Page:United States Statutes at Large Volume 100 Part 1.djvu/384

 100 STAT. 348 20 USC 1087-1. Ante, p. 343. 20 USC 1078-3 "°*®-

PUBLIC LAW 99-272—APR. 7, 1986

(3) Section 438(b)(2) of the Act is amended by adding at the end thereof the following new subparagraph: "(C) In the case of loans made in accordance with section 428C, the applicable per centum to be added under clause (iii) of subparagraph (A) shall be 3 per centum.". (d) COST EVALUATION REPORT.—The Secretary of Education shall evaluate the cost, efficiency, and impact of the consolidation loan program established by the amendments made by this section and shall report to the Congress not later than June 30, 1988, on the findings and recommendations required by this subsection. SEC. 16018. EXTENSION OF PROGRAM.

20 USC 1074.

20 USC 1078.

20 USC 1087-2.

(a) EXTENSION OF AUTHORITY.—Part B of title IV of the Act is amended— (1) in section 424(a)— (A) by striking out "1986" and inserting in lieu thereof "1988"; (B) by striking out "1990" and inserting in lieu thereof "1992"; (2) in section 428(a)(5)— (A) by striking out "1986" and inserting in lieu thereof "1988"; (B) by striking out "1990" and inserting in lieu thereof "1992"; and (3) in section 439(1), by striking out "1988" and inserting in lieu thereof "1990". (b) EXTENSION OF FAMILY CONTRIBUTION SCHEDULES.—Section 9 of

20 USC 1078 ^'^^-

Banks and banking.

the Student Financial Assistance Technical Amendments Act of 1982 is amended— (1) in subsection (a), by striking out "and from July x, 1986, through June 30, 1987," and inserting in lieu thereof "from July 1, 1986, through June 30, 1987, from July 1, 1987, through June 30, 1988, from July 1, 1988, through June 30, 1989, and from July 1, 1989, through June 30, 1990,"; and (2) in subsection (c)— (A) by striking out "and" at the end of paragraph (3); (B) by striking out the comma at the end of paragraph (4) and inserting in lieu thereof a semicolon; and (C) by inserting after such paragraph the following new paragraphs: "(5) April 1, 1987, for the period of instruction from July 1, 1987, through June 30, 1988; "(6) April 1, 1988, for the period of instruction from July 1, 1988, through June 30, 1989; and "(7) April 1, 1989, for the period of instruction from July 1, 1989, through June 30, 1990,". SEC. 16019. SAVINGS FROM OPERATIONS OF THE STUDENT LOAN MARKETING ASSOCIATION. (a) GENERAL RuLE.—In order to Contribute to carrying out the directions in the first concurrent resolution on the budget for the fiscal year 1986 (S. Con. Res. 32, 99th Congress, agreed to August 1, 1985) designed to reduce the Federal budget deficit, the Student Loan Marketing Association shall, during the fiscal year 1986, reduce the level of obligations owed to the Federal Financing Bank by $30,000,000 which, but for this section, will be paid to the Federal Financing Bank after October 1, 1986,

