Page:United States Statutes at Large Volume 106 Part 1.djvu/579

 PUBLIC LAW 102-325—JULY 23, 1992 106 STAT. 547 '*(iii) permit, to the maximum extent practicable, application for any loan under part B. "(C) APPROVAL OF FORM. —The Secretary shall approve a form for use not later than 360 days after the date of enactment of the Higher Education Amendments of 1992. "(D) SPECIAL RULE. —Nothing in this section shall be construed to Hmit the development of electronic forms and procedures. "(2) COMMON DEFERMENT FORM. —The Secretary, in cooperation with representatives of guaranty agencies, institutions of higher education, and lenders involved in loans made under pwrt B of this title, shall prescribe a common deferment reporting form to be used for the processing of deferments of loans made under this title. "(3) COMMON REPORTING FORMATS.— The Secretary shall pro- Regulations, mulgate standards including necessary rules, regulations (including the definitions of all relevant terms), and procedures so as to require all lenders and guaranty agencies to report information on all aspects of loans made under this part in uniform formats, so as to permit the direct comparison of data submitted by individual lenders, servicers, or guaranty agencies, "(n) DEFAULT REDUCTION MANAGEMENT.— "(1) AUTHORIZATION. —There are authorized to be appropriated $25,000,000 for fiscal year 1993 and each of the four succeeding fiscal years, for the Secretary to expend for default reduction management activities for the purposes of establishing a performance measure that will reduce defaults by 5 percent relative to the prior fiscal year. Such funds shall be in addition to, and not in lieu of, other appropriations made for such purposes. "(2) ALLOWABLE ACTIVITIES.—A l lowable activities for which such funds shall be expended by the Secretary shall include the following: (A) program reviews; (B) audits; (C) debt management programs; (D) training activities; and (E) such other management improvement activities approved by the Secretary. "(3) PLAN FOR USE REQUIRED.— The Secretary shall submit a plan, for inclusion in the materials accompanying the President's budget each fiscal year, detailing the expenditure of funds authorized by this section to accomplish the 5 percent reduction in defaults. At the conclusion of the fiscal year, the Reports. Secretary shall report the Secretary's findings and activities concerning the expenditure of funds and whether the performance measure was met. If the performance measure was not met, the Secretary shall report the following: "(A) why tjbe goal was not met, including an indication of any managerial deficiencies or of any legal obstacles; "(B) plans and a schedule for achieving the established performance goal; "(C) recommended legislative or regulatory changes necessary to achieve the goal; and "(D) if the performance standard or goal is impractical or infeasible, why that is the case and what action is recommended, including whether the goal should be changed or the program cdtered or eliminated. This report shall be submitted to the Appropriations Committees of the House of Representatives and me Senate and to

