Sec. 502. TERMINATION OF AUTHORITY TO MAKE INTEREST SUBSIDIZED LOANS TO GRADUATE AND PROFESSIONAL STUDENTS
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## SEC. 502 TERMINATION OF AUTHORITY TO MAKE INTEREST SUBSIDIZED LOANS TO GRADUATE AND PROFESSIONAL STUDENTS 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 new paragraph: > > #### “(3) Termination of authority to make interest subsidized loans to graduate and professional students > > > ##### “(A) In general > > Subject to subparagraph
(B)and notwithstanding any provision of this part or part B, for any period of instruction beginning on or after July 1, 2012— > > > ###### “(i) > > a graduate or professional student shall not be eligible to receive a Federal Direct Stafford loan under this part; and > > > ###### “(ii) > > the maximum annual amount of Federal Direct Unsubsidized Stafford loans such a student may borrow in any 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 this subparagraph. > > > ##### “(B) Exception > > Subparagraph
(A)shall not apply to an individual enrolled in course work specified in paragraph (3)(B) or (4)(B) of section 484(b).” > .
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Sec. 502
TERMINATION OF AUTHORITY TO MAKE INTEREST SUBSIDIZED LOANS TO GRADUATE AND PROFESSIONAL STUDENTS
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