107 STAT. 346 PUBLIC LAW 103-66 —AUG. 10, 1993 pate in the programs under part B of this title at the discretion of the Secreta^ for the period during which such institution participates in the direct student loan program under this part, except that a student or parent may not receive loans under both this part and part B for the same period of enrollment; "(5) provide for the implementation of a quality assurance system, as established by the Secretary and developed in consultation with institutions of higher education, to ensure that the institution is complying with program requirements and meeting program objectives; "(6) provide that the institution will not charge any fees of any kind, however described, to student or parent borrowers for origination activities or the provision of any information necessary for a student or parent to receive a loan under this part, or any benefits associated with such loan; and (7) include such other provisions as the Secretary determines are necessary to protect the interests of the United States and to promote the purposes of this part. "(b) ORIGINATION.—An agreement with any institution of higher education, or consortia thereof, for the origination of loans under this part shall— "(1) supplement the agreement entered into in accordance with subsection (a); "(2) include provisions established by the Secretary that are similar to the participation agreement provisions described in paragraphs (IXEXii), (2), (3), (4), (5), (6), and (7) of subsection (a), as modified to relate to the origination of loans by the institution or consortium;
- (3) provide that the institution or consortium will originate
loans to eligible students and parents in accordance with this part; and " (4) provide that the note or evidence of obligation on the loan shall be the property of the Secretary.
- (c) WITHDRAWAL AND TERMINATION PROCEDURES. — The Secretary shall establish procedures by which institutions or consortia
may withdraw or be terminated from the program under this part. 20 USC 1087e. <'SEC. 455. TERMS AND CONDITIONS OF LOANS. "(a) IN GENERAL. —
- (1) PARALLEL TERMS, CONDITIONS, BENEFITS, AND
AMOUNTS.—Unless otherwise specified in this part, loans made to borrowers under this part shall have the same terms, conditions, and benefits, and be available in the same amounts, as loans made to borrowers under sections 428, 428B, and 428H of this title. "(2) DESIGNATION OF LOANS. — Loans made to borrowers under this part that, except as otherwise specified in this part, have the same terms, conditions, and benefits as loans made to borrowers under— "(A) section 428 shall be known as 'Federal Direct Stafford Loans'; "(B) section 428B shall be known as 'Federal Direct PLUS Loans'; and "(C) section 428H shall be known as Tederal Direct Unsubsidized Stafford Loans'. "(b) INTEREST RATE. —
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