2018 US Code
Title 20 - Education
Chapter 28 - Higher Education Resources and Student Assistance
Subchapter IV - Student Assistance
Part E - Federal Perkins Loans
Sec. 1087gg - Collection of defaulted loans: Perkins Loan Revolving Fund
| 20 U.S.C. § 1087gg (2018) |
| §1087gg. Collection of defaulted loans: Perkins Loan Revolving Fund |
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(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 loansThe 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. |
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(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.) |
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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. AMENDMENTS2009—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 AMENDMENTAmendment 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 AMENDMENTAmendment 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 AMENDMENTAmendment 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 BALANCEPub. 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." |
| 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 E - Federal Perkins Loans Sec. 1087gg - Collection of defaulted loans: Perkins Loan Revolving Fund |
| section 1087gg |
| 2018 |
| January 14, 2019 |
| No |
| standard |
| 93 Stat. 352 94 Stat. 1442 100 Stat. 1453, 354 106 Stat. 584 112 Stat. 1728 123 Stat. 1947 |
| Public Law 89-329, Public Law 96-49, Public Law 96-374, Public Law 99-272, Public Law 99-498, Public Law 102-325, Public Law 105-244, Public Law 110-315, Public Law 111-39 |
