TITLE IV--STUDENT ASSISTANCE
Part B--Federal Family Education Loan Program
SEC. 415. LIMITATIONS ON INDIVIDUAL FEDERALLY INSURED LOANS AND FEDERAL LOAN INSURANCE
Section 425(a)(1)(A) (20 U.S.C. 1075(a)(1)(A)) is amended--
(1) in clause (i)--
(A) by inserting `and' after the semicolon at the end of subclause (I); and
(B) by striking subclauses (II) and (III) and inserting the following:
`(II) if such student is enrolled in a program of undergraduate education which is less than one academic year, the maximum annual loan amount that such student may receive may not exceed the amount that bears the same ratio to the amount specified in subclause (I) as the length of such program measured in semester, trimester, quarter, or clock hours bears to one academic year;'; and
(2) by inserting `and' after the semicolon at the end of clause (iii).
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Last Modified: 09/23/2003