
From the U.S. Code Online via GPO Access
[wais.access.gpo.gov]
[Laws in effect as of January 23, 2000]
[Document not affected by Public Laws enacted between
  January 23, 2000 and December 4, 2001]
[CITE: 42USC292o]

 
                 TITLE 42--THE PUBLIC HEALTH AND WELFARE
 
                    CHAPTER 6A--PUBLIC HEALTH SERVICE
 
               SUBCHAPTER V--HEALTH PROFESSIONS EDUCATION
 
                          Part A--Student Loans
 
    subpart i--insured health education assistance loans to graduate 
                                students
 
Sec. 292o. Definitions

    For purposes of this subpart:
        (1) The term ``eligible institution'' means, with respect to a 
    fiscal year, a school of medicine, osteopathic medicine, dentistry, 
    veterinary medicine, optometry, podiatric medicine, pharmacy, public 
    health, allied health, or chiropractic, or a graduate program in 
    health administration or behavioral and mental health practice, 
    including clinical psychology.
        (2) The term ``eligible lender'' means an eligible institution 
    that became a lender under this subpart prior to September 15, 1992, 
    an agency or instrumentality of a State, a financial or credit 
    institution (including an insurance company) which is subject to 
    examination and supervision by an agency of the United States or of 
    any State, a pension fund approved by the Secretary for this 
    purpose, or a nonprofit private entity designated by the State, 
    regulated by the State, and approved by the Secretary.
        (3) The term ``line of credit'' means an arrangement or 
    agreement between the lender and the borrower whereby a loan is paid 
    out by the lender to the borrower in annual installments, or whereby 
    the lender agrees to make, in addition to the initial loan, 
    additional loans in subsequent years.
        (4) The term ``school of allied health'' means a program in a 
    school of allied health (as defined in section 295p of this title) 
    which leads to a masters' degree or a doctoral degree.
        (5)(A) The term ``default rate'', in the case of an eligible 
    entity, means the percentage constituted by the ratio of--
            (i) the principal amount of loans insured under this 
        subpart--
                (I) that are made with respect to the entity and that 
            enter repayment status after April 7, 1987; and
                (II) for which amounts have been paid under section 
            292f(a) of this title to insurance beneficiaries, exclusive 
            of any loan for which amounts have been so paid as a result 
            of the death or total and permanent disability of the 
            borrower; exclusive of any loan for which the borrower 
            begins payments to the Secretary on the loan pursuant to 
            section 292f(b) of this title and maintains payments for 12 
            consecutive months in accordance with the agreement involved 
            (with the loan subsequently being included or excluded, as 
            the case may be, as amounts paid under section 292f(a) of 
            this title according to whether further defaults occur and 
            whether with respect to the default involved compliance with 
            such requirement regarding 12 consecutive months occurs); 
            and exclusive of any loan on which payments may not be 
            recovered by reason of the obligation under the loan being 
            discharged in bankruptcy under title 11; to

            (ii) the total principal amount of loans insured under this 
        subpart that are made with respect to the entity and that enter 
        repayment status after April 7, 1987.

        (B) For purposes of subparagraph (A), a loan insured under this 
    subpart shall be considered to have entered repayment status if the 
    applicable period described in subparagraph (B) of section 
    292d(a)(2) of this title regarding the loan has expired (without 
    regard to whether any period described in subparagraph (C) of such 
    section is applicable regarding the loan).
        (C) For purposes of subparagraph (A), the term ``eligible 
    entity'' means an eligible institution, an eligible lender, or a 
    holder, as the case may be.
        (D) For purposes of subparagraph (A), a loan is made with 
    respect to an eligible entity if--
            (i) in the case of an eligible institution, the loan was 
        made to students of the institution;
            (ii) in the case of an eligible lender, the loan was made by 
        the lender; and
            (iii) in the case of a holder, the loan was purchased by the 
        holder.

(July 1, 1944, ch. 373, title VII, Sec. 719, as added Pub. L. 102-408, 
title I, Sec. 102, Oct. 13, 1992, 106 Stat. 2009; amended Pub. L. 105-
392, title I, Sec. 141(c)(2), Nov. 13, 1998, 112 Stat. 3579.)


                               Amendments

    1998--Par. (1). Pub. L. 105-392 substituted ``or behavioral and 
mental health practice, including clinical psychology'' for ``or 
clinical psychology''.

                  Section Referred to in Other Sections

    This section is referred to in sections 292, 292a, 292g of this 
title.
