Section 1078–1 of this title, referred to in subsecs. (b)(2)(C), (5)(A)(ii) and (c)(6), (7), was repealed by Pub. L. 103–66, title IV, § 4047(b)–(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 Pub. L. 105–244, title IV, § 418, Oct. 7, 1998, 112 Stat. 1691.

The date of enactment of this section, referred to in subsec. (b)(2)(I)(vii)(III)(bb)(AA), probably means the date of enactment of Pub. L. 112–74, which enacted subsec. (b)(2)(I)(vii) and was approved Dec. 23, 2011.

The Adjustable Interest Rate (LIBOR) Act, referred to in subsec. (b)(2)(I)(viii)(II), is div. U of Pub. L. 117–103, Mar. 15, 2022, 136 Stat. 825, which is classified principally to chapter 55 (§ 5801 et seq.) of Title 12, Banks and Banking. The term “tenor spread adjustment” is defined in section 5802 of Title 12. For complete classification of this Act to the Code, see Short Title note set out under section 5801 of Title 12 and Tables.

The effective date of this clause, referred to in subsec. (b)(2)(I)(viii)(III), probably means the date of enactment of Pub. L. 117–103, which was approved Mar. 15, 2022.

The Servicemembers Civil Relief Act, referred to in subsec. (g), is act Oct. 17, 1940, ch. 888, 54 Stat. 1178, which was classified to section 501 et seq. of the former Appendix to Title 50, War and National Defense, prior to editorial reclassification and renumbering as chapter 50 (§ 3901 et seq.) of Title 50. The parenthetical reference to “(50 U.S.C. App. 527)” relates to section 207 of the Act, which is now classified to section 3937 of Title 50. For complete classification of this Act to the Code, see Tables.

A prior section 1087–1, Pub. L. 89–329, title IV, § 438, as added Pub. L. 92–318, title I, § 132E(a), June 23, 1972, 86 Stat. 264; amended Pub. L. 94–482, title I, § 127(a), Oct. 12, 1976, 90 Stat. 2133; Pub. L. 95–43, § 1(a)(37), June 15, 1977, 91 Stat. 216; Pub. L. 96–49, § 5(c)(1), Aug. 13, 1979, 93 Stat. 352; Pub. L. 96–374, title IV, §§ 420(a), 451(d), title XIII, § 1391(a)(1), Oct. 3, 1980, 94 Stat. 1425, 1458, 1503; Pub. L. 97–35, title V, §§ 532(b)(4), 534(b), 536(a), Aug. 13, 1981, 95 Stat. 452, 454, 455; Pub. L. 98–79, § 7(a), (c), Aug. 15, 1983, 97 Stat. 482, 483; Pub. L. 99–272, title XVI, §§ 16013(d), 16017(b)(3), (c), Apr. 7, 1986, 100 Stat. 340, 347, related to special allowances, prior to the general revision of this part by Pub. L. 99–498.

A prior section 1087–1a, Pub. L. 96–374, title IV, § 420(b), Oct. 3, 1980, 94 Stat. 1427, related to eligibility for special allowances covering loans made or purchased with funds obtained from Authorities issuing tax exempt obligations, and established requirement relating to plans for doing business, prior to repeal by Pub. L. 98–79, § 7(b), Aug. 15, 1983, 97 Stat. 483.

2022—Subsec. (b)(2)(I)(viii). Pub. L. 117–103 added cl. (viii).

2011—Subsec. (b)(2)(I)(i)(II). Pub. L. 112–74, § 309(e)(2)(A), substituted “the rate determined under subclause (I) (in accordance with clause (vii))” for “such average bond equivalent rate”.

Subsec. (b)(2)(I)(v)(III). Pub. L. 112–74, § 309(e)(2)(B), substituted “(iv), (vi), and (vii)” for “(iv), and (vi)”.

Subsec. (b)(2)(I)(vii). Pub. L. 112–74, § 309(e)(1), added cl. (vii).

2010—Subsec. (b)(2)(I). Pub. L. 111–152, § 2208(1)(A), which directed amendment of subpar. (I) “in the subclause heading” by inserting “, and before july 1, 2010” after “2000”, was executed in subpar. (I) heading to reflect the probable intent of Congress.

