PUBLIC LAW 105-78—NOV. 13, 1997 111 STAT. 1523 r»b that repays Federal Stafford Loans for which the student borrower received an interest subsidy under section 428 or Federal Direct Stafford Loans for which the borrower received an interest subsidy under section 455; or". (d) NONDISCRIMINATION IN LOAN CONSOLIDATION. —Section 428C(b) is amended by adding at the end the following new paragraph: "(6) NONDISCRIMINATION IN LOAN CONSOLIDATION.— An eligible lender that makes consolidation loans under this section shall not discriminate against any borrower seeking such a loan— "(A) based on the number or type of eligible student loans the borrower seeks to consolidate; "(B) based on the type or category of institution of higher education that the borrower attended; "(C) based on the interest rate to be charged to the borrower with respect to the consolidation loan; or "(D) with respect to the types of repayment schedules offered to such borrower.". (e) INTEREST RATE. —Section 428C(c)(l) is amended— (1) in the first sentence of subparagraph (A), by striking "(B) or (C)" and inserting "(B), (C), or (D)"; and (2) by adding at the end the following new subparagraph: "(D) A consolidation loan for which the application is received by an eligible lender on or after the date or enactment of the Emergency Student Loan Consolidation Act of 1997 and before October 1, 1998, shall bear interest at an annual rate on the unpaid principal balance of the loan that is equal to the rate specified in section 427A(f), except that the eligible lender may continue to calculate interest on such a loan at the rate previously in effect and defer, until not later than April 1, 1998, the recalculation of the interest on such a loan at the rate required by this subparagraph if the recalculation is applied retroactively to the date on which the login is made.". (f) AMENDMENTS EFFECTIVE FOR PENDING APPLICANTS.—The 20 USC i078-3 consolidation loans authorized by the amendments made by this i^ote. section shall be available notwithstanding any pending application by a student for a consolidation loan under part D of title IV of the Higher Education Act of 1965 (20 U.S.C. 1087a et seq.), upon withdrawal of such application by the student at any time prior to receipt of such a consolidation loan. (g) FAMILY CONTRIBUTION FOR DEPENDENT STUDENTS. — (1) PARENTS' AVAILABLE INCOME.—Section 475(c)(1) (20 U.S.C. 1087oo(c)(l)) is amended— (A) by striking "and" at the end of subparagraph (D); (B) by striking the period at the end of subparagraph (E) and inserting "; and"; and (C) by adding at the end of the following new subparagraph: "(F) the amount of any tax credit taken by the parents under section 25A of the Internal Revenue Code of 1986.". (2) STUDENT CONTRIBUTION FROM AVAILABLE INCOME.— Section 475(g)(2) is amended— (A) lay striking "and" at the end of subparagraph (C); (B) by striking the period at the end of subparagraph (D) and inserting "; and"; and
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