20-U.S.C.-1087I

§1087I – Authority to Sell Loans

Pathway

Title 20 > Chapter 28 > Subchapter IV > Part C > Section 1087i

Details

• Reference: Section 1087i
• Legend: §1087I – Authority to Sell Loans
• USCode Year: 2013

Provision Content

The Secretary, in consultation with the Secretary of the Treasury, is authorized to sell loans made under this part on such terms as the Secretary determines are in the best interest of the United States, except that any such sale shall not result in any cost to the Federal Government. Notwithstanding any other provision of law, the proceeds of any such sale may be used by the Secretary to offer reductions in the interest rate paid by a borrower of a loan made under this part as the Secretary determines appropriate to encourage on-time repayment in accordance with section 1087e(b)(7) of this title. Such reductions may be offered only if the Secretary determines the reductions are in the best financial interests of the Federal Government.

(Pub. L. 89–329, title IV, §459, as added Pub. L. 105–244, title IV, §455, Oct. 7, 1998, 112 Stat. 1718.)

Prior Provisions

A prior section 1087i, Pub. L. 89–329, title IV, §459, as added Pub. L. 102–325, title IV, §451, July 23, 1992, 106 Stat. 575, which related to schedule of regulatory activities by Secretary under Federal direct loan demonstration program, was omitted in the general amendment of this part by Pub. L. 103–66.

Effective Date

Section effective Oct. 1, 1998, except as otherwise provided in Pub. L. 105–244, see section 3 of Pub. L. 105–244, set out as an Effective Date of 1998 Amendment note under section 1001 of this title.

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.

20-U.S.C.-1082 in the Legal Encyclopedia: Student Assistance

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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.

Topic Map

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