Page:United States Statutes at Large Volume 106 Part 3.djvu/214

 106 STAT. 2008 PUBLIC LAW 102-408—OCT. 13, 1992 42 USC 292k. 42 USC 292/. 42 USC 292m. out of activities under this subpart from the application of sections 517 and 547 of title 28 of the United States Code. "(3) To include in any contract for Federal loan insurance such terms, conditions, and covenants relating to repa}anent of principal and payments of interest, relating to his obligations and rights and to those of eligible lenders, and borrowers in case of default, and relating to such other matters as the Secretary determines to be necessary to assure that the purposes of this subpart will be achieved. Any term, condition, and covenant made pursuant to this paragraph or any other provisions of this subpart may be modified by the Secretary if the Secretary determines that modification is necessary to protect the financial interest of the United States. "(4) Subject to the specific limitations in the subpart, to consent to the modification of any note or other instrument evidencing a loan which has been insured by him under this subpart (including modifications with respect to the rate of interest, time of payment of any installment of principal and interest or any portion thereof, or any other provision). "(5) To enforce, pay, compromise, waive, or release any right, title, claim, lien, or demand, however acquired, including any equity or any right or redemption. "(b) ANNUAL BUDGET; ACCOUNTS. —The Secretary shall, with respect to the financial operations arising by reason of this subpart— "(1) prepare annually and submit a budget program as provided for wholly owned Government corporations by the Government Corporation Control Act; and "(2) maintain with respect to insurance under this subpart an integral set of accounts. "SEC. 712. PARTICIPATION BY FEDERAL CREDIT UNIONS IN FEDERAL, STATE, AND PRIVATE STUDENT LOAN INSURANCE PRO- GRAMS. unions shall, pursuant to regulations of the Administrator of the National Credit Union Administration, have power to make insured loans to eligible students in accordance with the provisions of this subpart relating to Federal insured loans. "SEC. 713. DETERMINATION OF ELIGIBLE STUDENTS. "For purposes of determining eligible students under this part, in the case of a public school in a State that offers an accelerated, integrated program of study combining undergraduate premedical education and medical education leading to advanced entry, b^ contractual agreement, into an accredited four-year school of medicine which provides the remaining training leading to a degree of doctor of medicine, whenever in this part a provision refers to a student at a school of medicine, such reference shall include only a student enrolled in any of the last four years of such accelerated, integrated program of study. "SEC. 714. REPAYMENT BY SECRETARY OF LOANS OF DECEASED OR DISABLED BORROWERS. "If a borrower who has received a loan dies or becomes permanently and totelly disabled (as determined in accordance with regulations of the Secretary), the Secretary shall discharge the
 * Notwithstanding any other provision of law, Federal credit

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