Subsec. (b)(2)(I)(i). Pub. L. 111–152, § 2208(1)(B), inserted “and before July 1, 2010,” after “2000,” in introductory provisions.

Subsec. (b)(2)(I)(ii)(II). Pub. L. 111–152, § 2208(1)(C), inserted “and before July 1, 2010,” after “2006,”.

Subsec. (b)(2)(I)(iii). Pub. L. 111–152, § 2208(1)(D), inserted “and before July 1, 2010,” after “2000,”.

Subsec. (b)(2)(I)(iv). Pub. L. 111–152, § 2208(1)(E), inserted “and that is disbursed before July 1, 2010,” after “2000,”.

Subsec. (b)(2)(I)(v)(I). Pub. L. 111–152, § 2208(1)(F), inserted “and before July 1, 2010,” after “2006,”.

Subsec. (b)(2)(I)(vi). Pub. L. 111–152, § 2208(1)(G), inserted “, and before july 1, 2010” after “2007” in heading and “and before July 1, 2010,” after “2007,” in introductory provisions.

Subsec. (c)(2)(B)(iii) to (v). Pub. L. 111–152, § 2208(2)(A), inserted “and” after semicolon in cl. (iii), substituted period for “; and” at end of cl. (iv), and struck out cl. (v), which read as follows: “by substituting ‘0.0 percent’ for ‘3.0 percent’ with respect to loans for which the first disbursement of principal is made on or after July 1, 2010.”

Subsec. (c)(6). Pub. L. 111–152, § 2208(2)(B), inserted “and first disbursed before July 1, 2010,” after “1992,”.

Subsec. (d)(2)(B). Pub. L. 111–152, § 2208(3), inserted “, and before July 1, 2010” after “2007”.

2009—Subsec. (b)(2)(A). Pub. L. 111–39, § 402(f)(11)(A), substituted “1077a(i)” for “1077a(f)”.

Subsec. (b)(2)(B)(i). Pub. L. 111–39, § 402(f)(11)(B), which directed substitution of “1986” for “1954” in the first sentence, could not be executed because “1954” did not appear in original text subsequent to amendment by Pub. L. 100–369. See 1988 Amendment note below.

Subsec. (b)(2)(F). Pub. L. 111–39, § 402(f)(11)(C), substituted “1077a(i)” for “1077a(f)”.

2008—Subsec. (g). Pub. L. 110–315 added subsec. (g).

2007—Subsec. (b)(2)(I)(i). Pub. L. 110–84, § 305(a)(1), substituted “the following clauses” for “clauses (ii), (iii), and (iv)”.

Subsec. (b)(2)(I)(ii)(II). Pub. L. 110–84, § 201(a)(2), substituted “section 1077a(l)(1) or (l)(4)” for “section 1077a(l)(1)”.

Subsec. (b)(2)(I)(v)(III). Pub. L. 110–84, § 305(a)(2), substituted “clauses (ii), (iii), (iv), and (vi)” for “clauses (ii), (iii), and (iv)”.

Subsec. (b)(2)(I)(vi). Pub. L. 110–84, § 305(a)(3), added cl. (vi).

Subsec. (b)(5). Pub. L. 110–84, § 302(b)(2), struck out concluding provisions which read as follows: “As used in this section, the term ‘eligible loan’ includes all loans subject to section 1078–9 of this title.”

Subsec. (d)(2). Pub. L. 110–84, § 305(b), amended par. (2) generally. Prior to amendment, text read as follows: “With respect to any loan under this part for which the first disbursement was made on or after October 1, 1993, the amount of the loan fee which shall be deducted under paragraph (1) shall be equal to 0.50 percent of the principal amount of the loan.”

2006—Subsec. (b)(2)(B). Pub. L. 109–171, § 8013(d)(1), repealed Pub. L. 109–150, § 2(b), (c)(2). See 2005 Amendment note below.

Pub. L. 109–171, § 8013(c)(1), amended directory language of Pub. L. 108–409, § 2. See 2004 Amendment note below.

Subsec. (b)(2)(B)(iv). Pub. L. 109–171, § 8013(a)(1), struck out “and before January 1, 2006,” after “September 30, 2004,”.

