PUBLIC LAW 102-325—JULY 23, 1992 106 STAT. 817 (2) strengthening Federal disincentives for high default rate portfolios; (3) consolidating guaranty agencies regionally or otherwise; (4) eliminating the role of guaranty agencies within the Federal Family Education Loan ftogram; and (5) the compensation of chief executive officers and managerial staffs of guaranty agencies. SEC. 1402. STUDY OF STATUTORY PROTECTIONS. Reports. The Secretary of Education shall report to the Confess within 180 days of the date of enactment of the Higher Education Amendments of 1992 on the advisability of statutorily protecting officials of accrediting agencies involved in the performance of legitimate Federal Family Education Loan Program activities. SEC. 1403. STUDY OF FRAUD-BASED DEFENSES. 20 USC 1080 (a) STUDY. —The Secretary shall conduct a study of the impact of fraud-based defenses on the Federal Family Education Loan Program. Such study shall include— (1) an analysis of statutory, regulatory, and case law regarding the use of fraud-based defenses against repayment of such loans; (2) an estimate of the total number of borrowers filing for relief from repayment of such loans using a fraud-based defense and amount of such loan principal involved; (3) an estimate of such loan principal reUeved annually through fraud-based defenses; (4) an evaluation of the importance of a fraud-based defense to the protection of borrowers of such loans; and (5) an evaluation of the effects of the availability of a fraudbased defense on the accessibility of Stafford loans by geographical area and by t3rpe of postsecondary institution. (b) DATE.—The study described in subsection (a) shall be completed not later than 18 months after the date of enactment of this Act. (c) REPORT. — (1) IN GENERAL. —The Secretary shall submit a report to the Congress on the study described in subsection (a) that makes specific recommendations for legislative options that may be needed to address the rights of borrowers with respect to the availability of fraud-based defenses under the Federal Family Education Loan Program without jeopardizing the participation of lenders or the solvency of guaranty agencies required to msdntain the integrity of such progrsun. (2) DATE.—The report described in paragraph (1) shall be completed not later than 19 months after the date of enactment of this Act. SEC. 1404. DATA ON NONTRADITIONAL STUDENTS. 20 USC 1221e (a) STUDY REQUIRED. —The Secretary of Education shall conduct °^" a 2-year study regarding the types of programs available for, and determine the success or failure of such programs in, increasing the accessibility for nontraditional students to postsecondary education. The study shall be conducted through the Office of Educational Research and Improvement. (b)PURPOSE.— The purpose of the study shall be— (1) to appraise the adequacies and deficiencies of current student financial aid information resources and services and
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