2018 US Code
Title 20 - Education
Chapter 28 - Higher Education Resources and Student Assistance
Subchapter IV - Student Assistance
Part D - William D. Ford Federal Direct Loan Program
Sec. 1087i - Authority to sell loans
| 20 U.S.C. § 1087i (2018) |
| §1087i. Authority to sell loans |
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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. |
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(Pub. L. 89–329, title IV, §459, as added Pub. L. 105–244, title IV, §455, Oct. 7, 1998, 112 Stat. 1718.) |
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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 DATESection 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. |
| United States Code, 2018 Edition, Title 20 - EDUCATION |
| Bills and Statutes |
| United States Code |
| Y 1.2/5: |
| Title 20 - EDUCATION CHAPTER 28 - HIGHER EDUCATION RESOURCES AND STUDENT ASSISTANCE SUBCHAPTER IV - STUDENT ASSISTANCE Part D - William D. Ford Federal Direct Loan Program Sec. 1087i - Authority to sell loans |
| section 1087i |
| 2018 |
| January 14, 2019 |
| No |
| standard |
| 106 Stat. 575 112 Stat. 1718 |
| Public Law 89-329, Public Law 102-325, Public Law 103-66, Public Law 105-244 |
