Page:United States Statutes at Large Volume 106 Part 1.djvu/665

 PUBLIC LAW 102-325—JULY 23, 1992 106 STAT. 633 20 USC 1098a. (including the National Student Loan Database) and facilitating Department of Education oversight; (C) simplification of the repayment process to minimize borrower conmsion, including encouragement of single holder ownership of all of an individual's loans; "(D) encouragement of efficient utilization of loan programs to minimize multiple program borrowing in postsecondary education; and "(E) other proposals which are designed to reduce the administrative burdens on, and paperwork required of, students, educational institutions, guaranty agencies, lenders, secondary markets, and the Secretary submitted in response to a general solicitation by the Advisory Committee. "(2) The Advisory Committee shall consult with the Committee on Education and Labor of the House of Representatives and the Committee on Labor and Human Resources of the Senate in carry- ing out the study required by this subsection. (3) The Advisory Committee shall, not later than 1 year after Reports, the date of enactment of this Act, prepare and submit to the Committee on Education and Labor of the House of Representatives and the Committee on Labor and Human Resources of the Senate a report on the study required by this subsection.". SEC. 497. REGIONAL MEETINGS; NEGOTIATED RULEMAKING; ADMINIS- TRATIVE EXPENSES. Part G of title IV of the Act is further amended by adding at the end the following new sections: "SEC. 492. REGIONAL MEETINGS AND NEGOTIATED RULEMAKING. "(a) MEETINGS. — "(1) IN GENERAL. —The Secretary shall convene regional meetings to obtain public involvement in the development of proposed regulations for parts B, G, and H of this title. Such meetings shall include individuals and representatives of the groups involved in student financial assistance programs under this title, such as students, legal assistance organizations that represent students, institutions of higher education, guaranty agencies, lenders, secondary markets, loan servicers, guaranty agency servicers, and collection agencies. "(2) ISSUES.—During such meetings, the Secretary shall provide for a comprehensive discussion and exchange of information concerning the implementation of parts B, G, and H, as amended by the Higher Education Amendments of 1992. The Secretary shall take into account the information received at such meetings in the development of proposed regulations and shall publish a summary of such information in the Federal Register together with such proposed regulations. "(b) DRAFT REGULATIONS. —After holding regional meetings and before publishing proposed regulations in the Federal Register, the Secretary shall prepare draft regulations implementing parts B, G, and H of this title as amended by the Higher Education Amendments of 1992 and shall submit such regulations to a negotiated rulemaking process. The Secretary shall follow the guidance provided in sections 305.82-4 and 305.85-5 of chapter 1, Code of Federal Regulations, and any successor recommendation, regulation, or law. Participants in the negotiations process shall be chosen by the Secretaryfi*omindividuals nominated by groups participating in the regional meetings described in subsection (a)(1), and shall Federal Register, publication.

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