Sec. 231. Elimination of interest capitalization

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Section 428B(d)(2) ( 20 U.S.C. 1078–2(d)(2) ) is amended to read as follows: Interest on loans made under this section for which payments of principal are deferred pursuant to paragraph

(1)shall be paid monthly or quarterly, if agreed upon by the borrower and the lender. . Section 428C(b)(4)(C)(ii)(III) ( 20 U.S.C. 1078–3(b)(4)(C)(III) ) is amended by striking or capitalized, . Section 428H(d)(5) ( 20 U.S.C. 1078–8(d)(5) ) is amended by inserting before the date of enactment of the after REAL Reforms Act Interest capitalized . Section 428H(e)(2) ( 20 U.S.C. 1078–8(e)(2) ) is amended— in subparagraph (A), in the matter before clause (i), by striking , if agreed upon by the borrower and the lender and all that follows through clause (ii)(IV) and inserting be paid monthly or quarterly, if agreed upon by the borrower and the lender. ; by striking subparagraph (B); and by redesignating subparagraph

(C)as subparagraph (B). Section 455(e)(5) ( 20 U.S.C. 1087e(e)(5) ) is amended by striking the last sentence and inserting No interest may be capitalized on such loan on or after the date of the enactment of the . REAL Reforms Act , and the Secretary shall promulgate regulations with respect to the treatment of accrued interest that is not capitalized Section 455(f)(1)(B) ( 20 U.S.C. 1087e(f)(1)(B) ) is amended by striking capitalized or . Section 493C(b)(3)(B) ( 20 U.S.C. 1098e(b)(3)(B) ) is amended by inserting shall accrue but not before be capitalized .

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U.S. Code

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20 USC 1078–2(d)(2)
20 USC 1078–3(b)(4)(C)(III)
20 USC 1078–8(d)(5)
20 USC 1078–8(e)(2)

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Sec. 231

Elimination of interest capitalization

U.S.C.§ 1087e

U.S.C.§ 1098e

Cite20 USC 1078–2(d)(2)

Cite20 USC 1078–3(b)(4)(C)(III)

Cite20 USC 1078–8(d)(5)

Cite20 USC 1078–8(e)(2)

Cites 6Cited by 0 across 0 sources