Page:United States Statutes at Large Volume 100 Part 1.djvu/390

 100 STAT. 354

PUBLIC LAW 99-272—APR. 7, 1986

day after the day on which the installment was due and to notify the borrower of the assessment of the charge; or "(B) to make the amount of the charge payable to the institution not later than the due date of the next installment.". SEC. 16029. REFERRAL OF NDSL LOANS FOR COLLECTION. Section 467 of the Act is amended to read as follows: "COLLECTION OF DEFAULTED LOANS

20 USC I087gg. 20 USC 1087CC.

"SEC. 467. (a) 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 463(a), 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) The Secretary shall continue to attempt to collect any loan referred, transferred, or assigned under paragraph (5)(A), (5)(B)(i), or (6) of section 463(a) until all appropriate collection efforts, as determined by the Secretary, have been expended.".

Subtitle C—Savings Related to General Provisions 20 USC 1089.

20 USC 1091.

SEC. 1603L EXCLUSION OF LIQUIDATION PROCEEDS FROM FAMILY CONTRIBUTION COMPUTATIONS. Section 482 of the Act is amended by adding at the end thereof the following new subsection: "(f) The Secretary shall, within 30 days after the date of enactment of this subsection, promulgate special regulations to permit, in the computation of family contributions for the programs under subpart 1 of part A and part B of this title for any academic year beginning on or after July 1, 1985, the exclusion from family income of any proceeds of a sale of farm or business assets of that family if such sale results from a voluntary or involuntary foreclosure, forfeiture, or bankruptcy.". SEC. 16032. ADDITIONAL ELIGIBILITY REQUIREMENTS FOR STUDENT LOANS. (a) STUDENT IDENTIFICATION.—Section 484(a) of the Act is amended— (1) by striking out the word "such" each place it appears in paragraph (4) and inserting in lieu thereof "any"; and (2) by striking out "(which need not be notarized)" in paragraph (5) and inserting in lieu thereof "(which need not be notarized but which shall include such student's social security number or, if the student does not have a social security number, such student's student identification number)". (b) EuGiBiLiTY DETERMINATIONS.—Section 484

of

the

Act

is

amended by redesignating subsection (b) as subsection (c) and by inserting after subsection (a) the following new subsection:

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