Page:United States Statutes at Large Volume 107 Part 3.djvu/531

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PUBLIC LAW 103-208—DEC. 20, 1993 107 STAT. 2469 (A) by inserting "(or the portion of a loan made under section 4280 that is used to repay a loan made under section 428Ar after "section 428A the first place it appears; and (B) by inserting "(or a loan made under section 428C a portion of which is used to repay a loan made under section 428A) after "section 428A*' the second place it appears; (62) in section 435(m), by adding at the end thereof the following new paragraph: "(4) COLLECTION AND REPORTING OF COHORT DEFAULT RATES.— (A) The Secretary shall collect data from all insurers Publication. under this part and shall publish not less often than once every fiscal year a report showing default data for each category of institution, including (i) 4-year public institutions, (ii) 4- year private institutions, (iii) 2-year public institutions, (iv) 2-year private institutions, (v) 4-year proprietary institutions, (vi) 2-year proprietary institutions, and (vii) less than 2-year proprietary institutions. "(B) The Secretary may designate such additional subcategories within the categories specified in subparagraph (A) as the Secretary deems appropriate. "(C) The Secretary shall publish not less often than once every fiscal year a report showing default data for each institution for which a cohort default rate is calculated under this subsection."; (63) in section 437, by amending subsection (b) to read 20 USC 1087. as follows: "(b) PAYMENT OF CLAIMS ON LOANS IN BANKRUPTCY.— The Secretary shall pay to the holder of a loan described in section 428(a)(1) (A) or (B), 428A, 428B, 428C, or 428H, the amount of the unpaid balance of principal and interest owed on such loan— "(1) when the borrower files for relief under chapter 12 or 13 of title 11, United States Code; "(2) when the borrower who has filed for relief under chapter 7 or 11 of such title commences an action for a determination of dischargeability under section 523(a)(8)(B) of such title; or "(3) for loans described in section 523(a)(8)(A) of such title, when the borrower files for rehef under chapter 7 or 11 of such title."; (64) in section 437(c)(l)— (A) by striking "If a student borrower" auid inserting "If a borrower"; (B) by striking "under this part is unable" and inserting "under this part and the student borrower, or the student on whose behalf a parent borrowed, is unable"; and (C) by striking "in which the borrower is enrolled" and inserting "in which such student is enrolled"; and (65) in section 437(c)(4), by adding at the end the following new sentence: "The amount discharged under this subsection shall be treated the same as loans under section 465(a)(5) of this title."; (66) in the matter preceding paragraph (1) of section 437A(a), by striking "under subsection (d)"; 20 USC 1087-0. (67) in section 437A(c)(2), by inserting a period at the end; (68) in section 437A, by striking subsection (e); and