Page:United States Statutes at Large Volume 106 Part 1.djvu/656

 106 STAT. 624 PUBLIC LAW 102-325—JULY 23, 1992 SEC. 488. SIMPLIFICATION OF THE LENDING PROCESS FOR BORROW- ERS. Part G of title IV of the Act (20 U.S.C. 1088 et seq.) is amended by inserting after section 485B the following new section: 20 USC 1092c. «SEC. 485C. SIMPLIFICATION OF THE LENDING PROCESS FOR BORROW- ERS. "(a) ALL LIKE LOANS TREATED AS ONE.—To the extent practicable, and with the cooperation of the borrower, eligible lenders shall treat all loans made to a borrower under the same section of part B as one loan and shall submit one bill to the borrower tor the repayment of all such loans for the monthly or other similar period of repayment. Any deferments on one such loan will be considered a deferment on the total amount of all such loans. "(b) ONE LENDER, ONE GUARANTY AGENCY. —TO the extent practicable, and with the cooperation of the borrower, the guaranty agency shall ensure that a borrower only have one lender, one holder, one guaranty agency, and one servicer with which to maintain contact.. SEC. 489. TRAINING IN FINANCIAL AID SERVICES. Section 486 of the Act (20 U.S.C. 1093) is amended to read as follows: <<SEC. 486. TRAINING IN FINANCIAL AID SERVICES. "(a) PROGRAM AUTHORITY.— The Secretary is authorized to provide grants to appropriate nonprofit private organizations or combinations of such organizations to provide training for student financial aid administrators and TRIO personnel, at all levels of experience, who provide or are involved in student financial aid services. "(b) USE OF FUNDS. — Financial assistance under this section may be used for— "(1) the operation of short-term training institutes and special training programs for student financial aid administrators or TRIO personnel designed to^ "(A) improve the professional management skills of participants m such institutes and programs; "(B) improve the delivery of student services; "(C) improve students' or prospective students' information on the availability and operation of student financial assistance programs; and "(D) improve the understanding and knowledge of the participants concerning the legislative and regulatory requirements of the student financial assistance programs and changes in such requirements; and "(2) the development of appropriate training materials. "(c) LIMITATIONS.—Grants authorized under this section— "(1) shall be limited to not less than $1,000,000 in the case of single-year grants; "(2) shall be limited to not less than $1,000,000 per year in the case of multiple-year grants; "(3) shall be limited to a maximum of 3 years in the case of multiple-year grants; and "(4) may be renewed at the discretion of the Secretary. "(d) AUTHORIZATION OF APPROPRIATIONS AND USE OF FUNDS.— There are authorized to be appropriated $5,000,000 for fiscal year 1993 and such sums as may be necesseiry for each of the 4 succeeding fiscal years to carry out the provisions of this section.".

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