20-U.S.C.-1087GG
§1087Gg – Collection of Defaulted Loans: Perkins Loan Revolving Fund
Pathway
Title 20 > Chapter 28 > Subchapter IV > Part D > Section 1087gg
Details
- Reference: Section 1087gg
- Legend: §1087Gg – Collection of Defaulted Loans: Perkins Loan Revolving Fund
- USCode Year: 2013
Provision Content
(a) Authority of Secretary to collect referred, transferred, or assigned loans
With respect to any loan—
(1) which was made under this part, and
(2) which is referred, transferred, or assigned to the Secretary by an institution with an agreement under section 1087cc(a) of this title,
the Secretary is authorized to attempt to collect such loan by any means authorized by law for collecting claims of the United States (including referral to the Attorney General for litigation) and under such terms and conditions as the Secretary may prescribe, including reimbursement for expenses reasonably incurred in attempting such collection.
(b) Collection of referred, transferred, or assigned loans
The Secretary shall continue to attempt to collect any loan referred, transferred, or assigned under paragraph (4) or (5) of section 1087cc(a) of this title until all appropriate collection efforts, as determined by the Secretary, have been expended.
(Pub. L. 89–329, title IV, §467, as added Pub. L. 99–498, title IV, §405(a), Oct. 17, 1986, 100 Stat. 1453; amended Pub. L. 102–325, title IV, §467, July 23, 1992, 106 Stat. 584; Pub. L. 105–244, title IV, §467(a), Oct. 7, 1998, 112 Stat. 1728; Pub. L. 111–39, title IV, §405(6), July 1, 2009, 123 Stat. 1947.)
Prior Provisions
A prior section 1087gg, Pub. L. 89–329, title IV, §467, as added Pub. L. 96–49, §5(d)(3)(A), Aug. 13, 1979, 93 Stat. 352; amended Pub. L. 96–374, title IV, §445(c), title XIII, §1391(a)(1), Oct. 3, 1980, 94 Stat. 1442, 1503; Pub. L. 99–272, title XVI, §16029, Apr. 7, 1986, 100 Stat. 354, related to collection of defaulted loans, prior to the general revision of this part by Pub. L. 99–498.
Amendments
2009—Subsec. (b). Pub. L. 111–39 substituted paragraph (4) or (5) for paragraph (5)(A), (5)(B)(i), or (6).
1998—Subsec. (c). Pub. L. 105–244 struck out heading and text of subsec. (c) which established the Perkins Loan Revolving Fund and provided for deposits into and payments from the Fund.
1992—Pub. L. 102–325 amended section catchline generally, inserting : Perkins Loan Revolving Fund after loans and added subsec. (c).
Effective Date of 2009 Amendment
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.
Effective Date of 1998 Amendment
Amendment by 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.
Effective Date of 1992 Amendment
Amendment by Pub. L. 102–325 to this section, relating to creation of Perkins Loan Revolving Fund, effective Sept. 15, 1997, see section 468(4) of Pub. L. 102–325, set out as a note under section 1087dd of this title.
Transfer of Balance
Pub. L. 105–244, title IV, §467(b), Oct. 7, 1998, 112 Stat. 1728, provided that: Any funds in the Perkins Loan Revolving Fund on the date of enactment of this Act [Oct. 7, 1998] shall be transferred to and deposited in the Treasury.
U.S. Encyclopedia of Law Coverage
20-U.S.C.-1087A in the Legal Encyclopedia: Students
In this entry about 20-U.S.C.-1087A, find legal reference material, bibliographies and premiere content related to students in the American Encyclopedia of Law, presenting a comprehensive view of the United States students-specific issues, written by authorities in the field.
Part D – Federal Perkins Loans in the Legal Encyclopedia: Student Assistance
In this entry about Part D – Federal Perkins Loans, find legal reference material, bibliographies and premiere content related to student assistance in the American Encyclopedia of Law, presenting a comprehensive view of the United States student assistance-specific issues, written by authorities in the field.
Part C – William D. Ford Federal Direct Loan Program in the Legal Encyclopedia: Loans
In this entry about Part C – William D. Ford Federal Direct Loan Program, find legal reference material, bibliographies and premiere content related to loans in the American Encyclopedia of Law, presenting a comprehensive view of the United States loans-specific issues, written by authorities in the field.
20-U.S.C.-1087-2 in the Legal Encyclopedia: Education
In this entry about 20-U.S.C.-1087-2, find legal reference material, bibliographies and premiere content related to education in the American Encyclopedia of Law, presenting a comprehensive view of the United States education-specific issues, written by authorities in the field.
Leave a Reply