Page:United States Statutes at Large Volume 122.djvu/3141

 12 2 STA T .3 11 8PUBLIC LA W 11 0– 31 5— AU G .1 4, 2008 defin ed in s e ct i o n 102, t ha t r ecei v es an yF edera l f u ndin g or assistance .‘ ‘ (3)EDUCATIONL OAN. —T he ter m ‘education loan ’ (e x ce p t w hen used as part of the term ‘private education loan’) means— ‘‘( A ) any loan made, insured, or guaranteed under part B of title IV; ‘‘(B) any loan made under part D of title IV; or ‘‘( C ) a private education loan. ‘‘( 4 ) ELI G I B L E LENDE R .—The term ‘eligi b le lender’ has the meaning given such term in section 43 5 (d). ‘‘(5) IN S TITUTION - A F FILIATED ORGANI Z ATION.—The term ‘institution-affiliated organi z ation’— ‘‘(A) means any organization that— ‘‘(i) is directly or indirectly related to a covered institution; and ‘‘(ii) is engaged in the practice of recommending, promoting, or endorsing education loans for students attending such covered institution or the families of such students; ‘‘(B) may include an alumni organization, athletic organization, foundation, or social, academic, or profes- sional organization, of a covered institution; and ‘‘(C) notwithstanding subparagraphs (A) and (B), does not include any lender with respect to any education loan secured, made, or extended by such lender. ‘‘( 6 ) L ENDER.—The term ‘lender’ (except when used as part of the terms ‘eligible lender’ and ‘private educational lender’)— ‘‘(A) means— ‘‘(i) in the case of a loan made, insured, or guaran- teed under part B of title IV, an eligible lender; ‘‘(ii) in the case of any loan issued or provided to a student under part D of title IV, the S ecretary; and ‘‘(iii) in the case of a private education loan, a private educational lender as defined in section 140 of the Truth in Lending Act; and ‘‘(B) includes any other person engaged in the business of securing, ma k ing, or extending education loans on behalf of the lender. ‘‘( 7 ) O FFICER.—The term ‘officer’ includes a director or trustee of a covered institution or institution-affiliated organiza- tion, if such individual is treated as an employee of such covered institution or institution-affiliated organization, respectively. ‘‘( 8 ) P REFERRED LENDER ARRANGE M ENT.—The term ‘pre- ferred lender arrangement’— ‘‘(A) means an arrangement or agreement between a lender and a covered institution or an institution-affiliated organization of such covered institution— ‘‘(i) under which a lender provides or otherwise issues education loans to the students attending such covered institution or the families of such students; and ‘‘(ii) that relates to such covered institution or such institution-affiliated organization recommending, promoting, or endorsing the education loan products of the lender; and ‘‘(B) does not include—

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