Subsec. (b)(2)(B)(v)(II)(aa), (bb). Pub. L. 109–171, § 8013(a)(2)(A), struck out “and before January 1, 2006,” after “September 30, 2004,”.

Subsec. (b)(2)(B)(v)(II)(cc). Pub. L. 109–171, § 8013(a)(2)(B), struck out “, and before January 1, 2006” after “September 30, 2004”.

Subsec. (b)(2)(B)(vi), (vii). Pub. L. 109–171, § 8013(b), added cls. (vi) and (vii).

Subsec. (b)(2)(I)(iii). Pub. L. 109–171, § 8006(b)(1)(A), struck out “, subject to clause (v) of this subparagraph” before period at end.

Subsec. (b)(2)(I)(iv). Pub. L. 109–171, § 8006(b)(1)(B), struck out “, subject to clause (vi) of this subparagraph” before period at end.

Subsec. (b)(2)(I)(v) to (vii). Pub. L. 109–171, § 8006(b)(1)(C), added cl. (v) and struck out former cls. (v) to (vii), which related to limitation on special allowances for plus loans before July 1, 2006, limitation on special allowances for consolidation loans, and limitation on special allowances for plus loans on or after July 1, 2006, respectively.

Subsec. (c)(2). Pub. L. 109–171, § 8008(c)(1), reenacted par. heading, designated existing provisions as subpar. (A), inserted subpar. (A) heading, and added subpar. (B).

2005—Subsec. (b)(2)(B). Pub. L. 109–150, § 2(c)(2), which directed amendment of directory language of Pub. L. 108–409, § 2, was repealed by Pub. L. 109–171, § 8013(d)(1). See 2004 Amendment note and Effective Date of 2006 Amendment note below.

Subsec. (b)(2)(B)(iv), (v)(II). Pub. L. 109–150, § 2(b), which directed substitution of “April 1, 2006” for “January 1, 2006” wherever appearing, was repealed by Pub. L. 109–171, § 8013(d)(1). See Effective Date of 2006 Amendment note below.

2004—Subsec. (b)(2)(B). Pub. L. 108–409, § 2, as amended by Pub. L. 109–171, § 8013(c)(1), substituted “this clause” for “this division” in cl. (i) and “clause (i) of this subparagraph” for “division (i) of this subparagraph” in cl. (ii), inserted “or refunded after September 30, 2004, and before January 1, 2006,” after “October 1, 1993,” in cl. (iv), and added cl. (v). Pub. L. 109–150, § 2(c)(2), which made an amendment to directory language of Pub. L. 108–409, § 2, identical to that made by Pub. L. 109–171, § 8013(c)(1), was repealed by Pub. L. 109–171, § 8013(d)(1). See Effective Date of 2006 Amendment note below.

2002—Subsec. (b)(2)(I). Pub. L. 107–139, § 2(1), struck out “, and before july 1, 2003” after “january 1, 2000” in heading.

Subsec. (b)(2)(I)(i). Pub. L. 107–139, § 2(2), struck out “and before July 1, 2003,” after “January 1, 2000,” in introductory provisions.

Subsec. (b)(2)(I)(ii). Pub. L. 107–139, § 2(3), added cl. (ii) and struck out heading and text of former cl. (ii). Text read as follows: “In the case of any loan for which the first disbursement is made on or after January 1, 2000, and before July 1, 2003, and for which the applicable rate of interest is described in section 1077a(k)(2) of this title, clause (i)(III) of this subparagraph shall be applied by substituting ‘1.74 percent’ for ‘2.34 percent’.”

Subsec. (b)(2)(I)(iii). Pub. L. 107–139, § 2(2), (4), struck out “and before July 1, 2003,” after “January 1, 2000,” and inserted “or (l)(2)” after “section 1077a(k)(3)”.

Subsec. (b)(2)(I)(iv). Pub. L. 107–139, § 2(2), (5), inserted “or (l)(3)” after “section 1077a(k)(4)” and struck out “and before July 1, 2003,” after “January 1, 2000,”.

Subsec. (b)(2)(I)(v). Pub. L. 107–139, § 2(6), inserted “before july 1, 2006” after “plus loans” in heading and substituted “July 1, 2006,” for “July 1, 2003,” in introductory provisions.

