PUBLIC LAW 98-79—AUG. 15, 1983 97 STAT. 479 education either in a promissory note evidencing the loan or loans or in a written statement provided to the borrower. The disclosures shall include— "(1) the name of the institution of higher education, and the address to which communications and payments should be sent; "(2) the scheduled date upon which the repayment period is to begin; "(3) the estimated balance owed by the borrower on the loan or loans covered by the disclosure as of the scheduled date on which the repayment period is to begin (including, if applicable, the estimated amount of interest to be capitalized); "(4) the stated interest rate on the loan or loans, or the combined interest rate of loans with different stated interest rates; "(5) the nature of any fees which may accrue or be charged to the borrower during the repayment period; "(6) the repayment schedule for all loans covered by the disclosure including the date the first installment is due, and the number, amount, and frequency of required payments; "(7) an explanation of any special options the borrower may have for loan consolidation or other refinancing of the loan; "(8) the projected total of interest charges which the borrower will pay on the loan or loans, assuming that the borrower makes payments exactly in accordance with the repayment schedule; and "(9) a statement that the borrower has the right to prepay all or part of the loan or loans covered by the disclosure at any time without penalty. "(c) Such information shall be available without cost to the bor- rower. The failure of an eligible institution to provide information as required by this section shall not (1) relieve a borrower of the obligation to repay a loan in accordance with its terms, (2) provide a basis for a claim for civil damages, or (3) be deemed to abrogate the obligation of the Secretary to make payments with respect to such loan. ". Information disclosure. Loan repayment, obligation. STUDENT FINANCIAL ASSISTANCE TECHNICAL AMENDMENT ACT OF 1982 REVISIONS SEC. 4. (a) The Student Financial Assistance Technical Amend- ments of 1982 is amended by striking out section 3 through 6 and 96 Stat. 1400. inserting in lieu thereof the following: COST OF ATTENDANCE "SEC. 3. (a) Except as provided in subsection (b), but notwithstand- ing any other provision of law, the cost of attendance criteria used for calculating eligibility for and the amount of Pell Grants for academic years 1983-1984, and 1984-1985, shall be the same as those criteria in effect for academic year 1982-1983. "(b) The cost of attendance allowance for room and board for students not residing at home or in institutionally owned or operated housing for the academic year 1984-1985 shall be a stand- ard amount determined by the institution of higher education based on the expenses reasonably incurred by such student for room and board, which shall be at least $1,100 but not more than $1,600. 20 USC 1070a note.
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