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Code · U.S. Code · Title 20 - EDUCATION · CHAPTER 28— HIGHER EDUCATION RESOURCES AND STUDENT ASSISTANCE · SUBCHAPTER IV— STUDENT ASSISTANCE · § 1087aa

§ 1087aa. Appropriations authorized

1,252 words·~6 min read·/usc/title-20/section-1087aa

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(a)Program authority The Secretary shall carry out a program assisting in the maintenance of funds at institutions of higher education for the making of loans to undergraduate students in need to pursue their courses of study in such institutions or while engaged in programs of study abroad approved for credit by such institutions. Loans made under this part shall be known as “Federal Perkins Loans”.
(b)Authority to make loans
(1)In general
(A)Loans for new undergraduate Federal Perkins Loan borrowers Through September 30, 2017, an institution of higher education may make a loan under this part to an eligible undergraduate student who, on the date of disbursement of a loan made under this part, has no outstanding balance of principal or interest on a loan made under this part from the student loan fund established under this part by the institution, but only if the institution has awarded all Federal Direct Loans, as referenced under subparagraphs
(A)and
(D)of section 1087e(a)(2) of this title, for which such undergraduate student is eligible.
(B)Loans for current undergraduate Federal Perkins Loan borrowers Through September 30, 2017, an institution of higher education may make a loan under this part to an eligible undergraduate student who, on the date of disbursement of a loan made under this part, has an outstanding balance of principal or interest on a loan made under this part from the student loan fund established under this part by the institution, but only if the institution has awarded all Federal Direct Stafford Loans as referenced under section 1087e(a)(2)(A) of this title for which such undergraduate student is eligible.
(C)Loans for certain graduate borrowers Through September 30, 2016, with respect to an eligible graduate student who has received a loan made under this part prior to October 1, 2015, an institution of higher education that has most recently made such a loan to the student for an academic program at such institution may continue making loans under this part from the student loan fund established under this part by the institution to enable the student to continue or complete such academic program.
(2)No additional loans An institution of higher education shall not make loans under this part after September 30, 2017.
(3)Prohibition on additional appropriations No funds are authorized to be appropriated under this chapter or any other Act to carry out the functions described in paragraph
(1)for any fiscal year following fiscal year 2015.
(Pub. L. 89–329, title IV, § 461, as added Pub. L. 99–498, title IV, § 405(a), Oct. 17, 1986, 100 Stat. 1439; amended Pub. L. 102–325, title IV, § 461(a)(2)–(c), July 23, 1992, 106 Stat. 576; Pub. L. 105–244, title IV, § 461, Oct. 7, 1998, 112 Stat. 1720; Pub. L. 110–315, title IV, § 461, Aug. 14, 2008, 122 Stat. 3265; Pub. L. 114–105, § 2(a)(1), Dec. 18, 2015, 129 Stat. 2219.)
Connections215 cite this · traces to 7
Cited by 215 sections · top 60
U.S. Code
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29 references not yet in our index
  • Pub. L. 89–329, title IV, § 461
  • Pub. L. 99–498, title IV, § 405(a)
  • 100 Stat. 1439
  • Pub. L. 102–325, title IV, § 461(a)(2)
  • 106 Stat. 576
  • Pub. L. 105–244, title IV, § 461
  • 112 Stat. 1720
  • Pub. L. 110–315, title IV, § 461
  • 122 Stat. 3265
  • 129 Stat. 2219
  • Pub. L. 92–318, title I, § 137(b)
  • 86 Stat. 273
  • Pub. L. 94–482, title I, § 130(a)
  • 90 Stat. 2146
  • Pub. L. 96–49, § 5(d)(1)
  • 93 Stat. 352
  • Pub. L. 96–374, title IV, § 441
  • 94 Stat. 1436
  • Pub. L. 99–498
  • section 461 of Pub. L. 89–329
  • Pub. L. 110–315, § 461(1)
  • Pub. L. 110–315, § 461(2)
  • Pub. L. 105–244, § 461(1)
  • Pub. L. 105–244, § 461(2)
  • Pub. L. 102–325, § 461(a)(2)
  • Pub. L. 102–325, § 461(c)
  • Pub. L. 105–244
  • section 3 of Pub. L. 105–244
  • 129 Stat. 2220
Citation graph
cites case law
§ 1087aa
Appropriations authorized
Bills×112
Stat.×37
Fed. Reg.×20
U.S.C.×19
Stat. Comp.×13
Pub. L.×11
C.F.R.×3
Pub. L.Pub. L. 89–329, title IV, § 461
Pub. L.Pub. L. 99–498, title IV, § 405(a)
Stat.100 Stat. 1439
Pub. L.Pub. L. 102–325, title IV, § 461(a)(2)
Stat.106 Stat. 576
Cites 36 · showing 12Cited by 215 across 7 sources
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