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42 U.S.C. § 297e — Distribution of assets from loan funds

Federal law — U.S. Code and appendices · legal_authorities

42 U.S.C. § 297e — Distribution of assets from loan funds

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Source location: Title 42, Chapter 6A, § 297e; chapter-6a-public-health-service.md

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**(a) Capital distribution of balance of loan fund** If a school terminates a loan fund established under an agreement pursuant to [section 297a(b) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title42-section297a/b&num=0&edition=prelim), or if the Secretary for good cause terminates the agreement with the school, there shall be a capital distribution as follows: (1) The Secretary shall first be paid an amount which bears the same ratio to such balance in such fund on the date of termination of the fund as the total amount of the Federal capital contributions to such fund by the Secretary pursuant to [section 297a(b)(2)(A) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title42-section297a/b/2/A&num=0&edition=prelim) bears to the total amount in such fund derived from such Federal capital contributions and from funds deposited therein pursuant to [section 297a(b)(2)(B) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title42-section297a/b/2/B&num=0&edition=prelim). (2) The remainder of such balance shall be paid to the school. **(b) Payment of principal or interest on loans** If a capital distribution is made under subsection (a), the school involved shall, after such capital distribution, pay to the Secretary, not less often than quarterly, the same proportionate share of amounts received by the school in payment of principal or interest on loans made from the loan fund established under [section 297a(b) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title42-section297a/b&num=0&edition=prelim) as determined by the Secretary under subsection (a). **(c) Payment of balance of loan fund** (1) Within 90 days after the termination of any agreement with a school under [section 297a of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title42-section297a&num=0&edition=prelim) or the termination in any other manner of a school’s participation in the loan program under this part,11 See References in Text note below. such school shall pay to the Secretary from the balance of the loan fund of such school established under [section 297a of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title42-section297a&num=0&edition=prelim), an amount which bears the same ratio to the balance in such fund on the date of such termination as the total amount of the Federal capital contributions to such fund by the Secretary pursuant to [section 297a(b)(2)(A) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title42-section297a/b/2/A&num=0&edition=prelim) bears to the total amount in such fund on such date derived from such Federal capital contributions and from funds deposited in the fund pursuant to [section 297a(b)(2)(B) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title42-section297a/b/2/B&num=0&edition=prelim). The remainder of such balance shall be paid to the school. (2) A school to which paragraph (1) applies shall pay to the Secretary after the date on which payment is made under such paragraph and not less than quarterly, the same proportionate share of amounts received by the school after the date of termination referred to in paragraph (1) in payment of principal or interest on loans made from the loan fund as was determined for the Secretary under such paragraph.

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Federal law — U.S. Code and appendices · legal_authorities

42 U.S.C. § 297d — Allotments and payments of Federal capital contributions

**(a) Application for allotment; reduction or adjustment of amount requested in application; reallotment; continued availability of funds** (1) The Secretary shall from time to time set dates by which schools of nursing must file applications for Federal capital contributions. (2) (A) If the total of the amounts requested for any fiscal year in such applications exceeds the total amount appropriated under section 297c 11 See References in Text note below. of this title for that fiscal year, the allotment from such total amount to the loan fund of each school of nursing shall be reduced to whichever of the following is the smaller: (i) The amount requested in its application. (ii) An amount which bears the same ratio to the total amount appropriated as the number of students estimated by the Secretary to be enrolled on a full-time basis in such school during such fiscal year bears to the estimated total number of students enrolled in all such schools on a full-time basis during such year. (B) Amounts remaining after allotment under subparagraph (A) shall be reallotted in accordance with clause (ii) of such subparagraph among schools whose applications requested more than the amounts so allotted to their loan funds, but with such adjustments as may be necessary to prevent the total allotted to any such school’s loan fund under this paragraph and paragraph (3) from exceeding the total so requested by it. (3) Funds which, pursuant to [section 297e(c) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title42-section297e/c&num=0&edition=prelim) or pursuant to a loan agreement under [section 297a of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title42-section297a&num=0&edition=prelim) are returned to the

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Federal law — U.S. Code and appendices · legal_authorities

