US Code

Public Law 119-73 (01/23/2026)

20 U.S.C. § 1066c

Limitations on Federal insurance for bonds issued by designated bonding authority

(a)

Limit on amount

At no time shall the aggregate principal amount of outstanding bonds insured under this part together with any accrued unpaid interest thereon exceed $1,100,000,000, of which—
(1)
not more than $733,333,333 shall be used for loans to eligible institutions that are private historically Black colleges and universities; and
(2)
not more than $366,666,667 shall be used for loans to eligible institutions which are historically Black public colleges and universities.
section 123 of this titleFor purposes of paragraphs (1) and (2), Lincoln University of Pennsylvania is an historically Black public institution. No institution of higher education that has received assistance under shall be eligible to receive assistance under this part.
(b)

Limitation on credit authority

The authority of the Secretary to issue letters of credit and insurance under this part is effective only to the extent provided in advance by appropriations Acts.

(c)

Religious activity prohibition

No loan may be made under this part for any educational program, activity or service related to sectarian instruction or religious worship or provided by a school or department of divinity or to an institution in which a substantial portion of its functions is subsumed in a religious mission.

(d)

Discrimination prohibition

20 U.S.C. 1681No loan may be made to an institution under this part if the institution discriminates on account of race, color, religion, national origin, sex (to the extent provided in title IX of the Education Amendments of 1972 [ et seq.]), or disabling condition; except that the prohibition with respect to religion shall not apply to an institution which is controlled by or which is closely identified with the tenets of a particular religious organization if the application of this section would not be consistent with the religious tenets of such organization.

Pub. L. 89–329, title III, § 344Pub. L. 102–325, title VII, § 704106 Stat. 745Pub. L. 105–244, title III, § 301(a)(3)112 Stat. 1636Pub. L. 110–315, title III, § 314(c)122 Stat. 3181(, formerly title VII, § 724, as added , , ; renumbered title III, § 344, , (4), , ; , , .)

Editorial Notes

References in Text

Pub. L. 92–31886 Stat. 235section 1681 of this titleThe Education Amendments of 1972, referred to in subsec. (d), is , , . Title IX of the Act, known as the Patsy Takemoto Mink Equal Opportunity in Education Act, is classified principally to chapter 38 (§ 1681 et seq.) of this title. For complete classification of title IX to the Code, see Short Title note set out under and Tables.

Codification

section 1132c–3 of this titlePub. L. 105–244Section was formerly classified to prior to renumbering by .

Prior Provisions

section 344 of Pub. L. 89–329section 1069 of this titlePub. L. 99–498A prior was classified to prior to the general amendment of this subchapter by .

Amendments

Pub. L. 110–315, § 314(c)(1)2008—Subsec. (a). , substituted “$1,100,000,000” for “$375,000,000” in introductory provisions.

Pub. L. 110–315, § 314(c)(2)Subsec. (a)(1). , substituted “$733,333,333” for “$250,000,000”.

Pub. L. 110–315, § 314(c)(3)Subsec. (a)(2). , substituted “$366,666,667” for “$125,000,000”.