Sec. 2. Termination of authority to make Federal Direct Stafford Loans, Federal Direct Unsubsidized Stafford Loans, and Federal Direct PLUS Loans to students under the William D. Ford Federal Direct Loan Program
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Section 455(a) of the Higher Education Act of 1965 ( 20 U.S.C. 1087e(a) ) is amended by adding at the end the following: Notwithstanding any provision of this part or part B, for any period of instruction beginning on or after July 1, 2018— a student shall not be eligible to receive a Federal Direct Stafford Loan under this part; and a student shall not be eligible to receive a Federal Direct Unsubsidized Stafford Loan or Federal Direct PLUS Loan under this part, except as provided in subparagraph (B).
Subparagraph (A)(ii) shall not be applicable with respect to the following: A student who, as of July 1, 2018, has an outstanding balance of principal or interest owing on any loan made, insured, or guaranteed under part B or this part may continue to be eligible to borrow a loan under this part, except for a Federal Direct Stafford Loan, in accordance with subparagraph
(C)until June 30, 2020. An excepted PLUS loan or excepted consolidation loan (as such terms are defined in section 493C(a)) under this part that is made to a parent on behalf of an undergraduate dependent student. A Federal Direct Consolidation Loan under this part. The maximum annual amount of Federal Direct Unsubsidized Stafford Loans a student described in subparagraph (B)(i) may borrow in an academic year (as defined in section 481(a)(2)) or its equivalent shall be the maximum annual amount for such student determined under section 428H, plus an amount equal to the amount of Federal Direct Stafford Loans the student would have received in the absence of subparagraph (A)(i). .
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Sec. 2
Termination of authority to make Federal Direct Stafford Loans, Federal Direct Unsubsidized Stafford Loans, and Federal Direct PLUS Loans to students under the William D. Ford Federal Direct Loan Program
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