Page:United States Statutes at Large Volume 106 Part 3.djvu/203

 PUBLIC LAW 102-408—OCT. 13, 1992 106 STAT. 1997 need not be paia; "(iii) has agreed that all funds received under the proposed loan shall be used solely for repayment of interest due on previous loans made under this subpart; and "(iv) if required under section 3 of the Military Selective Service Act to present himself for and submit to registration under such section, has presented himself and submitted to registration under such section; "(2) evidenced by a note or other written agreement which— "(A) is made without security and without endorsement, except that if the borrower is a minor and such note or other written agreement executed by him would not, under the applicable law, create a binding obligation, an endorsement may be required; "(B) provides for repayment of the principal amount of the loan in installments over a period of not less than 10 years (unless sooner repaid) nor more than 25 years beginning not earlier than 9 months nor later than 12 months sSler the date of— "(i) the date on which— "(I) the borrower ceases to be a participant in an accredited internship or residency program of not more than four years in duration; "(II) the borrower completes the fourth year of an accredited internship or residency program of more than four years in duration; or "(III) the borrower, if not a participant in a program described in subclause (I) or (II), ceases to carry, at an eligible institution, the normal fulltime academic workload as determined by the institution; or "(ii) the date on which a borrower who is a graduate of an eli^ble institution ceases to be a participant in a fellowship training program not in excess of two years or a participant in a full-time educational activity not in excess of two years, which— "(I) is directly related to the health profession for which the borrower prepared at an eligible institution, as determined by the Secretary; and "(II) may be engaged in by the borrower during such a two-year period which begins within twelve months after the completion of the borrower's participation in a program described in subclause (I) or (II) of clause (i) or prior to the completion of the borrower's participation in such program, except as provided in subparagraph (C), except that the period of the loan may not exceed 33 years from the date of execution of the note or written agreement evidencing it, and except that the note or other written instrument may contain such provisions relating to repayment in the event of default in the payment of interest or in the pay- ment of the costs of insurance premiums, or other demult by the borrower, as may be authorized by regulations of the Secretary in effect at the time the loan is made;
 * (ii) is in a period during which, pursuant to paragraph (2), the principal amount of such previous loan

