Page:United States Statutes at Large Volume 106 Part 1.djvu/644

 106 STAT. 612 PUBLIC LAW 102-325—JULY 23, 1992 hours, in length to be eligible to participate in the programs authorized under pMt B of this title.". 20 USC 1088. (f) THIRD PARTY SERVICER. — Section 481 of the Act is amended by adding the following new subsection after subsection (e): "(f) THIRD PARTY SERVICER. —For purposes of this title, the term 'third p2u*ty servicer' means any State or private, profit or nonprofit organization which enters into a contract with— "(1) any eligible institution of higher education to administer, through either manual or automated processing, any aspect of such institution's student assistance programs under this title; or "(2) any guaranty agency, or any eligible lender, to administer, through either manual or automated processing, any aspect of such guaranty agency's or lender's skident loan programs under part B of this title, including originating, guaranteeing, monitoring, processing, servicing, or collecting logins.". SEC. 482. MASTER CALENDAR. (a) AMENDMENT. — Section 482(c) of the Act (20 U.S.C. 1089(c)) is amended to read as follows: "(c) DELAY OF EFFECTIVE DATE OF LATE PimLicATiONS.— Any regulatory changes initiated by the Secretary affecting the programs pursuant to this title that have not been published in fmal form by December 1 prior to the start of the award year shall not become effective until the beginning of the second award year after such December 1 date.". (b) CONFORMING AMENDMENTS.— (1) Section 482(a)(1) of the Act is amended by striking "sections 411E and" each place it appears in subparagraphs (B) and (C) and inserting "section". (2) Section 482(b) of the Act is amended by striking "subpart 2" and inserting "subpart 3". SEC. 483. FORMS AND REGULATIONS. (a) FORMS AND PROCESSING. —Section 483 of the Act (20 U.S.C. 1090) is amended by striking subsections (a) and (b) and inserting ! the following: "SEC. 483. (a) COMMON FINANCIAL AID FORM AND PROCESSING. — "(1) SINGLE FORM REQUIRED. —The Secretary, in cooperation with representatives of agencies and organizations mvolved in student financial assistance, shall produce, distribute, and process free of charge a common financial reporting form to oe used to determine the need and eligibility of a student for financial assistance under parts A, C, D, and E of this title (other than under subpart 4 of part A) and to determine the need of a student for uie purpose of part B of this title. The Secretary may include on the form developed pursuant to this paragraph not more than eight nonfinancial data items selected in consultetion with the States to assist the States in awarding State student financial assistance. Such form shall satisfy the requirements of section 411(d) of this title. For the purpose of collecting eligibility and other data for the purpose of part B, the Secretary shall develop a separate, identifiable loan application document (pursuant to section 432(m)) that applicants or institutions in which the students are enrolled or accepted for enrollment shall submit directly to

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