20 U.S.C. 1078-3: Federal consolidation loans

2022

• Pub. L. 117–200 added item (dd). (Joint Consolidation Loan Separation Act) Law text · (a)

2010

• Pub. L. 111–152, §2206(a)(1), inserted ", and first disbursed before July 1, 2010" after "under this part". (Health Care and Education Reconciliation Act of 2010) Law text · (a)
• Pub. L. 111–152, §2206(a)(2)(A), inserted ", and before July 1, 2010" before semicolon. (Health Care and Education Reconciliation Act of 2010) Law text · (b)
• Pub. L. 111–152, §2206(a)(2)(B), substituted "If, before July 1, 2010," for "In the event that". (Health Care and Education Reconciliation Act of 2010) Law text · (b)
• Pub. L. 111–152, §2206(a)(3)(A), inserted "and that is disbursed before July 1, 2010," after "2006,". (Health Care and Education Reconciliation Act of 2010) Law text · (c)
• Pub. L. 111–152, §2206(a)(3)(B), inserted "and disbursed before July 1, 2010," after "1994,". (Health Care and Education Reconciliation Act of 2010) Law text · (c)
• Pub. L. 111–152, §2206(a)(4), substituted "June 30, 2010. No loan may be made under this section for which the disbursement is on or after July 1, 2010." for "September 30, 2014." (Health Care and Education Reconciliation Act of 2010) Law text · (e)

2009

• Pub. L. 111–39, §402(f)(3)(A), substituted "part E" for "subpart II of part B". Law text · (a)
• Pub. L. 111–39, §402(f)(3)(B), in introductory provisions, substituted "subsection (b)(2)" for "subsection (b)(2)(F)" and inserted comma after "graduated". Law text · (c)
• Pub. L. 111–39, §402(c)(1), substituted "section 1098e of this title," for "section 1098e of this title". Law text · (c)
• Pub. L. 111–39, §402(f)(3)(C), substituted "loan insurance account" for "loan insurance fund". Law text · (d)
• Pub. L. 111–39, §402(f)(3)(D), substituted "this subsection" for "subsection (a) of this section". Law text · (f)

2008

• Pub. L. 110–315, §425(a), added item (cc). (Higher Education Opportunity Act) Law text · (a)
• Pub. L. 110–315, §425(b)(1), added subpar. (F) and redesignated former subpar. (F) as (G). (Higher Education Opportunity Act) Law text · (b), (G)
• Pub. L. 110–315, §432(b)(3)(A), substituted "consumer reporting agencies" for "credit bureau organizations". (Higher Education Opportunity Act) Law text · (b)
• Pub. L. 110–315, §432(b)(3)(B), substituted "consumer reporting agencies" for "organizations". (Higher Education Opportunity Act) Law text · (b)
• Pub. L. 110–315, §425(c), made technical correction to directory language of Pub. L. 110–84, §203(b)(2)(C). See 2007 Amendment note below. (Higher Education Opportunity Act) Law text · (b)
• Pub. L. 110–315, §425(b)(2), substituted "A direct consolidation loan offered under this paragraph" for "Such direct consolidation loan" and inserted after first sentence "In addition, in the event that a borrower chooses to obtain a consolidation loan for the purposes of using the no accrual of in… (Higher Education Opportunity Act) Law text · (b)
• Pub. L. 110–315, §425(d)(1)(A), in introductory provisions, substituted "income-sensitive, or income-based" for "or income-sensitive" and inserted "or income-based" after "such income-sensitive". (Higher Education Opportunity Act) Law text · (c)
• Pub. L. 110–315, §425(d)(1)(B), inserted "except in the case of an income-based repayment schedule under section 1098e of this title" before "a repayment schedule" in subpar. (A) and added subpar. (C). (Higher Education Opportunity Act) Law text · (c)
• Pub. L. 110–315, §425(e), substituted "2014" for "2012". (Higher Education Opportunity Act) Law text · (e)

