Page:United States Statutes at Large Volume 90 Part 2.djvu/789

 PUBLIC LAW 94-484—OCT. 12, 1976

90 STAT. 2257

specified in paragraph (7), the authority and functions set forth in Eeorganization Plan Numbered 14 of 1950 (15 F.K. 3176; 5 U.S.C. Appendix) and section 2 of the Act of June 13, 1934 (40 U.S.C. 276c)."; and (5) by striking out "725" in the last sentence and inserting in lieu thereof "702". (b) Section 726 is repealed. (c) Section 727(a) is amended by striking out "institutions" each time it appears and inserting in lieu thereof "entities". (d) Sections 727, 728, and 729 are redesignated as sections 724, 725, and 726, respectively.

Repeal. 42 USC 293f. 42 USC 293g. 42 USC 293g-293i.

TITLE IV—STUDENT ASSISTANCE; NATIONAL H E A L T H SERVICE CORPS INSURED LOANS TO STUDENTS

SEC. 401. (a) Effective October 1, 1976, subpart II of part C of title Repeal. VII is repealed. 42 USC 294g, (b) Effective October 1, 1977, part C of title VII is amended by— 294g note. (1) amending the heading for part C to read as follows: "PART C—STUDENT ASSISTANCE";

(2) redesignating subpart I of such part as subpart II, and by amending the heading for such subpart to read as follows: "Subpart II—Student Loans"; and (3) inserting immediately below the heading to such part the following new subpart: "Subpart I—Federal Program of Insured Loans to Graduate Students in Health Professions Schools "STATEMENT or PURPOSE AND APPROPRIATIONS AUTHORIZED

"SEC. 727. (a) The purpose of this subpart is to enable the Secre- 42 USC 294. tary to provide a Federal program of student loan insurance for students in eligible institutions. "(b) For the purpose of carrying out this subpart there are authorized to be appropriated (1) for the fiscal year ending September 30, 1978, to the student loan insurance fund (established by section 734) the sum of $1,500,000 and of such further sums, if any, as may become ^ necessary for the adequacy of student loan insurance fund and for the purpose of administering this subpart; and (2) for fiscal years thereafter such sums as may be necessary for the purpose of administering this subpart. Sums appropriated under this subsection shall remain available until expended. "SCOPE AND DURATION OF FEDERAL LOAN INSURANCE PROGRAM

"SEC. 728. (a) The total principal amount of new loans made and 42 USC 294a. installments paid pursuant to lines of credit (as defined in section 737) to students covered by Federal loan insurance under this subpart shall not exceed $500,000,000 for the fiscal year ending September 30, 1978; $510,000,000 for the fiscal year ending September 30, 1979; and $520,000,000 for the fiscal year ending September 30, 1980. Thereafter, Federal loan insurance pursuant to this subpart may be granted only

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