42 U.S.C. § 292u — Administrative provisions

Page 1010 TITLE 42—THE PUBLIC HEALTH AND WELFARE § 292u § 292u. Administrative provisions The Secretary may agree to modifications of agreements or loans made under this subpart, and may compromise, waive, or release any right, title, claim, or demand of the United States arising or acquired under this subpart. (July 1, 1944, ch. 373, title VII, § 725, as added Pub. L. 102–408, title I, § 102, Oct. 13, 1992, 106 Stat. 2019.) Editorial Notes PRIOR PROVISIONS A prior section 725 of act July 1, 1944, was classified to section 293e of this title prior to the general revision of this subchapter by Pub. L. 102–408. Statutory Notes and Related Subsidiaries HEALTH PROFESSIONS EDUCATION FUND; AVAILABILITY OF FUND; DEPOSIT IN FUND OF: INTEREST PAYMENTS OR REPAYMENTS OF PRINCIPAL ON LOANS; TRANSFER OF EXCESS MONEYS TO GENERAL FUND OF THE TREASURY; AUTHORIZATION OF APPROPRIATIONS FOR PAYMENTS UNDER AGREEMENTS Pub. L. 94–484, title IV, § 406(b), (c), Oct. 12, 1976, 90 Stat. 2268, provided that: ‘‘(b) The health professions education fund created within the Treasury by section 744(d)(1) of the Public Health Service Act (as in effect before the date of en- actment of this Act) [former 42 U.S.C. 294d(d)(1)] shall remain available to the Secretary of Health, Edu- cation, and Welfare [now Health and Human Services] for the purpose of meeting his responsibilities respect- ing participations in obligations acquired under such section. The Secretary shall continue to deposit in such fund all amounts received by him as interest payments or repayments of principal on loans under such section 744 [former 42 U.S.C. 294d]. If at any time the Secretary determines the moneys in the fund exceed the present and any reasonable prospective future requirements of such fund, such excess may be transferred to the gen- eral fund of the Treasury. ‘‘(c) There are authorized to be appropriated without fiscal year limitation such sums as may be necessary to enable the Secretary to make payments under agree- ments entered into under section 744(b) [former 42 U.S.C. 294d(b)] of the Public Health Service Act before September 30, 1977.’’ § 292v. Provision by schools of information to students (a) In general With respect to loans made by a school under this subpart after June 30, 1986, each school, in order to carry out the provisions of sections 292q and 292r of this title, shall, at any time such school makes such a loan to a student under this subpart, provide thorough and adequate loan in- formation on loans made under this subpart to the student. The loan information required to be provided to the student by this subsection shall include— (1) the yearly and cumulative maximum amounts that may be borrowed by the student; (2) the terms under which repayment of the loan will begin; (3) the maximum number of years in which the loan must be repaid; (4) the interest rate that will be paid by the borrower and the minimum amount of the re- quired monthly payment; (5) the amount of any other fees charged to the borrower by the lender; (6) any options the borrower may have for deferral, cancellation, prepayment, consolida- tion, or other refinancing of the loan; (7) a definition of default on the loan and a specification of the consequences which will result to the borrower if the borrower defaults, including a description of any arrangements which may be made with credit bureau organi- zations; (8) to the extent practicable, the effect of ac- cepting the loan on the eligibility of the bor- rower for other forms of student assistance; and (9) a description of the actions that may be taken by the Federal Government to collect the loan, including a description of the type of information concerning the borrower that the Federal Government may disclose to (A) offi- cers, employees, or agents of the Department of Health and Human Services, (B) officers, employees, or agents of schools with which the Secretary has an agreement under this sub- part, or (C) any other person involved in the collection of a loan under this subpart. (b) Statement regarding loan Each school shall, immediately prior to the graduation from such school of a student who receives a loan under this subpart after June 30, 1986, provide such student with a statement specifying— (1) each amount borrowed by the student under this subpart; (2) the total amount borrowed by the stu- dent under this subpart; and (3) a schedule for the repayment of the amounts borrowed under this subpart, includ- ing the number, amount, and frequency of pay- ments to be made. (July 1, 1944, ch. 373, title VII, § 726, as added Pub. L. 102–408, title I, § 102, Oct. 13, 1992, 106 Stat. 2020.) Editorial Notes PRIOR PROVISIONS A prior section 726 of act July 1, 1944, was classified to section 293f of this title prior to the general revision of this subchapter by Pub. L. 102–408. Another prior section 726 of act July 1, 1944, was clas- sified to section 293f of this title prior to repeal by Pub. L. 94–484. § 292w. Procedures for appeal of termination of agreements In any case in which the Secretary intends to terminate an agreement with a school under this subpart, the Secretary shall provide the school with a written notice specifying such in- tention and stating that the school may request a formal hearing with respect to such termi- nation. If the school requests such a hearing within 30 days after the receipt of such notice, the Secretary shall provide such school with a hearing conducted by an administrative law judge. (July 1, 1944, ch. 373, title VII, § 727, as added Pub. L. 102–408, title I, § 102, Oct. 13, 1992, 106 Stat. 2020.)