Subsec. (b)(2)(I)(vi). Pub. L. 107–139, § 2(2), (7), in introductory provisions, struck out “and before July 1, 2003,” after “January 1, 2000,” and inserted “or (l)(3)” after “section 1077a(k)(4)”, and in concluding provisions, substituted “section 1077a(k)(4) or (l)(3) of this title, whichever is applicable” for “section 1077a(k)(4) of this title”.

Subsec. (b)(2)(I)(vii). Pub. L. 107–139, § 2(8), added cl. (vii).

1999—Subsec. (b)(2)(A). Pub. L. 106–170, § 409(a)(1), substituted “(G), (H), and (I)” for “(G), and (H)” in first sentence.

Subsec. (b)(2)(B)(iv). Pub. L. 106–170, § 409(a)(2), substituted “(G), (H), or (I)” for “(G), or (H)” in first sentence.

Subsec. (b)(2)(C)(ii). Pub. L. 106–170, § 409(a)(3), substituted “(G), (H), and (I)” for “(G) and (H)” in introductory provisions.

Subsec. (b)(2)(H). Pub. L. 106–170, § 409(a)(4), (5), substituted “january 1, 2000” for “july 1, 2003” in subpar. heading and “January 1, 2000” for “July 1, 2003” in text wherever appearing.

Subsec. (b)(2)(I). Pub. L. 106–170, § 409(a)(6), added subpar. (I).

1998—Subsec. (b)(2)(A). Pub. L. 105–244, § 416(b)(3)(A), substituted “(F), (G), and (H)” for “(F), and (G)”.

Pub. L. 105–178, § 8301(b)(2)(A), substituted “(E), (F), and (G)” for “(E), and (F)”.

Subsec. (b)(2)(B)(iv). Pub. L. 105–244, § 416(b)(3)(B), substituted “(F), (G), or (H)” for “(F), or (G)”.

Pub. L. 105–178, § 8301(b)(2)(B), substituted “(E), (F), or (G)” for “(E), or (F)”.

Subsec. (b)(2)(C)(ii). Pub. L. 105–244, § 416(b)(3)(C), substituted “subparagraphs (G) and (H)” for “subparagraph (G)”.

Pub. L. 105–178, § 8301(b)(2)(C), substituted “Subject to subparagraph (G), in the case” for “In the case”.

Subsec. (b)(2)(G). Pub. L. 105–178, § 8301(b)(1), added subpar. (G).

Subsec. (b)(2)(H). Pub. L. 105–244, § 416(b)(1), added subpar. (H).

Subsec. (c)(1). Pub. L. 105–244, § 433(a), amended heading and text of par. (1) generally. Prior to amendment, text read as follows: “Notwithstanding subsection (b) of this section, the total amount of interest and special allowance payable under section 1078(a)(3)(A) of this title and subsection (b) of this section, respectively, to any holder shall be reduced by the Secretary by the amount which the lender is authorized to charge as an origination fee in accordance with paragraph (2) of this subsection. If the total amount of interest and special allowance payable under section 1078(a)(3)(A) of this title and subsection (b) of this section, respectively, is less than the amount the lender was authorized to charge borrowers for origination fees in that quarter, the Secretary shall deduct the excess amount from the subsequent quarters’ payments until the total amount has been deducted.”

Subsec. (c)(2). Pub. L. 105–244, § 433(b)(1), substituted “(including loans made under section 1078–8 of this title, but excluding” for “(other than” and inserted at end “Except as provided in paragraph (8), a lender that charges an origination fee under this paragraph shall assess the same fee to all student borrowers.”

Subsec. (c)(8). Pub. L. 105–244, § 433(b)(2), added par. (8).

Subsec. (d)(1). Pub. L. 105–244, § 433(c), amended heading and text of par. (1) generally. Prior to amendment, text read as follows: “Notwithstanding subsection (b) of this section, the Secretary shall reduce the total amount of interest and special allowance payable under section 1078(a)(3)(A) of this title and subsection (b) of this section, respectively, to any holder of a loan by a loan fee in an amount determined in accordance with paragraph (2) of this subsection. If the total amount of interest and special allowance payable under section 1078(a)(3)(A) of this title and subsection (b) of this section, respectively, is less than the amount of such loan fee, then the Secretary shall deduct such excess amount from subsequent quarters’ payments until the total amount has been deducted.”

