§ 292i. Insurance account
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/usc/title-42/section-292iA research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)In general
(1)Establishment There is hereby established a student loan insurance account (in this section referred to as the “Account”) which shall be available without fiscal year limitation to the Secretary for making payments in connection with the collection and default of loans insured under this subpart by the Secretary.
(2)Funding
(A)Except as provided in subparagraph (B), all amounts received by the Secretary as premium charges for insurance and as receipts, earnings, or proceeds derived from any claim or other assets acquired by the Secretary in connection with his operations under this subpart, and any other moneys, property, or assets derived by the Secretary from the operations of the Secretary in connection with this section, shall be deposited in the Account.
(B)With respect to amounts described in subparagraph
(A)that are received by the Secretary for fiscal year 1993 and subsequent fiscal years, the Secretary may, before depositing such amounts in the Account, reserve from the amounts each such fiscal year not more than $1,000,000 for obligation under section 292h(d) of this title.
(3)Expenditures All payments in connection with the default of loans insured by the Secretary under this subpart shall be paid from the Account.
(b)Contingent authority for issuance of notes or other obligations If at any time the moneys in the Account are insufficient to make payments in connection with the collection or default of any loan insured by the Secretary under this subpart, the Secretary of the Treasury may lend the Account such amounts as may be necessary to make the payments involved, subject to the Federal Credit Reform Act of 1990 [2 U.S.C. 661 et seq.].
(July 1, 1944, ch. 373, title VII, § 710, as added Pub. L. 102–408, title I, § 102, Oct. 13, 1992, 106 Stat. 2007; amended Pub. L. 105–392, title I, § 143, Nov. 13, 1998, 112 Stat. 3581.)
Connections12 cite this · traces to 5
Cited by 12 sections · top 11
U.S. Code
- § 292hOffice for Health Education Assistance Loan Default Reduction
- § 292fDefault of borrower
- § 1092aCombined payment plan
- § 1078–3Federal consolidation loans
- § 294gRepealed. Pub. L. 111–148, title V, § 5306(a)(1), Mar. 23, 2010, 124 Stat. 626
- § 292mRepayment by Secretary of loans of deceased or disabled borrowers
statutes-at-large
- Public Law 94–484To amend the Public Health Service Act to revise and extend the programs of assistance under title VII for training In the health and allied health professions, to revise the National Health Service Corps program and the National Health Service Corps scholarship training program, and for other purpo
- Public Law 105–392To amend the Public Health Service Act to consolidate and reauthorize health professions and minority and disadvantaged health education programs, and for other purposes
- Public Law 97–35To provide for reconciliation pursuant to section 301 of the first concurrent resolution on the budget for the fiscal year 1982
- Public Law 95–623To amend the Public Health Service Act to revise and extend the authorities under that Act relating to health services research and health statistics and to establish a National Center for Health Care Technology, and for other purposes
- Public Law 102–408To amend the Public Health Service Act to revise and extend certain programs relating to the education of individuals as health professionals, and for other purposes
Traces to 5 documents
27 references not yet in our index
- July 1, 1944, ch. 373
- Pub. L. 102–408, title I, § 102
- 106 Stat. 2007
- Pub. L. 105–392, title I, § 143
- 112 Stat. 3581
- Pub. L. 93–344
- Pub. L. 101–508, title XIII, § 13201(a)
- 104 Stat. 1388–609
- act July 1, 1944, ch. 373, title VII, § 709
- Pub. L. 94–484, title II, § 207
- 90 Stat. 2252
- Pub. L. 95–623, § 12(b)
- 92 Stat. 3457
- Pub. L. 97–35, title XXVII, § 2720(a)
- 95 Stat. 915
- act July 1, 1944, ch. 373, title VII, § 710
- July 30, 1956, ch. 779, § 2
- 70 Stat. 720
- Pub. L. 88–129, § 2(a)
- 77 Stat. 164
- Pub. L. 92–157, title I, § 102(k)(2)(A)
- 85 Stat. 437
- Pub. L. 94–484, title II, § 201(a)
- 90 Stat. 2246
- Pub. L. 102–408
- Pub. L. 97–35
- Pub. L. 105–392
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cites case law
§ 292i
Insurance account
U.S.C.×7
Stat.×5
ActJuly 1, 1944, ch. 373
Pub. L.Pub. L. 102–408, title I, § 102
Stat.106 Stat. 2007
Pub. L.Pub. L. 105–392, title I, § 143
Stat.112 Stat. 3581
Cites 32 · showing 10Cited by 12 across 2 sources