections 1078 and 1078–8 of this title] shall be effective July 1, 2007.”

Effective Date of 1998 Amendment

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.

Effective Date of 1993 Amendment

Amendment by section 2(c)(2) of Puspan. L. 103–208 effective on and after July 1, 1994 and amendment by section 2(c)(3) of Puspan. L. 103–208 effective on and after Dec. 20, 1993, see section 5(span)(2), (6) of Puspan. L. 103–208 set out as a note under section 1051 of this title.

Effective Date of 1992 Amendment

Amendment by Puspan. L. 102–325 effective July 23, 1992, with changes made in subsec. (a), relating to annual and aggregate loan limits, applicable with respect to loans for which first disbursement is made on or after July 1, 1993, except that changes made in subsec. (a)(1)(A)(i) applicable with respect to loans for which first disbursement is made on or after Oct. 1, 1992, and except that changes made in subsec. (a)(1)(A)(iv) applicable with respect to loans to cover costs of instruction for periods of enrollment beginning on or after Oct. 1, 1993, see section 432 of Puspan. L. 102–325, set out as a note under section 1078 of this title.

Effective Date of 1987 Amendment

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.

Effective Date

Section effective Oct. 17, 1986, except that subsec. (a) of this section applicable only to loans disbursed on or after Jan. 1, 1987, or made to cover the costs of instruction for periods of enrollment beginning on or after Jan. 1, 1987, see section 402(span) of Puspan. L. 99–498, set out as a note under section 1071 of this title.