US Code

Public Law 119-83 (04/13/2026)

20 U.S.C. § 1087gg

Collection of defaulted loans: Perkins Loan Revolving Fund

(a)

Authority of Secretary to collect referred, transferred, or assigned loans

With respect to any loan—
(1)
which was made under this part, and
(2)
section 1087cc(a) of this title which is referred, transferred, or assigned to the Secretary by an institution with an agreement under ,
the Secretary is authorized to attempt to collect such loan by any means authorized by law for collecting claims of the United States (including referral to the Attorney General for litigation) and under such terms and conditions as the Secretary may prescribe, including reimbursement for expenses reasonably incurred in attempting such collection.
(b)

Collection of referred, transferred, or assigned loans

section 1087cc(a) of this titleThe Secretary shall continue to attempt to collect any loan referred, transferred, or assigned under paragraph (4) or (5) of until all appropriate collection efforts, as determined by the Secretary, have been expended.

Pub. L. 89–329, title IV, § 467Pub. L. 99–498, title IV, § 405(a)100 Stat. 1453 Pub. L. 102–325, title IV, § 467106 Stat. 584 Pub. L. 105–244, title IV, § 467(a)112 Stat. 1728 Pub. L. 111–39, title IV, § 405(6)123 Stat. 1947 (, as added , , ; amended , , ; , , ; , , .)

Editorial Notes

Prior Provisions

Pub. L. 89–329, title IV, § 467Pub. L. 96–49, § 5(d)(3)(A)93 Stat. 352 Pub. L. 96–374, title IV, § 445(c)94 Stat. 1442 Pub. L. 99–272, title XVI, § 16029100 Stat. 354 Pub. L. 99–498A prior section 1087gg, , as added , , ; amended , title XIII, § 1391(a)(1), , , 1503; , , , related to collection of defaulted loans, prior to the general revision of this part by .

Amendments

Pub. L. 111–392009—Subsec. (b). substituted “paragraph (4) or (5)” for “paragraph (5)(A), (5)(B)(i), or (6)”.

Pub. L. 105–2441998—Subsec. (c). 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.

Pub. L. 102–3251992— amended section catchline generally, inserting “: Perkins Loan Revolving Fund” after “loans” and added subsec. (c).

Statutory Notes and Related Subsidiaries

Effective Date of 2009 Amendment

Pub. L. 111–39Pub. L. 110–315section 3 of Pub. L. 111–39section 1001 of this titleAmendment by effective as if enacted on the date of enactment of (), see , set out as a note under .

Effective Date of 1998 Amendment

Pub. L. 105–244Pub. L. 105–244section 3 of Pub. L. 105–244section 1001 of this titleAmendment by effective , except as otherwise provided in , see , set out as a note under .

Effective Date of 1992 Amendment

Pub. L. 102–325section 468(4) of Pub. L. 102–325section 1087dd of this titleAmendment by to this section, relating to creation of Perkins Loan Revolving Fund, effective , see , set out as a note under .

Transfer of Balance

Pub. L. 105–244, title IV, § 467(b)112 Stat. 1728

“Any funds in the Perkins Loan Revolving Fund on the date of enactment of this Act [] shall be transferred to and deposited in the Treasury.”
, , , provided that: