Browse Arkansas Code titles and sections
20 U.S.C. § 981 to 996 — Repealed. Pub. L. 90–575, title I, § 116(c)(1), Oct. 16, 1968, 82 Stat. 1024
Federal law — U.S. Code and appendices · legal_authorities
### Statutory Notes
Section 981, Pub. L. 89–287, § 2, Oct. 22, 1965, 79 Stat. 1037; Pub. L. 90–460, § 2(d)(3), Aug. 3, 1968, 82 Stat. 634, set forth Congressional declaration of purpose for the chapter and authorized appropriations to carry out such purpose.
Section 981 note, Pub. L. 89–287, § 1, Oct. 22, 1965, 79 Stat. 1037, provided that Pub. L. 89–287, which enacted this chapter, be cited as the National Vocational Loan Insurance Act of 1965.
Section 982, Pub. L. 89–287, § 3, Oct. 22, 1965, 79 Stat. 1037, authorized Commissioner to make advances to State and nonprofit private loan insurance programs.
Section 983, Pub. L. 89–287, § 4, Oct. 22, 1965, 79 Stat. 1038, prohibited Commissioner from issuing certificates of insurance to lenders in States having adequate non-Federal loan insurance programs.
Section 984, Pub. L. 89–287, § 5, Oct. 22, 1965, 79 Stat. 1038; Pub. L. 90–460, § 1(b)(1), Aug. 3, 1968, 82 Stat. 634, set forth scope and duration of loan insurance program of this chapter.
Section 985, Pub. L. 89–287, § 6, Oct. 22, 1965, 79 Stat. 1039, limited annual and aggregate amounts available to individuals as loans and covered by insurance under this chapter.
Section 986, Pub. L. 89–287, § 7, Oct. 22, 1965, 79 Stat. 1039, provided for insurance coverage for loans made by eligible lenders, regardless of source of such loaned funds.
Section 987, Pub. L. 89–287, § 8, Oct. 22, 1965, 79 Stat. 1039; Pub. L. 90–460, § 2(c)(1), Aug. 3, 1968, 82 Stat. 634, set forth prerequisites of student eligibility and terms and conditions of note executed by student.
Section 988, Pub. L. 89–287, § 9, Oct. 22, 1965, 79 Stat. 1041; Pub. L. 90–460, §§ 1(b)(2), 2(c)(2), (d), Aug. 3, 1968, 82 Stat. 634, provided for reduction of student interest costs by Federal payments.
Section
Source: Supplied U.S. Code snapshot — release unconfirmed · 20 U.S.C. § 981 to 996
Stored review status: release_metadata_unconfirmed. A text match is a research starting point; applicability is not established.
Original supplied file — preserved unchanged
Download original Markdown file
File SHA-256: 5709202436ee9dfe8fdff3a3287d1bbcd1018decaa007949e3b8f0eb17fc9529. The original may include catalog metadata, neighboring provisions, or embedded records outside this collection's scope. Search shows only the selected federal record. Historical editions and unverified snapshots are not a statement of current law.
Authority boundary: historical or unconfirmed source not current law verified.
Record provenance
Stable record: federal_law:legal_authorities:record_usc_8e5912583dc7dc772f148619
Source file: Laws/federal/codes/united-states-code/title-20/section-981-to-996-20-u-s-c-981-to-996-repealed-pub-l-90575-title-i-116-c-1-oct-16-1968-82--193284759e.md
Pages: Not recorded – Not recorded
Passage SHA-256: 7bf30c10ff072119356c5509b98e724b8815defbc8a2200efe3d118e7f29029b
Source location: Title 20, Chapter 27, § 981 to 996; chapter-027-national-vocational-student-loan-insurance.md
Stored source content
### Statutory Notes
Section 981, Pub. L. 89–287, § 2, Oct. 22, 1965, 79 Stat. 1037; Pub. L. 90–460, § 2(d)(3), Aug. 3, 1968, 82 Stat. 634, set forth Congressional declaration of purpose for the chapter and authorized appropriations to carry out such purpose.
