§1087aa. Appropriations authorized — Inbound Citations
20 U.S.C. § 1087aa
Cited by 13 provisions in release 119-102.
Citations to 20 U.S.C. § 1087aa as a whole
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(C) any loan made under part E of such title (20 U.S.C. 1087aa et seq.); or
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(3) A loan made under part E of such title (20 U.S.C. 1087aa et seq.).
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(C) any loan made under part E of such title (20 U.S.C. 1087aa et seq.); or
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(3) a loan made under part E of such title (20 U.S.C. 1087aa et seq.) after October 1, 1975;
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(C) any loan made under part E of such title (20 U.S.C. 1087aa et seq.); or
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(A) Federal capital contributions from funds appropriated under section 1087aa of this title;
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(3) A loan made under part E of such title (20 U.S.C. 1087aa et seq.).
Citations to §1087aa(b)
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(1) From the amount appropriated pursuant to section 1087aa(b)1 of this title for each fiscal year, the Secretary shall first allocate to each eligible institution an amount equal to—(A) 100 percent of the amount received under subsections (a) and (b) of this section for fiscal year 1999 (as such subsections were in effect with respect to allocations for such fiscal year), multiplied by(B) the institution’s default penalty, as determined under subsection (e),except that if the institution has a cohort default rate in excess of the applicable maximum cohort default rate under subsection (f), the institution may not receive an allocation under this paragraph.
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(1) From the remainder of the amount appropriated pursuant to section 1087aa(b)1 of this title after making the allocations required by subsection (a) of this section, the Secretary shall allocate to each eligible institution which has an excess eligible amount an amount which bears the same ratio to such remainder as such excess eligible amount bears to the sum of the excess eligible amounts of all such eligible institutions (having such excess eligible amounts).
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(i) that institution’s eligible amount (as determined under paragraph (3)), divided by (ii) the sum of the eligible amounts of all institutions (as so determined), multiplied by (iii) the amount appropriated pursuant to section 1087aa(b)1 of this title for the fiscal year; exceeds
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(b) The Secretary shall pay to each institution for each fiscal year an amount equal to the aggregate of the amounts of loans from its student loan fund which are canceled pursuant to this section for such year, minus an amount equal to the aggregate of the amounts of any such loans so canceled which were made from Federal capital contributions to its student loan fund provided by the Secretary under section 1087hh of this title. None of the funds appropriated pursuant to section 1087aa(b)1 of this title shall be available for payments pursuant to this subsection. To the extent feasible, the Secretary shall pay the amounts for which any institution qualifies under this subsection not later than 3 months after the institution files an institutional application for campus-based funds.
Citations to §1087aa(b)(1)(A)
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(17) with respect to new undergraduate Federal Perkins loan borrowers, as described in section 1087aa(b)(1)(A) of this title, a notice and explanation providing a comparison of the interest rates of loans under this part and part D and informing the borrower that the borrower has reached the maximum annual borrowing limit for which the borrower is eligible as referenced under subparagraphs (A) and (D) of section 1087e(a)(2) of this title; and
Citations to §1087aa(b)(1)(B)
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(18) with respect to current undergraduate Federal Perkins loan borrowers, as described in section 1087aa(b)(1)(B) of this title, a notice and explanation providing a comparison of the interest rates of loans under this part and part D and informing the borrower that the borrower has reached the maximum annual borrowing limit for which the borrower is eligible on Federal Direct Stafford Loans as referenced under section 1087e(a)(2)(A) of this title.