Page:United States Statutes at Large Volume 86.djvu/305

 86 STAT.]

PUBLIC LAW 9 2 - 3 1 8 - J U N E 23, 1972

institution (which, for purposes of this paragraph, means the cost, for the period for which the loan is sought, of tuition, fees, room and board, and reasonable commuting costs) the expected family contribution with respect to such student plus any other resources or student aid reasonably available to such student, and "(/3) has provided the lender with a statement evidencing the determination made under clause (I)(a) of this paragraph and recommending a loan in the amount of such need; or " ( II) equal to or more than $15,000 and the eligible institution at which he has been accepted for enrollment or, in the case of a student who is attending such an institution, at which he is in good standing (as determined by such institution)— " (a) has determined that he is in need of a loan to attend such institution, " ( ^) has determined the amount of such need by subtracting from the estimated cost of attendance at such institution the expected family contribution with respect to such student plus any other resources or student aid reasonably available to such student, and "(y) has provided the lender with a statement evidencing the determination made under clause ( II) (/?) of this paragraph and recommending a loan in the amount of such need. In addition, the Commissioner shall pay an administrative cost allowance in the amount established by paragraph (2)(B) of this subsection with respect to loans to any student without regard to the borrower's need. For the purposes of this paragraph, the adjusted family income of a student shall be determined pursuant to regulations of the Commissioner in effect at the time of the execution of the note or written agreement evidencing the loan. Such regulations shall provide for taking into account such factors, including family size, as the Commissioner deems appropriate. In the absence of fraud by the lender, such determination of the need of a student under this paragraph shall be final insofar as it concerns the obligation of the Commissioner to pay the holder of a loan a portion of the interest on the loan.". (b) Section 4 2 8 (b)(1)(H) of such Act is amended to read as j» n

263

Administrative

cost allowance, payment.

79 Stat. 1242. 20 USC 1078.

follows: " (H) provides that the benefits of the loan insurance program will not be denied any student who has been determined (pursuant to section 428(a)(1)) to be in need of a loan except in the case of loans made by an instrumentality of a State or eligible institution;". (c) Section 427(a)(1) of such Act is amended by striking out", and (C) has provided the lender with a statement of the institution which sets forth a schedule of the tuition and fees applicable to that student and its estimate of the cost of board and room for such a student". TECHNICAL

Ante, p. 262. 20 USC 1077.

AMENDMENTS

SEC. 132D. Section 437 of such Act is amended to read as follows:

82 Stat. 1020. 20 USC 1087.

• • R E P A Y M E N T BY THE COMMISSIONER OF LOANS OF DECEASED OK DISABLED BORROWERS

"SEC. 437. If a student borrower who has received a loan described in clause (A), (B), or (C) of section 428(a)(1) dies or becomes permanently and totally disabled (as determined in accordance with 82-081 0 - 7 3 - 2 0

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