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Code · BILL · 116th Congress · S. 968 (Introduced in Senate) — To provide for institutional risk-sharing in the Federal student loan programs. · Sec. 5

Sec. 5. Financial responsibility

56 words·~1 min read·/bill/116/s/968/is/section-5

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Section 498(c)(1) of the Higher Education Act of 1965 ( 20 U.S.C. 1099c(c)(1) ) is amended by striking subparagraph
(C)and inserting the following: to meet all of its financial obligations, including institutional risk-sharing payments, refunds of institutional charges, and repayments to the Secretary for liabilities and debts incurred in programs administered by the Secretary. .
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Sec. 5
Financial responsibility
U.S.C.§ 1099c
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