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20 U.S.C. § 1094b — Assignment of identification numbers

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

20 U.S.C. § 1094b — Assignment of identification numbers

The Secretary shall assign to each participant in subchapter IV programs, including institutions, lenders, and guaranty agencies, a single Department of Education identification number to be used to identify its participation in each of the subchapter IV programs.

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Source location: Title 20, Chapter 28, § 1094b; chapter-028-higher-education-resources-and-student-assistance.md

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

20 U.S.C. § 1087–1 — Special allowances

**(a) Findings** In order to assure (1) that the limitation on interest payments or other conditions (or both) on loans made or insured under this part, do not impede or threaten to impede the carrying out of the purposes of this part or do not cause the return to holders of loans to be less than equitable, (2) that incentive payments on such loans are paid promptly to eligible lenders, and (3) that appropriate consideration of relative administrative costs and money market conditions is made in setting the quarterly rate of such payments, the Congress finds it necessary to establish an improved method for the determination of the quarterly rate of the special allowances on such loans, and to provide for a thorough, expeditious, and objective examination of alternative methods for the determination of the quarterly rate of such allowances. **(b) Computation and payment** (1) **Quarterly payment based on unpaid balance** — A special allowance shall be paid for each of the 3-month periods ending March 31, June 30, September 30, and December 31 of every year and the amount of such allowance paid to any holder with respect to any 3-month period shall be a percentage of the average unpaid balance of principal (not including unearned interest added to principal) of all eligible loans held by such holder during such period. (2) **Rate of special allowance** (A) Subject to subparagraphs (B), (C), (D), (E), (F), (G), (H), and (I) and paragraph (4), the special allowance paid pursuant to this subsection on loans shall be computed (i) by determining the average of the bond equivalent rates of 91-day Treasury bills auctioned for such 3-month period, (ii) by subtracting the applicable interest rate on such loans from such average, (iii) by adding 3.10 percent to the resultant

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

20 U.S.C. § 1094b — Assignment of identification numbers

Page 714 TITLE 20—EDUCATION § 1094b 1 So in original. Probably should be ‘‘institution’s’’. Subsec. (b)(4). Pub. L. 111–39, § 407(b)(9)(B), added par. (4). 2008—Subsec. (a)(5). Pub. L. 110–315, § 103(b)(13), sub- stituted ‘‘authorizing committees’’ for ‘‘Committee on Labor and Human Resources of the Senate and the Committee on Education and the Workforce of the House of Representatives’’. Subsec. (b)(1). Pub. L. 110–315, § 494(1), amended par. (1) generally. Prior to amendment, text read as follows: ‘‘The Secretary may continue any experimental sites in existence on October 7, 1998. Any activities approved by the Secretary prior to October 7, 1998, that are in- consistent with this section shall be discontinued not later than June 30, 1999.’’ Subsec. (b)(2). Pub. L. 110–315, § 494(2), added introduc- tory provisions and struck out former introductory provisions which read as follows: ‘‘The Secretary shall review and evaluate the experience of institutions par- ticipating as experimental sites during the period of 1993 through 1998 under this section (as such section was in effect on the day before October 7, 1998), and shall submit a report based on this review and evalua- tion to the Committee on Labor and Human Resources of the Senate and the Committee on Education and the Workforce of the House of Representatives not later than 6 months after October 7, 1998. Such report shall include—’’. Subsec. (b)(3)(A). Pub. L. 110–315, § 494(3)(A), sub- stituted ‘‘The’’ for ‘‘Upon the submission of the report required by paragraph (2), the’’ and inserted ‘‘periodi- cally’’ after ‘‘authorized to’’. Subsec. (b)(3)(B). Pub. L. 110–315, § 494(3)(D), inserted ‘‘, including requirements related to the award process and disbursement of student financial aid (

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