Page:United States Statutes at Large Volume 106 Part 1.djvu/555

 PUBLIC LAW 102-325—JULY 23, 1992 106 STAT. 523 tion of higher education, the guaranty agency shall notify the last such institution the student attended prior to the beginning of the repayment period of any loan made under this part, of— "(I) any sale or other transfer of the loan to another holder; and "(II) the address and telephone number by which contact may be made with such other holder concerning repayment of the loan, except that this subparagraph (F) shall only apply if the borrower is in the grace period described in section 427(a)(2)(B) or 428(b)(7) or is in repayment status.". (1) GUARANTY AGENCY INCENTIVE PAYMENTS.— Section 428(b)(3) of the Act is amended— 20 USC 1078. (1) by redesignating subparagraphs (B) and (C) as subparagraphs (C) and (D), respectively; and (2) by inserting after subparagraph (A) the following new subpsuragraph: "(B) offer, directly or indirectly, any premium, incentive payment, or other inducement to any lender, or any agent, employee, or independent contractor of any lender or guaranty agency, in order to administer or market loans made under this part (other than a loan made under section 428H or a loan made as part of a guaranty agency's lenderof-last-resort program) for the purpose of securing the designation of that guaranty agency as the insurer of such loans;", (m) ELIMINATION OF TEACHER DEFERMENT. —Section 428(b) of the Act is amended— (1) by striking paragraph (4); and (2) by redesignating paragraphs (5) and (6) as paragraphs (4) and (5), respectively. (n) PROCEDURES FOR DEFERMENTS. — Section 428(b)(4) of the Act (as redesignated in subsection (m)) is amended by adding at the end thereof the following new sentence: "Requests for deferment of repayment of loans under this part by students engaged in graduate or postgraduate fellowship-supported study (such as pursuant to a Fulbright grant) outside the United States shall be approved until completion of the period of the fellowship.". (o) INFORMATION FROM STATE LICENSING BOARDS. — Section 428(b) of the Act is further amended by inserting after paragraph (5) (as redesignated in subsection (m)) the following new paragraph: "(6) STATE GUARANTY AGENCY INFORMATION REQUEST OF STATE LICENSING BOARDS.— Each guargmty agency is authorized to enter into agreements with each appropriate State licensing board under which the State licensing board, upon request, will furnish the guaranty agency with the address of a student borrower in any case in which the location of the student borrower is unknown or unavailable to the guaranty agency.". (p) GUARANTY AGENCY AGREEMENTS.— (1) AUTHORITY TO ENTER INTO AGREEMENTS. — Section 428(c)(1)(A) of the Act is amended by striking the period at the end and inserting a comma and "or later than 45 days after the guaranty agency discharges its insurance obligation on the loan.".

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