2007

• Pub. L. 110–84, §203(b)(1)(A), amended subcl. (V) generally. Prior to amendment, subcl. (V) read as follows: "an individual may obtain a subsequent consolidation loan under section 1087e(g) of this title only for the purposes of obtaining an income contingent repayment plan… (College Cost Reduction and Access Act) Law text · (a)
• Pub. L. 110–84, §203(b)(2)(A), substituted "income contingent repayment or income-based repayment," for "an income contingent repayment plan," and inserted "or if the loan is already in default" before semicolon. (College Cost Reduction and Access Act) Law text · (a)
• Pub. L. 110–84, §203(b)(2)(C), as amended by Pub. L. 110–315, §425(c), inserted ", pursuant to income-based repayment under section 1098e of this title," after "part D of this subchapter" in third sentence. (College Cost Reduction and Access Act) Law text · (b)
• Pub. L. 110–84, §203(b)(2)(B), inserted "or income-based repayment terms" after "income-sensitive repayment terms" in first sentence. (College Cost Reduction and Access Act) Law text · (b)
• Pub. L. 110–84, §203(b)(1)(B), (C), inserted "or chooses to obtain a consolidation loan for the purposes of using the public service loan forgiveness program offered under section 1087e(m) of this title," after "from such a lender," in first sentence and ", except that if a borrower intends to be e… (College Cost Reduction and Access Act) Law text · (b)

2006

• Pub. L. 109–171, §8009(b)(2), inserted "as determined under section 1078(b)(7)(A) of this title" after "repayment status". (Deficit Reduction Act of 2005) Law text · (a)
• Pub. L. 109–171, §8009(a)(1)(A), (B), substituted "under this section or under section 1087e(g) of this title terminates under both sections upon receipt of a consolidation loan under this section or under section 1087e(g) of this title" for "under this section terminates upon… (Deficit Reduction Act of 2005) Law text · (a)
• Pub. L. 109–171, §8009(a)(1)(C)–(E), added subcl. (V). (Deficit Reduction Act of 2005) Law text · (a)
• Pub. L. 109–171, §8009(c), struck out subpar. (C), which read as follows: (Deficit Reduction Act of 2005) Law text · (a)
• Pub. L. 109–234, §7015(a), struck out "and (i) the lender holds an outstanding loan of that borrower which is selected by the borrower for consolidation under this section, except that this clause shall not apply in the case of a borrower with multiple holders of loans under this… (Emergency Supplemental Appropriations Act for Defense, the Global War on Terror, and Hurricane Recovery, 2006) Law text · (b)
• Pub. L. 109–234, §7015(c), reenacted heading without change and substituted in text "In the event that a borrower is unable to obtain a consolidation loan from a lender with an agreement under subsection (a)(1), or is unable to obtain a consolidation loan with income-sensitive repay… (Emergency Supplemental Appropriations Act for Defense, the Global War on Terror, and Hurricane Recovery, 2006) Law text · (b)
• Pub. L. 109–171, §8009(a)(2), which directed substitution of "In the event that a lender with an agreement under subsection (a)(1) of this section denies a consolidation loan application submitted to the lender by an eligible borrower under this section, or denies an application submitted to the le… (Deficit Reduction Act of 2005) Law text · (b)
• Pub. L. 109–171, §8004(b)(3), substituted "2012" for "2004". (Deficit Reduction Act of 2005) Law text · (e)

2002

• Pub. L. 107–139 amended subpar. (A) generally. Prior to amendment, subpar. (A) read as follows: "Notwithstanding subparagraphs (B) and (C), with respect to any loan made under this section for which the application is received by an eligible lender on or after October 1, 1998, an… Law text · (c)

1998

• Pub. L. 105–244, §420(a), amended heading, added subpars. (A) and (B), and struck out former subpars. (A) and (B) which defined the term "eligible borrower", provided for termination of individual's status as an eligible borrower, and provided for counting loans against certain limi… (Higher Education Amendments of 1998) Law text · (a)
• Pub. L. 105–244, §420(b), added subpar. (C) and struck out former subpar. (C) which read as follows: "made under part D of this subchapter, except that loans made under such part shall be eligible student loans only for consolidation loans for which the application is received by… (Higher Education Amendments of 1998) Law text · (a)
• Pub. L. 105–244, §420(c)(1), inserted "except that this clause shall not apply in the case of a borrower with multiple holders of loans under this part," after "under this section,". (Higher Education Amendments of 1998) Law text · (b)
• Pub. L. 105–244, §420(c)(2), inserted "during any such period" after "and be paid" in introductory provisions and struck out ", or on or after October 1, 1998," before "that consolidated" in subcl. (I) and "and before October 1, 1998," before "except that" in subcl. (II). (Higher Education Amendments of 1998) Law text · (b)
• Pub. L. 105–244, §420(c)(3), inserted before semicolon at end ", except that a lender is not required to consolidate loans described in subparagraph (D) or (E) of subsection (a)(4) or subsection (d)(1)(C)(ii)". (Higher Education Amendments of 1998) Law text · (b)
• Pub. L. 105–244, §420(b)(2), amended heading, added subpar. (A), and struck out former subpar. (A) which read as follows: "Consolidation loans made under this section shall bear interest at rates determined under subparagraph (B), (C), or (D). For the purposes of payment of special … (Higher Education Amendments of 1998) Law text · (c)
• Pub. L. 105–244, §420(d), substituted "September 30, 2004" for "September 30, 2002". (Higher Education Amendments of 1998) Law text · (e)
• Pub. L. 105–244, §420(e), added par. (2) and redesignated former par. (2) as (3). (Higher Education Amendments of 1998) Law text · (f), (3)

