Page:United States Statutes at Large Volume 106 Part 3.djvu/217

 PUBLIC LAW 102-408—OCT. 13, 1992 106 STAT. 2011 "(D) For purposes of subparagraph (A), a loan is made with respect to an eligible entity if— "(i) in the case of an eligible institution, the loan was made to students of the institution; "(ii) in the case of an eligible lender, the loan was made by the lender; and ''(iii) in the case of a holder, the loan was purchased by the holder. "SEC. 720. AUTHORIZATION OF APPROPRIATIONS. 42 USC 292p. "(a) IN GENERAL.—For fiscal year 1993 and subsequent fiscal years, there are authorized to be appropriated such simis as may be necessary for the adequacy of the student loan insurance account under this subpart and for the purpose of administering this subpart. "(b) AVAILABILITY OF SUMS.— Sums appropriated under subsection (a) shall remain available until expended. Subpart II—Federally-Supported Student Loan Funds "SEC. 721. AGREEMENTS FOR OPERATION OF SCHOOL LOAN FUNDS. 42 USC 292q. "(a) FUND AGREEMENTS.—The Secretary is authorized to enter into an agreement for the establishment and operation of a student loan fund in accordance with this subpart with any public or other nonprofit school of medicine, osteopathic medicine, dentistry, pharmacy, podiatric medicine, optometry, or veterinary medicine. "(b) REQUIREMENTS.—Each agreement entered into under this section shall— "(1) provide for establishment of a student loan fund by the school; "(2) provide for deposit in the fund of— "(A) the Federal capital contributions to the fund; "(B) an amount equal to not less than one-ninth of such Federal capital contributions, contributed by such institution; "(C) collections of principal and interest on loans made from the fund; "(D) collections pursuant to section 722(j); and "(E) any other earnings of the fund; "(3) provide that the fund shall be used only for loans to students of the school in accordance with the agreement and for costs of collection of such loans and interest thereon; "(4) provide that loans may be made from such funds only to students pursuing a full-time course of study at the school leading to a degree of doctor of medicine, doctor of dentistry or an equivalent degree, doctor of osteopathy, bachelor of science in pharmacy or an equivalent degree, doctor of pharmacy or an equivalent degree, doctor of podiatric medicine or an equivalent degree, doctor of optometry or an equivalent degree, or doctor of veterinary medicine or an equivalent degree; "(5) provide that the school shall advise, in writing, each applicant for a loan from the student loan fund of the provisions of section 722 under which outstanding loans from the student loan fund may be paid (in whole or in part) by the Secretary; and

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