Page:United States Statutes at Large Volume 94 Part 2.djvu/154

 94 STAT. 1432 20 USC 1078. 20 USC 1085. Ante, p. 1430.

PUBLIC LAW 96-374—OCT. 3, 1980

State of an agency which would have an agreement pursuant to section 428(b) of tnis part which would have the responsibility of developing local sources of funds for student loans.". (2) Section 435(g)(l) of the Act is amended by striking out "and" at the end of subparagraph (E), by striking out the period at the end of subparagraph (F)> and by adding at the end thereof the following: «(Q) fyj, purposes of making loans under section 439(o) and (q), the Student Loan Marketing Association; and "(H) for purposes of making loans under section 428(j), a State agency or a nonprofit private institution or organization having an agreement under section 428(b).". PROMPT DUE DIUGENCE DETERMINATIONS

20 USC 1080.

SEC. 422. Section 43(Ka) of the Act is amended by adding at the end thereof the following new sentence: "The Secretary shall make the determination required to carry out the provisions of this section not later than ninety days after the notification by the insurance beneficiary and shall make payment in full on the amount of the beneficiarys loss pending completion of his due diligence investigation.". MISCELLANEOUS AMENDMENTS

20 USC 1077. Post, p. 1448. 20 USC 1078. Post, p. 1445.

Ante, p. 1424.

SEC. 423. (a)(1) Section 427(a)(l) of the Act is amended to read as follows: "(1) made to a student who (A) is an eligible student under section 484, and (B) has agreed to notify promptly the holder of the loan concerning any change of address; and. (2) Section 428(a)(2)(B)(i) of the Act is amended to read as follows: "(i) a student's estimated cost of attendance means the cost of attendance for such student determined in accordance ^ t h section 482(d);". (b) The first sentence of section 428(c)(l)(A) of the Act is amended by striking out everything after "of any insured loan" and inserting in lieu thereof a period. (c) Section 428(e) of the Act is amended to read as follows: "(e) From funds appropriated to carry out this part in any fiscal year, the Secretai^ shall pay to each eligible institution the amount of $10 per acadenuc year for each student enrolled in that institution who is in receipt of a loan described in paragraph (1) of subsection (a) of t^jg section or made under section 428B, for that year. Payments received by an institution under this subsection shall be used solely for the purpose of offsetting the costs to the institution for the program under this part.". (d) Section 428(f) of the Act is amended by adding at the end thereof the following new paragraph: "(5)(A) The Secretary shall make payments in accordance with this paragraph to an agency, institution, or organization in any State which has an agreement under subsection (b) of this section which provides a lender referral service for students who meet the requirements of subparagraph (B). "(B) A student is eligible to apply for lender referral services to an agency, institution, or organization in a State if (i) such student is either a resident of such State or is accepted for enrollment in or is attending an eligible institution in such State, and (ii) such student has sought and was unable to find a lender willing to make a loan under this part.

