101 STAT. 346
PUBLIC LAW 100-50—JUNE 3, 1987
pay, shall be deemed to meet the requirements of this % - . ^. paragraph"; (2) in subsection (a)(6), by striking out "proper notice under paragraph (2)," and inserting in lieu thereof "notice of the withholding order,"; and , 4; c (3) in subsection (c), by striking out "notice given to the employer pursuant to subsection (a)(2)" and inserting in lieu thereof "notice of the withholding order". 20 USC 1078-6. (u) REHABIUTATION PROGRAM.—Section 428F of the Act is amended— (1) by striking out subsection (b); and (2) by redesignating subsection (c) as subsection (b). (v) INFORMATION CONCERNING BORROWERS.—Section 430A(e) of the
20 USC 1080a.
20 USC 1081. 20 USC 1082.
Act is amended by adding at the end thereof the following new sentence: "To further the purpose of this section, an eligible institution may enter into an arrangement with any or all of the holders of delinquent loans made to borrowers who attend or previously attended such institution for the purpose of providing current information regarding the borrower's location or employment or for the purpose of assisting the holder in contacting and influencing borrowers to avoid default.". (w) CLARIFICATION OF REFERENCE.—Section 431(a) of the Act is amended by striking out "section 422(c)(4)(C)" and inserting "section 422". (x) AUDITS OF FINANCIAL TRANSACTIONS.—Section 432(f) of the Act is amended by inserting after paragraph (3) the following new paragraph: "(4) AUDIT PROCEDURES.—In conducting audits pursuant to
V
this subsection, the Comptroller General and the Inspector General of the Department of Education shall audit the records to determine the extent to which they, at a minimum, comply with Federal statutes, and rules and regulations prescribed by the Secretary, in effect at the time that the record was made, and in no case shall the Comptroller General or the Inspector General apply subsequently determined standards, procedures, or regulations to the records of such agency, lender, or Authority.". (y) CIVIL PENALTIES.—Section 432(g)(2) of the Act is amended by
striking out "representation" each place it appears in subparagraphs (A)(i) and (B) and inserting in lieu thereof "misrepresentation". 20 USC 1083.
(z) STUDENT LOAN INFORMATION.—Section 433 of the Act is
amended— (1) in the first sentence of subsection (a), by inserting "(other 20 USC 1078-3. than a loan made under section 428C)" after "guaranteed under this part"; (2) in subsection (a), by striking out paragraph (8) and inserting the following: "(8) a statement of the total cumulative balance, including the J ' loan applied for, owed by the student to that lender, and an estimate of the projected monthly payment, given such cumulative balance;"; (3) in subsection (b)(7), by inserting before the semicolon at the end thereof the following: ", except that such explanation is not required when the loan being made is a consolidation loan under section 428C"; and
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