Page:United States Statutes at Large Volume 86.djvu/303

 86

STAT.]

PUBLIC LAW 92-318-JUNE 23, 1972

261

INSURED STUDENT LOANS—EXTENSION OF PKOGRA.Ar

SEC. 132. (a)(1) The first sentence of section 424(a) of the Higher Education Act of 1965 is amended to read as follows: "The total principal amount of new loans made and installments paid pursuant to lines of credit (as defined in section 435) to students covered by Federal loan insurance under this part shall not exceed $1,400,000,00<) for the fiscal year ending June 30, 1972, $1,600,000,000 for the fiscal year ending June 30, 1973, $1,800,000,000 for the fiscal year ending June 30, 1974. and $2,000,000,000 for the fiscal year ending June 30, 1975.'; (2) Such section 424(a) is further amended by striking out "June 30, 1975" and inserting in lieu thereof "June 30, 1979". (b) Paragraph (4) of section 428(a) of such Act is amended (1) by striking out "June 30, 1971" and inserting in lieu thereof "June 30, 1975" and (2) by striking out "shall end at the close of June 30, 1975" and inserting in lieu thereof "shall end at the close of June 30, 1979". (c) Section 433(c) of such Act is amended by striking out "two succeeding fiscal years" and inserting in lieu thereof "succeeding fiscal years ending prior to July 1, 1975". (d) The amendments made by this section shall be effective after June 30, 1971.

79 Stat. 1237; $2 Stat. 1020. 20 USC 1074. 20 USC 1085.

20 USC 1078.

82 Stat. 1024. 20 USC 1083. Effective date.

INCREASE IN LOAN LIMITATION IN EXCEPTIONAL (\\SES

SEC. 132A. (a)(1) Section 425(a) of the Higher Education Act of 1965 is amended by striking out "$1,500" and inserting in lieu thereof the following: "$2,500, except in cases where the Commissioner determines, pursuant to regulations prescribed by him, that a higher amount is warranted in order to carry out the purposes of this part with respect to students engaged in specialized training requiring exceptionally high costs of education". (2) The second sentence of section 425(a) of such Act is amended by inserting before the period a comma and the following: "in the case of any student who has not successfully completed a program of undergraduate education, and $10,000 in the case of any graduate or professional student (as defined by regulations of the Commissioner and including any loans which are insured by the Commissioner under this part or by a State or nonprofit institution or organization with which the Commissioner has an agreement under section 428(b) made to such person before he became a graduate or professional student)". (b)(1) Section 428(b)(1)(A) of such Act is amended (1) by striking out "$1,500" and inserting in lieu thereof the following: "$2,500. except in those cases where the Commissioner determines, pursuant to regulations prescribed by him, that a higher amount is warranted in order to carry out the purposes of this part with respect to students engaged in specialized training requiring exceptionally high costs of education)". (2) Section 428(b)(1)(a) of such Act is further amended by inserting before the semicolon the following: "in the case of any student who has successfully completed a program of undergraduate education, and $10,000 in the case of any graduate or professional student (as defined by regulations of the Commissioner and including any loans which are insured by the Commissioner under this part or by a State or nonprofit institution or organization with which the Commissioner has an agreement under this part made to such person before he became a graduate or professional student).". (c) The amendments made by subsections (a) and (b) shall be effective with respect to loans made after the enactment of this Act,

79 Stat. 1238. 20 USC 1075.

82 Stat. 1027.

79 Stat. 1240. 20 USC 1078.

82 Stat. 1027.

Effective date.

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