1997

• Pub. L. 105–78, §609(b), added subpar. (C) and redesignated former subpars. (C) and (D) as (D) and (E), respectively. (Departments of Labor, Health and Human Services, and Education, and Related Agencies Appropriations Act, 1998) Law text · (a)
• Pub. L. 105–78, §609(c)(1), (2), inserted "for which the application is received by an eligible lender before November 13, 1997, or on or after October 1, 1998," after "consolidation loan" and struck out "or" at end. (Departments of Labor, Health and Human Services, and Education, and Related Agencies Appropriations Act, 1998) Law text · (b)
• Pub. L. 105–78, §609(c)(3)–(5), added subcl. (II) and redesignated former subcl. (II) as (III) and inserted "or (II)" before semicolon at end. (Departments of Labor, Health and Human Services, and Education, and Related Agencies Appropriations Act, 1998) Law text · (b), (III)
• Pub. L. 105–78, §609(d), added par. (6). (Departments of Labor, Health and Human Services, and Education, and Related Agencies Appropriations Act, 1998) Law text · (b)
• Pub. L. 105–78, §609(e)(1), substituted "subparagraph (B), (C), or (D)" for "subparagraph (B) or (D)". (Departments of Labor, Health and Human Services, and Education, and Related Agencies Appropriations Act, 1998) Law text · (c)
• Pub. L. 105–78, §609(e)(2), added subpar. (D). (Departments of Labor, Health and Human Services, and Education, and Related Agencies Appropriations Act, 1998) Law text · (c)
• Pub. L. 105–33 substituted "September 30, 2002." for "September 30, 1998." (Balanced Budget Act of 1997) Law text · (e)

1996

• Pub. L. 104–208 inserted "or the Holding Company of the Student Loan Marketing Association, including any subsidiary of the Holding Company, created pursuant to section 1087–3 of this title" after "Student Loan Marketing Association". (Magnuson-Stevens Fishery Conservation and Management Act) Law text · (a)

1994

• Pub. L. 103–382 added subpar. (D). · (a)

1993

• Pub. L. 103–66, §4046(a)(1), amended heading. · (a)
• Pub. L. 103–208, §2(c)(33), substituted "defaulted borrower who has made arrangements to repay the obligation on the defaulted loans satisfactory to the holders of the defaulted loans" for "delinquent or defaulted borrower who will reenter repayment through loan consolidation". S… · (a)
• Pub. L. 103–66, §4046(a)(1), amended subpar. (A) generally. Prior to amendment, subpar. (A) read as follows: "For the purpose of this section, the term 'eligible borrower' means a borrower who, at the time of application for a consolidation loan— · (a)
• Pub. L. 103–66, §4046(b)(2), struck out at end "Nothing in this section shall be interpreted to authorize the Secretary to require lenders, holders, or guarantors of consolidated loans to receive, to maintain, or to make reports with respect to preexisting records relating to… · (a)
• Pub. L. 103–208, §2(c)(34), struck out before semicolon at end ", except for loans made to parent borrowers under section 1078–2 of this title as in effect prior to October 17, 1986". · (a)
• Pub. L. 103–208, §2(c)(35), substituted "part A" for "part C" before "of title VII of the Public Health Service Act". · (a)
• Pub. L. 103–66, §4046(a)(2)(A), inserted "with income-sensitive repayment terms" after "obtain a consolidation loan" in subpar. (A)(ii), added subpar. (E), and redesignated former subpar. (E) as (F). · (b), (E), (F)
• Pub. L. 103–66, §4046(a)(2)(B), amended subpar. (C) generally. Prior to amendment, subpar. (C) read as follows: "provides that periodic installments of principal need not be paid, but interest shall accrue and be paid by the Secretary, during any period for which the borrower wou… · (b)
• Pub. L. 103–66, §4046(a)(2)(C), added par. (5). · (b)
• Pub. L. 103–66, §4046(a)(3)(A), amended subpars. (B) and (C) generally. Prior to amendment, subpars. (B) and (C) read as follows: · (c), (C)
• Pub. L. 103–208, §2(c)(36), inserted period at end of cl. (vi). See Codification note above. · (c)
• Pub. L. 103–66, §4046(a)(3)(B)(i), in introductory provisions substituted "income-sensitive repayment schedules, established by the lender in accordance with the regulations of the Secretary. Except as required by such income-sensitive repayment schedules, or by the terms of repayment pursuant to i… · (c)
• Pub. L. 103–66, §4046(a)(3)(B)(ii), (iii), redesignated subpar. (C) as (B) and struck out former subpar. (B) which read as follows: "Unless a consolidation loan under subparagraph (A)(ii) will be used to discharge at least $5,000 of loans made under this part, such loan shal… · (c), (C)
• Pub. L. 103–208, §2(c)(37), inserted "be an amount" before "equal to". · (c)
• Pub. L. 103–66, §4046(a)(3)(C), inserted "except as required by the terms of repayment pursuant to income contingent repayment offered by the Secretary under subsection (b)(5)," before "the lender". · (c)
• Pub. L. 103–66, §4106(a), added subsec. (f). · (f)