Subsec. (e). Pub. L. 105–244, § 433(d)(1), amended heading and text of subsec. (e) generally. Prior to amendment, subsec. (e) related to lending from proceeds of tax exempt obligations.

1993—Subsec. (b)(2)(A). Pub. L. 103–66, § 4111(1), substituted “subparagraphs (B), (C), (D), (E), and (F)” for “subparagraphs (B), (C), and (D)” and “section 1077a(f)” for “section 1077a(e)”.

Subsec. (b)(2)(B)(iv). Pub. L. 103–66, § 4105, added cl. (iv).

Subsec. (b)(2)(E), (F). Pub. L. 103–66, § 4111(2), added subpars. (E) and (F).

Subsec. (c). Pub. L. 103–66, § 4102(a)(1), inserted “from students” after “origination fees” in heading.

Subsec. (c)(2). Pub. L. 103–66, § 4102(a)(2)(A), substituted “sections 1078–3 and 1087–2(o)” for “sections 1078–1, 1078–2, 1078–3, and 1087–2(o)” and “3.0 percent” for “5 percent”.

Subsec. (c)(6). Pub. L. 103–66, § 4102(a)(2)(B), substituted “3.0 percent” for “5 percent”.

Subsecs. (d) to (f). Pub. L. 103–66, § 4103, added subsec. (d) and redesignated former subsecs. (d) and (e) as (e) and (f), respectively.

1992—Subsec. (b)(2)(A). Pub. L. 102–325, § 430(a)(1), (2), substituted “3.10” for “3.25” and inserted at end “If such computation produces a number less than zero, such loans shall be subject to section 1077a(e) of this title.”

Subsec. (b)(2)(B)(i). Pub. L. 102–325, § 430(a)(3), substituted “3.10” for “3.25”.

Subsec. (b)(2)(B)(ii). Pub. L. 102–325, § 430(a)(4), added cl. (ii) and struck out former cl. (ii) which read as follows: “The rate set under division (i) shall not be less than (I) 2.5 percent per year in the case of loans for which the applicable interest rate is 7 percent per year, (II) 1.5 percent per year in the case of loans for which the applicable interest rate is 8 percent per year, or (III) 0.5 percent in the case of loans for which the applicable rate is 9 percent per year.”

Subsec. (b)(2)(C). Pub. L. 102–325, § 430(a)(5), designated existing provision as cl. (i), inserted “before October 1, 1992,” after “made”, and added cl. (ii).

Subsec. (b)(2)(D)(i). Pub. L. 102–325, § 430(a)(6), substituted “3.10” for “3.25”.

Subsec. (b)(5). Pub. L. 102–325, § 430(c), inserted closing provision which defined “eligible loan” as used in this section to include all loans subject to section 1078–9 of this title.

Subsec. (b)(5)(A)(ii). Pub. L. 102–325, § 430(b), inserted “1078–8,” after “1078–3,”.

Subsec. (c)(2). Pub. L. 102–325, § 430(d)(1), substituted “Subject to paragraph (6) of this subsection, with” for “With”.

Subsec. (c)(6), (7). Pub. L. 102–325, § 430(d)(2), added pars. (6) and (7).

Subsec. (d)(2)(C). Pub. L. 102–325, § 430(e), struck out “or discount” after “premium”.

1988—Subsecs. (b)(2)(B)(i), (d)(1), (3). Pub. L. 100–369 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.

1987—Subsec. (b)(2)(B)(iii). Pub. L. 100–50, § 10(bb)(1), substituted “subsection (d) of this section” for “subsection (c) of this section”.

Subsec. (b)(2)(C). Pub. L. 100–50, § 10(d)(2), substituted “12 percent” for “12.5 percent”.

Subsec. (b)(7). Pub. L. 100–50, § 10(bb)(2), added par. (7).

Subsec. (d)(4)(C). Pub. L. 100–50, § 10(cc), struck out “, as evidenced by the information submitted under paragraph (2)(G) of this subsection” after “fiscal year”.

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

Amendment by Pub. L. 110–315 effective for loans for which the first disbursement is made on or after July 1, 2008, see section 422(g)(3) of Pub. L. 110–315, set out as a note under section 1078 of this title.

