Title 25 — IndiansRelease 119-73
§1464 Maturity of loans; interest rate; interest deferral on educational loans
Title 25 › Chapter CHAPTER 17— - FINANCING ECONOMIC DEVELOPMENT OF INDIANS AND INDIAN ORGANIZATIONS › Subchapter SUBCHAPTER I— - INDIAN REVOLVING LOAN FUND › § 1464
Summary
Loans cannot last more than 30 years. The Treasury Secretary sets the interest rate by looking at municipal bond yields, but the rate cannot be higher than one based on the current average yield of U.S. government marketable securities of the same length, plus any extra charge the Secretary allows to cover program costs. Educational loans can let interest be delayed while the borrower is in school or serving in the military.
Full Legal Text
Title 25, §1464
Indians — Source: USLM XML via OLRC
Loans shall be for terms that do not exceed thirty years and shall bear interest at (a) a rate determined by the Secretary of the Treasury taking into consideration the market yield on municipal bonds: Provided, That in no event shall the rate be greater than the rate determined by the Secretary of the Treasury taking into consideration the current average yield on outstanding marketable obligations of the United States of comparable maturity, plus (b) such additional charge, if any, toward covering other costs of the program as the Secretary may determine to be consistent with its purpose: Provided, That educational loans may provide for interest to be deferred while the borrower is in school or in the military service.
Reference
Citations & Metadata
Citation
25 U.S.C. § 1464
Title 25 — Indians
Last Updated
Apr 6, 2026
Release point: 119-73