Sec. 4623. Misrepresentation and substantial misrepresentation defined
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/bill/116/hr/4674/ih/section-4623A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 487(c)(3) of the Higher Education Act of 1965 ( 20 U.S.C. 1094(c)(3) ) is amended— in subparagraph (B)(i)(II), by striking $25,000 and inserting $60,000 ; and by adding at the end the following: In this paragraph: The term misleading means having the likelihood or tendency to mislead under the circumstances. The term misrepresentation — means any false, erroneous, or misleading statement an institution, one of its representatives, or a third-party servicer (as defined in section 481(c)) makes directly or indirectly to a student, prospective student or any member of the public, or an accrediting agency, a State agency, or to the Secretary; and includes any statement that omits information in such a way as to make the statement false, erroneous, or misleading.
The term statement means any communication made in writing, visually, orally, or through other means. The term substantial misrepresentation means any misrepresentation on which the person to whom such misrepresentation was made could reasonably be expected to rely, or has reasonably relied, to that person's detriment. .
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Sec. 4623
Misrepresentation and substantial misrepresentation defined
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