Page:United States Statutes at Large Volume 94 Part 2.djvu/176

 94 STAT. 1454

PUBLIC LAW 96-374—OCT. 3, 1980

shall, upon conviction thereof, be fined not more than $1,000 or imprisoned not more than one year, or both. "(d) Any person who knowingly and willfully destroys or conceals any record relating to the provision of assistance under this title with intent to defraud the United States or to prevent the United States from enforcing any right obtained by subrogation under this part, shall upon conviction thereof, be fined not more than $10,000 or imprisoned not more than five years, or both. NATIONAL COMMISSION ON STUDENT FINANCIAL ASSISTANCE

Establishment. 20 USC 1098. Appointments.

Studies.

"SEC. 491. (a) There is established, as an independent agency within the executive branch, a National Commission on Student Financial Assistance (referred to in this section as the 'Commission'). "(b)(l) The Commission shall be composed of twelve members. Four of the members shall be appointed by the President. Four of the members shall be appointed by the Speaker of the House, including two Members of the House, one from each political party. Four of the members shall be appointed by the President pro tempore of the Senate, including two Members of the Senate, one from each political party. "(2) The Chairman shall be designated by the President from among the members appointed by him. If the President has not appointed four members of the Commission and designated a Chairman within sixty days of the enactment of this Act, the members of the Commission appointed by the Speaker of the House and the President pro tempore of the Senate shall elect a Chairman who shall continue to serve for the duration of the Commission. "(8) Any vacancy in the Commission shall be filled by appointment of the same person who appointed the person who has left the Commission. "(c)(1) The Commission shall make a study of the following issues: "(A) more effective means to reduce default, fraud, abuse, and delinquency in the programs authorized by this title; "(B) the appropriate balance between loans and other sources of financing postsecondary education from the point of view of the needs and welfare of students and their parents; "(C) the adequacy of capital to serve the postsecondary educational needs of students or their parents for credit; if adequate credit is available, the likelihood it will continue to remain available; if adequate credit is not available, the likelihood it will become available and the steps that can be taken to provide adequate credit for the postsecondary educational needs of students; "(D) the impact of various levels of student borrowing, grants, gift aid, and employment on the educational performance, future career choices, and future educational choices of students; "(E) the impact of various levels of parent borrowing for postsecondary education on parents; "(F) the appropriate annual and aggregate self-help limits and gift aid for parents, dependent students, and independent students; "(G) the most appropriate mechanism for the effective and efficient origination, servicing, and collection of student loans and for the effective and efficient delivery of other forms of student assistance;

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