Page:United States Statutes at Large Volume 100 Part 2.djvu/251

 PUBLIC LAW 99-498—OCT. 17, 1986

100 STAT. 1353

(2) The definition of independent student contained in section 411F(12) of the Act as amended by this section shall apply with respect to the determination of such need for academic years beginning with academic year 1987-1988. (3) Section 411(c) of the Act as amended by this section shall apply only to individuals who receive a Pell Grant for the first time for a period of enrollment beginning on or after July 1, 1987. (4) Section 411(f) of the Act as amended by this section shall apply to the awarding of Pell Grants for periods of enrollment beginning on or after July 1, 1987. (5) Section 413C(c)(2) of the Act as amended by this section shall apply to the awarding of grants under subpart 2 of part A of title IV of the Act for periods of enrollment beginning on or after July 1, 1987. (6) The changes made in section 417D of the Act shall apply with respect to grants awarded under such section in fiscal year 1988 or any succeeding fiscal year.

20 USC 1070a-l note.

20 USC 1070a note. 20 USC 1070a note. 20 USC 1070b-2 note.

20 USC 1070d-lb note.

SEC. 402. EXTENSION OF GUARANTEED STUDENT LOAN PROGRAM.

(a) AMENDMENT.—Part B of title IV of the Act (20 U.S.C. 1071 et seq.) is amended to read as follows: 'PART B—GUARANTEED STUDENT LOAN PROGRAM STATEMENT OF PURPOSE; NONDISCRIMINATION; AND APPROPRIATIONS AUTHORIZED "SEC. 421. (a) PURPOSE; DISCRIMINATION PROHIBITED.—

f

"(1) PURPOSE.—The purpose of this part is to enable the Secretary— "(A) to encourage States and nonprofit private institutions and organizations to establish adequate loan insurance programs for students in eligible institutions (as defined in section 435), "(B) to provide a Federal program of student loan insurance for students or lenders who do not have reasonable access to a State or private nonprofit program of student loan insurance covered by an agreement under section 428(b), "(C) to pay a portion of the interest on loans to qualified students which are insured under this part, and "(D) to guarantee a portion of each loan insured under a program of a State or of a nonprofit private institution or organization which meets the requirements of section 428(a)(l)(B). "(2) DISCRIMINATION BY CREDITORS PROHIBITED.—No agency, organization, institution, bank, credit union, corporation, or other lender who regularly extends, renews, or continues credit or provides insurance under this part shall exclude from receipt or deny the benefits of, or discriminate against any borrower or applicant in obtaining, such credit or insurance on the bsisis of race, national origin, religion, sex, marital status, age, or handicapped status. "(b)

AUTHORIZATION OF APPROPRIATIONS.—For the

purpose

of

carrying out this part— "(1) there are authorized to be appropriated to the student loan insurance fund (established by section 431)(A) the sum of

State and local governments. Insurance. 20 USC 1071.

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