Amendment by sections 201(a)(2) and 305 of Pub. L. 110–84 effective Oct. 1, 2007, see section 1(c) of Pub. L. 110–84, set out as a note under section 1070a of this title.

Amendment by section 302(b)(2) of Pub. L. 110–84 effective Oct. 1, 2007, see section 302(c) of Pub. L. 110–84, set out as a note under section 1078 of this title.

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

Pub. L. 109–171, title VIII, § 8006(b)(2), Feb. 8, 2006, 120 Stat. 160, provided that: “The amendments made by this subsection [amending this section] shall not apply with respect to any special allowance payment made under section 438 of the Higher Education Act of 1965 (20 U.S.C. 1087–1) before April 1, 2006.”

Pub. L. 109–171, title VIII, § 8013(c)(3), Feb. 8, 2006, 120 Stat. 167, provided that: “The amendment made by paragraph (1) [amending this section] shall be effective as if enacted on October 30, 2004, and the amendment made by paragraph (2) [amending provisions set out as a note under section 1078–10 of this title] shall be effective as if enacted on October 1, 2005.”

Pub. L. 109–171, title VIII, § 8013(d)(2), Feb. 8, 2006, 120 Stat. 167, provided that: “The amendments made by subsections (a) and (c) of this section [amending this section and provisions set out as a note under section 1078–10 of this title] shall be effective as if the amendments made in subsections (b) and (c) of section 2 of the Second Higher Education Extension Act of 2005 [Pub. L. 109–150, amending this section and provisions set out as a note under section 1078–10 of this title] had not been enacted.”

Pub. L. 109–150, § 2(d), Dec. 30, 2005, 119 Stat. 2884, provided that:

Pub. L. 106–170, title IV, § 409(b), Dec. 17, 1999, 113 Stat. 1916, provided that: “Subparagraph (I) of section 438(b)(2) of the Higher Education Act of 1965 (20 U.S.C. 1087–1(b)(2)) as added by subsection (a) of this section shall apply with respect to any payment pursuant to such section with respect to any 3-month period beginning on or after January 1, 2000, for loans for which the first disbursement is made after such date.”

Amendment by section 416(b)(1) and (3) of Pub. L. 105–244 applicable with respect to any loan made, insured, or guaranteed under this part for which the first disbursement is made on or after Oct. 1, 1998, and before July 1, 2003, except that such amendment is applicable with respect to any loan made under section 1078–3 of this title for which application is received by an eligible lender on or after Oct. 1, 1998, and before July 1, 2003, see section 416(c) of Pub. L. 105–244, set out as a note under section 1077a of this title.

Amendment by section 433(a)–(c) of Pub. L. 105–244 effective Oct. 1, 1998, except as otherwise provided in Pub. L. 105–244, see section 3 of Pub. L. 105–244, set out as a note under section 1001 of this title.

Pub. L. 105–244, title IV, § 433(d)(2), Oct. 7, 1998, 112 Stat. 1711, provided that: “The amendment made by paragraph (1) [amending this section] shall be effective as of the date the plan required by section 438(e)(1) [subsec. (e)(1) of this section] (as such section was in effect prior to such amendment) was approved by the Secretary or the Governor (whichever was the case). No Authority shall have a right or cause of action against the Secretary for any amounts paid to or offset by the Secretary pursuant to a final settlement agreement entered into prior to July 1, 1998, resolving any audit or program review findings alleging violations of any provision of section 438(e) (as in effect prior to such amendment).”

Amendment by section 4102(a) of Pub. L. 103–66 effective July 1, 1994, see section 4102(d) of Pub. L. 103–66, set out as a note under section 1078 of this title.

Amendment by Pub. L. 102–325 applicable with respect to loans for which first disbursement is made on or after Oct. 1, 1992, see section 432(a)(13) of Pub. L. 102–325, set out as a note under section 1078 of this title.

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

Section effective Oct. 17, 1986, with subsec. (b) of this section effective with respect to loans disbursed on or after 30 days after Oct. 17, 1986, or made to cover the costs of instruction for periods of enrollment beginning on or after 30 days after Oct. 17, 1986, and subsec. (d) of this section effective 30 days after Oct. 17, 1986, see section 402(b) of Pub. L. 99–498, set out as a note under section 1071 of this title.