Title 20 — EducationRelease 119-73
§1087gg Collection of defaulted loans: Perkins Loan Revolving Fund
Title 20 › Chapter CHAPTER 28— - HIGHER EDUCATION RESOURCES AND STUDENT ASSISTANCE › Subchapter SUBCHAPTER IV— - STUDENT ASSISTANCE › Part Part E— - Federal Perkins Loans › § 1087gg
Summary
The Secretary must keep collecting loans made under this part that an institution sent, transferred, or assigned under its agreement. Collection continues until the Secretary has used all appropriate collection efforts.
Full Legal Text
Title 20, §1087gg
Education — Source: USLM XML via OLRC
(a)With respect to any loan—
(1)which was made under this part, and
(2)which is referred, transferred, or assigned to the Secretary by an institution with an agreement under section 1087cc(a) of this title,
(b)The Secretary shall continue to attempt to collect any loan referred, transferred, or assigned under paragraph (4) or (5) of section 1087cc(a) of this title until all appropriate collection efforts, as determined by the Secretary, have been expended.
Legislative History
Notes & Related Subsidiaries
Editorial Notes
Prior Provisions
A prior section 1087gg, Pub. L. 89–329, title IV, § 467, as added Pub. L. 96–49, § 5(d)(3)(A), Aug. 13, 1979, 93 Stat. 352; amended Pub. L. 96–374, title IV, § 445(c), title XIII, § 1391(a)(1), Oct. 3, 1980, 94 Stat. 1442, 1503; Pub. L. 99–272, title XVI, § 16029, Apr. 7, 1986, 100 Stat. 354, related to collection of defaulted loans, prior to the general revision of this part by Pub. L. 99–498.
Amendments
2009—Subsec. (b). Pub. L. 111–39 substituted “paragraph (4) or (5)” for “paragraph (5)(A), (5)(B)(i), or (6)”. 1998—Subsec. (c). Pub. L. 105–244 struck out heading and text of subsec. (c) which established the Perkins Loan Revolving Fund and provided for deposits into and payments from the Fund. 1992—Pub. L. 102–325 amended section catchline generally, inserting “: Perkins Loan Revolving Fund” after “loans” and added subsec. (c).
Statutory Notes and Related Subsidiaries
Effective Date
of 2009 AmendmentAmendment by Pub. L. 111–39 effective as if enacted on the date of enactment of Pub. L. 110–315 (Aug. 14, 2008), see section 3 of Pub. L. 111–39, set out as a note under section 1001 of this title.
Effective Date
of 1998 AmendmentAmendment by Pub. L. 105–244 effective Oct. 1, 1998, except as otherwise provided in Pub. L. 105–244, see section 3 of Pub. L. 105–244, set out as a note under section 1001 of this title.
Effective Date
of 1992 AmendmentAmendment by Pub. L. 102–325 to this section, relating to creation of Perkins Loan Revolving Fund, effective Sept. 15, 1997, see section 468(4) of Pub. L. 102–325, set out as a note under section 1087dd of this title. Transfer of Balance Pub. L. 105–244, title IV, § 467(b), Oct. 7, 1998, 112 Stat. 1728, provided that: “Any funds in the Perkins Loan Revolving Fund on the date of enactment of this Act [Oct. 7, 1998] shall be transferred to and deposited in the Treasury.”
Reference
Citations & Metadata
Citation
20 U.S.C. § 1087gg
Title 20 — Education
Last Updated
Apr 6, 2026
Release point: 119-73