Section 981 note, Pub. L. 89–287, § 1, Oct. 22, 1965, 79 Stat. 1037, provided that Pub. L. 89–287, which enacted this chapter, be cited as the National Vocational Loan Insurance Act of 1965.
Section 982, Pub. L. 89–287, § 3, Oct. 22, 1965, 79 Stat. 1037, authorized Commissioner to make advances to State and nonprofit private loan insurance programs.
Section 983, Pub. L. 89–287, § 4, Oct. 22, 1965, 79 Stat. 1038, prohibited Commissioner from issuing certificates of insurance to lenders in States having adequate non-Federal loan insurance programs.
Section 984, Pub. L. 89–287, § 5, Oct. 22, 1965, 79 Stat. 1038; Pub. L. 90–460, § 1(b)(1), Aug. 3, 1968, 82 Stat. 634, set forth scope and duration of loan insurance program of this chapter.
Section 985, Pub. L. 89–287, § 6, Oct. 22, 1965, 79 Stat. 1039, limited annual and aggregate amounts available to individuals as loans and covered by insurance under this chapter.
Section 986, Pub. L. 89–287, § 7, Oct. 22, 1965, 79 Stat. 1039, provided for insurance coverage for loans made by eligible lenders, regardless of source of such loaned funds.
Section 987, Pub. L. 89–287, § 8, Oct. 22, 1965, 79 Stat. 1039; Pub. L. 90–460, § 2(c)(1), Aug. 3, 1968, 82 Stat. 634, set forth prerequisites of student eligibility and terms and conditions of note executed by student.
Section 988, Pub. L. 89–287, § 9, Oct. 22, 1965, 79 Stat. 1041; Pub. L. 90–460, §§ 1(b)(2), 2(c)(2), (d), Aug. 3, 1968, 82 Stat. 634, provided for reduction of student interest costs by Federal payments.
Section 989, Pub. L. 89–287, § 10, Oct. 22, 1965, 79 Stat. 1043, Pub. L. 90–460, § 1(b)(3), Aug. 3, 1968, 82 Stat. 634, authorized Commissioner to make direct loans to students residing in areas where loans insurable under this chapter are unavailable.
Section 990, Pub. L. 89–287, § 11, Oct. 22, 1965, 79 Stat. 1043, provided for certificates of insurance to be issued to eligible lenders.
Section 991, Pub. L. 89–287, § 12, Oct. 22, 1965, 79 Stat. 1045, set forth procedure for collection in case of default, death, or disability of student borrower.
Section 992, Pub. L. 89–287, § 13, Oct. 22, 1965, 79 Stat. 1046, established Vocational Student Loan Insurance Fund.
Section 993, Pub. L. 89–287, § 14, Oct. 22, 1965, 79 Stat. 1047, enumerated powers and duties of Commissioner with respect to carrying out purposes of this chapter.
Section 994, Pub. L. 89–287, § 15, Oct. 22, 1965, 79 Stat. 1048, established Advisory Council on Insured Loans to Vocational Students in the Office of Education.
Section 995, Pub. L. 89–287, § 16, Oct. 22, 1965, 79 Stat. 1048, authorized Federal credit unions to make insured loans to student members.
Section 996, Pub. L. 89–287, § 17, Oct. 22, 1965, 79 Stat. 1048, defined “eligible institution”, “eligible lender”, “line of credit”, “State”, “Secretary”, and “Commissioner”.
#### Effective Date of Repeal
Repeal applicable to loans made on or after the 60th day after Oct. 16, 1968, see section 116(e) of Pub. L. 90–575.