1992

• Pub. L. 102–325, §419(a), substituted "Federal consolidation" for "Consolidation" in section catchline.
• Pub. L. 102–325, §419(b)(1)(A), substituted "$7,500" for "$5,000". · (a)
• Pub. L. 102–325, §419(b)(1)(B), amended cl. (ii) generally. Prior to amendment, cl. (ii) read as follows: "is in repayment status, or in a grace period preceding repayment, and is not delinquent with respect to any required payment on such indebtedness by more than 90 days." · (a)
• Pub. L. 102–325, §419(c), amended subpar. (B) generally. Prior to amendment, subpar. (B) read as follows: "An individual's status as an eligible borrower under this section terminates upon receipt of a consolidation loan under this section except with respect to eligible student … · (a)
• Pub. L. 102–325, §419(d), added subpar. (C). · (a)
• Pub. L. 102–325, §419(b)(2), amended subpar. (A) generally. Prior to amendment, subpar. (A) read as follows: "made, insured, or guaranteed under this part, except for loans made to parent borrowers under section 1078–2 of this title, including loans made to parent borrowers under… · (a)
• Pub. L. 102–325, §419(e), amended subpar. (C) generally. Prior to amendment, subpar. (C) read as follows: "provides that periodic installments of principal need not be paid, but interest shall accrue and be paid, during any period for which the borrower would be eligible for a de… · (b)
• Pub. L. 102–325, §419(f), substituted "which shall include" for "which may include" in first sentence, inserted second sentence, and struck out former second sentence which read as follows: "Such repayment terms shall require that if the sum of the consolidation loan and the amou… · (c)
• Pub. L. 102–408, §306(a), added subsec. (d). Former subsec. (d) redesignated (e). · (d)
• Pub. L. 102–325, §419(g), substituted "September 30, 1998" for "September 30, 1992". · (d)
• Pub. L. 102–408, §306(b), which directed the substitution of "1997" for "1992", could not be executed because "1992" did not appear in text subsequent to the amendment by Pub. L. 102–325, §419(g). See above. · (e)
• Pub. L. 102–408, §306(a)(1), redesignated subsec. (d) as subsec. (e). · (e)

1987

• Pub. L. 100–50, §10(s)(1), which directed the amendment of subpar. (C) by substituting "(C), (E), and (J)" for "(C) and (E)", was executed by substituting the new language for "(C), and (E)", as the probable intent of Congress. · (a)
• Pub. L. 100–50, §10(s)(2), struck out cl. (iii) which read as follows: "is not a parent borrower under section 1078–2 of this title." · (a)
• Pub. L. 100–50, §10(s)(3), substituted "eligible student loans received" for "loans received under this subchapter", "under this subchapter" for "under this part", and ", 1078(b)(1)(B), 1078–1(b)(2), and 1087dd(a)(2) of this title" for "and 1078(b)(1)(B) of this title", and inser… · (a)
• Pub. L. 100–50, §10(s)(4), inserted exception for loans made to parent borrowers under section 1078–2 of this title. · (a)
• Pub. L. 100–50, §10(s)(5), in cl. (i), substituted "subsection (a)(3)" for "subsection (a)(2)" and, in cl. (ii), substituted "all eligible student loans received by the eligible borrower" for "all loans received by the eligible borrower under this subchapter". · (b)
• Pub. L. 100–50, §10(s)(6), substituted "equal to or greater" for "more" the first time appearing, as the probable intent of Congress. · (c)
• Pub. L. 100–50, §10(s)(7), inserted ", but a fee may be payable by the lender to the guaranty agency to cover the costs of increased or extended liability with respect to such loan" before period at end. · (c)