42 U.S.C. § 297f — Repealed. Pub. L. 94–63, title IX, § 936(e)(1), July 29, 1975, 89 Stat. 363

### Statutory Notes Section, act July 1, 1944, ch. 373, title VIII, § 827, as added Sept. 4, 1964, Pub. L. 88–581, § 2, 78 Stat. 917; amended Nov. 3, 1966, Pub. L. 89–751, § 6(a), 80 Stat. 1233; Aug. 16, 1968, Pub. L. 90–490, title II, § 222(g), 82 Stat. 785; July 9, 1971, Pub. L. 92–52, § 3(c), 85 Stat. 145; Nov. 18, 1971, Pub. L. 92–158, § 6(d)(2), 85 Stat. 478, set out provisions relating to terms, conditions, limitations, manner of payment, etc., of loans to schools of nursing to capitalize student loan funds. #### Effective Date of Repeal Repeal effective July 1, 1975, see section 905 of Pub. L. 94–63, set out as an Effective Date of 1975 Amendment note under [section 297a of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title42-section297a&num=0&edition=prelim). #### Availability of Nurse Training Revolving Fund for Payment of Obligations Deposits Into Fund; Transfer of Excess Amounts to General Fund of Treasury Authorization of Appropriations Pub. L. 94–63, title IX, § 936(e)(2), (3), July 29, 1975, 89 Stat. 363, provided that: “(2) The nurse training fund created within the Treasury by section 827(d)(1) of the Act [[42 U.S.C. 297f(d)(1)](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title42-section297f/d/1&num=0&edition=prelim)] shall remain available to the Secretary of Health, Education, and Welfare [now Health and Human Services] for the purpose of meeting his responsibilities respecting participations in obligations acquired under section 827 of the Act [[42 U.S.C. 297f](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title42-section297f&num=0&edition=prelim)]. The Secretary shall continue to deposit in such fund all amounts received by him as interest payments or repayments of principal on loans unde

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Federal law — U.S. Code and appendices · legal_authorities

42 U.S.C. § 297a — Student loan fund

**(a) Agreements to establish and operate fund authorized** The Secretary is authorized to enter into an agreement for the establishment and operation of a student loan fund in accordance with this part with any public or nonprofit private school of nursing which is located in a State. **(b) Provisions of agreements** Each agreement entered into under this section shall— (1) provide for establishment of a student loan fund by the school; (2) provide for deposit in the fund, except as provided in [section 298d of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title42-section298d&num=0&edition=prelim), of (A) the Federal capital contributions paid from allotments under [section 297d of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title42-section297d&num=0&edition=prelim) to the school by the Secretary, (B) an additional amount from other sources equal to not less than one-ninth of such Federal capital contributions, (C) collections of principal and interest on loans made from the fund, (D) collections pursuant to [section 297b(f) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title42-section297b/f&num=0&edition=prelim), and (E) any other earnings of the fund; (3) provide that the fund, except as provided in [section 298d of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title42-section298d&num=0&edition=prelim), shall be used only for loans to students of the school in accordance with the agreement and for costs of collection of such loans and interest thereon; (4) provide that loans may be made from such fund only to students pursuing a full-time or half-time course of study at the school leading to a baccalaureate or associate degree in nursing or an equival

Source: Supplied U.S. Code snapshot — release unconfirmed · 42 U.S.C. § 297a

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Federal law — U.S. Code and appendices · legal_authorities

42 U.S.C. § 297e — Distribution of assets from loan funds

Page 1103 TITLE 42—THE PUBLIC HEALTH AND WELFARE § 297e Editorial Notes REFERENCES IN TEXT Section 297c of this title, referred to in subsec. (a)(2)(A), was repealed by Pub. L. 105–392, title I, § 123(3), Nov. 13, 1998, 112 Stat. 3562. AMENDMENTS 2010—Subsecs. (a)(3), (c). Pub. L. 111–148 substituted ‘‘this part’’ for ‘‘this subpart’’. 1992—Subsec. (a)(3). Pub. L. 102–408 struck out ‘‘(A)’’ after ‘‘(3)’’, substituted ‘‘available for allotment until expended.’’ for ‘‘available for allotment in such fiscal year and in the fiscal year succeeding the fiscal year.’’ and ‘‘this subpart.’’ for ‘‘this subpart, except that in making such allotments, the Secretary shall give pri- ority to schools of nursing which established student loan funds under this subpart after September 30, 1975.’’, and struck out subpar. (B) which read as follows: ‘‘With respect to funds available pursuant to subpara- graph (A), any such funds returned to the Secretary and not allotted by the Secretary, during the period of availability specified in such subparagraph, shall be available to carry out section 297j of this title and, for such purpose, shall remain available until expended.’’ 1988—Subsec. (a)(3). Pub. L. 100–607 designated exist- ing provisions as subpar. (A) and added subpar. (B). 1985—Subsec. (a). Pub. L. 99–92 amended subsec. (a) generally, substituting provisions relating to applica- tion for allotment, reduction or adjustment of amount requested in application, reallotment, and availability of funds for allotment during fiscal years for provisions relating to determination of amount of allotment. Subsec. (b). Pub. L. 99–92 amended subsec. (b) gen- erally, substituting provisions relating to payment to a loan fund of a school of allotments for provisions relat

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