12 2 STA T .740PUBLIC LA W 110 – 227 —M A Y 7 , 200 8PublicLaw1 1 0–2 2 7 110 thCongres s A n Act Toensur e c on ti nue dav ai l a b ilit y o f access to t h e F ederal student loan p ro g ra m for students and families .Beit e nac te dby t h e S enate and Hous eo fR e pr esentati v es of the U nited States of Am erica in C on g ress assemb l ed ,SECTION1. S H O R T TIT L E. Thist it lemayb e c ite d as the ‘ ‘ En s ur in gCo ntinued A ccess to S tudent L oans Act o f20 0 8’ ’ . SEC. 2 . INCRE A SIN GU NSU B SI D I Z ED STA F FORD LOAN LI M ITS FOR UNDERGRADUATE STUDENTS. ( a ) A MEND MEN TS . — Subsection (d) of section 4 28 H of the Higher Education Act of 1965 (20 U .S.C. 10 7 8 – 8(d)) is amended to read as follo w s
‘‘(d) L OA NL I MITS.— ‘‘(1) I N G ENE R A L .—E x ce p taspro v ided in paragraphs (2) , ( 3 ), and (4), the annual and aggregate limits for loans under this section shall be the same as those established under section 428(b)(1), less any amount received by such student pursuant to the subsidi z ed loan program established under section 428. ‘‘(2) LIMITS F OR GRAD U ATE AND P ROFESSIONAL STUDENTS.— ‘‘(A) ANNUAL LIMITS.—The maximum annual amount of loans under this section a graduate or professional stu - dent may borrow in any academic year (as defined in section 481(a)(2)) or its e q uivalent shall be the amount determined under paragraph (1), plus— ‘‘(i) in the case of such a student who is a graduate or professional student attending an eligible institu- tion, $ 12,000
and ‘‘(ii) in the case of a graduate student enrolled in coursewor k specified in sections 484(b)(3)( B ) and 484(b)(4)(B), $7,000; except in cases where the Secretary determines that a higher amount is warranted in order to carry out the purpose of this part with respect to students engaged in specialized training requiring exceptionally high costs of education, but the annual insurable limit per student shall not be deemed to be exceeded by a line of credit under which actual payments by the lender to the borrower will not be made in any years in excess of the annual limit. ‘‘(B) AGGREGATE LIMIT.—The maximum aggregate amount of loans under this section a student described in subparagraph (A) may borrow shall be the amount described in paragraph (1), ad j usted to reflect the increased 20USC1 001 note.E n suri n g Continue dAc cess to Student L o a ns Act o f 200 8 . M a y7, 2008 [H . R . 5 715 ]
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