Sec. 102. Reinstatement of the 6-year Statute of Limitations for student loans
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Subsection
(a)of section 484A of the Higher Education Act of 1965 ( 20 U.S.C. 1091a(a) ) is amended to read as follows: Notwithstanding any Federal or State statutory, regulatory, or administrative limitation on the period within which debts may be enforced— an institution that receives funds under this title may file a suit or initiate or take another action for collection of a refund due from a student on a grant made, or work assistance awarded, under this title, during the 6-year period beginning on the day after the refund first became due (exclusive of period during which the State statute of limitations otherwise applicable to a suit under this paragraph would be tolled under State law); a guaranty agency that has an agreement with the Secretary under section 428(c) may file a suit or initiate or take another action for collection of the amount due from a borrower on a loan made under part B during the 6-year period beginning on the day after such guaranty agency reimburses the previous holder of the loan for its loss on account of the default of the borrower (exclusive of period during which the State statute of limitations otherwise applicable to a suit under this paragraph would be tolled under State law); an institution that has an agreement with the Secretary pursuant to section 487 may file a suit or initiate or take another action for collection of the amount due from a borrower on a loan made under part D or E after the default of the borrower on such loan during the 6-year period beginning on the day after the date of the default of the borrower with respect to such amount (exclusive of period during which the State statute of limitations otherwise applicable to a suit under this paragraph would be tolled under State law); or the Secretary, the Attorney General, or the administrative head of another Federal agency, as the case may be, may file a suit or initiate or take another action for collection of a refund due from a student on a grant made under this title, or for the repayment of the amount due from a borrower on a loan made under this title that has been assigned to the Secretary under this title, during the 6-year period beginning on the day after the refund or the amount first became due. .
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Sec. 102
Reinstatement of the 6-year Statute of Limitations for student loans
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