#### Transfer of Assets and Liabilities of the Vocational Student Loan Insurance Fund
Pub. L. 90–575, title I, § 116(c)(2), Oct. 16, 1968, 82 Stat. 1024, provided that: “All assets and liabilities of the vocational student loan insurance fund established by section 13 of the National Vocational Student Loan Insurance Act of 1965 [[section 992 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title20-section992&num=0&edition=prelim)], matured or contingent, shall be transferred to, and become assets and liabilities of, the student loan insurance fund established by section 431 of the Higher Education Act of 1965 [[section 1081 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title20-section1081&num=0&edition=prelim)]. Payments in connection with defaults of loans made on or after the sixtieth day after the date of enactment of this Act [Oct. 16, 1968] and insured by the Commissioner (under the authority of subsection (e)(3) or (e)(4) of this section [set out as a note under [section 1083 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title20-section1083&num=0&edition=prelim)]) under the National Vocational Student Loan Insurance Act of 1965 [sections 981 to 996 of this title] shall be paid out of the fund established by such section 431.”
Cross-references
Connections may be documented source relationships, shared citations or nearby passages. Each explains its basis; a connection alone does not establish applicability to your situation.
Federal law — U.S. Code and appendices · legal_authorities
**(a) Establishment** There is hereby established a student loan insurance fund (hereinafter in this section called the “fund”) which shall be available without fiscal year limitation to the Secretary for making payments in connection with the default of loans insured by the Secretary under this part, or in connection with payments under a guaranty agreement under [section 1078(c) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title20-section1078/c&num=0&edition=prelim). 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 operations under this part, any excess advances under [section 1072 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title20-section1072&num=0&edition=prelim), and any other moneys, property, or assets derived by the Secretary from operations in connection with this section, shall be deposited in the fund. All payments in connection with the default of loans insured by the Secretary under this part, or in connection with such guaranty agreements shall be paid from the fund. Moneys in the fund not needed for current operations under this section may be invested in bonds or other obligations guaranteed as to principal and interest by the United States.
**(b) Borrowing authority** If at any time the moneys in the fund are insufficient to make payments in connection with the default of any loan insured by the Secretary under this part, or in connection with any guaranty agreement made under [section 1078(c) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title20-section1078/c&num=0&edition=prelim), the Secretary is authorized, to the
Source: Supplied U.S. Code snapshot — release unconfirmed · 20 U.S.C. § 1081
Stored review status: release_metadata_unconfirmed. Explicit cross-reference supplied in source Markdown; currentness and applicability require review.
Federal law — U.S. Code and appendices · legal_authorities
**(a) Required disclosure before disbursement** Each eligible lender, at or prior to the time such lender disburses a loan that is insured or guaranteed under this part (other than a loan made under [section 1078–3 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title20-section1078-3&num=0&edition=prelim)), shall provide thorough and accurate loan information on such loan to the borrower in simple and understandable terms. Any disclosure required by this subsection may be made by an eligible lender by written or electronic means, including as part of the application material provided to the borrower, as part of the promissory note evidencing the loan, or on a separate written form provided to the borrower. Each lender shall provide to each borrower a telephone number, and may provide an electronic address, through which additional loan information can be obtained. The disclosure shall include—
(1) a statement prominently and clearly displayed and in bold print that the borrower is receiving a loan that must be repaid;
(2) the name of the eligible lender, and the address to which communications and payments should be sent;
(3) the principal amount of the loan;
(4) the amount of any charges, such as the origination fee and Federal default fee, and whether those fees will be—
(A) collected by the lender at or prior to the disbursal of the loan;
(B) deducted from the proceeds of the loan;
(C) paid separately by the borrower; or
(D) paid by the lender;
(5) the stated interest rate on the loan;
(6) for loans made under [section 1078–8 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title20-section1078-8&num=0&edition=prelim) or to a student borrower under [section 1078–2 of this title](https://uscode.ho
Source: Supplied U.S. Code snapshot — release unconfirmed · 20 U.S.C. § 1083
Stored review status: release_metadata_unconfirmed. Explicit cross-reference supplied in source Markdown; currentness and applicability require review.