US Code

Public Law 119-102 (07/12/2026)

20 U.S.C. § 981 to 996

Repealed. Pub. L. 90–575, title I, § 116(c)(1), Oct. 16, 1968, 82 Stat. 1024

Section text and notes

Pub. L. 89–287, § 279 Stat. 1037 Pub. L. 90–460, § 2(d)(3)82 Stat. 634 Section 981, , , ; , , , set forth Congressional declaration of purpose for the chapter and authorized appropriations to carry out such purpose.

Pub. L. 89–287, § 179 Stat. 1037 Pub. L. 89–287Section 981 note, , , , provided that , which enacted this chapter, be cited as the National Vocational Loan Insurance Act of 1965.

Pub. L. 89–287, § 379 Stat. 1037 Section 982, , , , authorized Commissioner to make advances to State and nonprofit private loan insurance programs.

Pub. L. 89–287, § 479 Stat. 1038 Section 983, , , , prohibited Commissioner from issuing certificates of insurance to lenders in States having adequate non-Federal loan insurance programs.

Pub. L. 89–287, § 579 Stat. 1038 Pub. L. 90–460, § 1(b)(1)82 Stat. 634 Section 984, , , ; , , , set forth scope and duration of loan insurance program of this chapter.

Pub. L. 89–287, § 679 Stat. 1039 Section 985, , , , limited annual and aggregate amounts available to individuals as loans and covered by insurance under this chapter.

Pub. L. 89–287, § 779 Stat. 1039 Section 986, , , , provided for insurance coverage for loans made by eligible lenders, regardless of source of such loaned funds.

Pub. L. 89–287, § 879 Stat. 1039 Pub. L. 90–460, § 2(c)(1)82 Stat. 634 Section 987, , , ; , , , set forth prerequisites of student eligibility and terms and conditions of note executed by student.

Pub. L. 89–287, § 979 Stat. 1041 Pub. L. 90–46082 Stat. 634 Section 988, , , ; , §§ 1(b)(2), 2(c)(2), (d), , , provided for reduction of student interest costs by Federal payments.

Pub. L. 89–287, § 1079 Stat. 1043 Pub. L. 90–460, § 1(b)(3)82 Stat. 634 Section 989, , , , , , , authorized Commissioner to make direct loans to students residing in areas where loans insurable under this chapter are unavailable.

Pub. L. 89–287, § 1179 Stat. 1043 Section 990, , , , provided for certificates of insurance to be issued to eligible lenders.

Pub. L. 89–287, § 1279 Stat. 1045 Section 991, , , , set forth procedure for collection in case of default, death, or disability of student borrower.

Pub. L. 89–287, § 1379 Stat. 1046 Section 992, , , , established Vocational Student Loan Insurance Fund.

Pub. L. 89–287, § 1479 Stat. 1047 Section 993, , , , enumerated powers and duties of Commissioner with respect to carrying out purposes of this chapter.

Pub. L. 89–287, § 1579 Stat. 1048 Section 994, , , , established Advisory Council on Insured Loans to Vocational Students in the Office of Education.

Pub. L. 89–287, § 1679 Stat. 1048 Section 995, , , , authorized Federal credit unions to make insured loans to student members.

Pub. L. 89–287, § 1779 Stat. 1048 Section 996, , , , defined “eligible institution”, “eligible lender”, “line of credit”, “State”, “Secretary”, and “Commissioner”.

Statutory Notes and Related Subsidiaries

Effective Date of Repeal

section 116(e) of Pub. L. 90–575Repeal applicable to loans made on or after the 60th day after , see .

Transfer of Assets and Liabilities of the Vocational Student Loan Insurance Fund

Pub. L. 90–575, title I, § 116(c)(2)82 Stat. 1024

section 992 of this titlesection 1081 of this titlesection 1083 of this title“All assets and liabilities of the vocational student loan insurance fund established by section 13 of the National Vocational Student Loan Insurance Act of 1965 [], matured or contingent, shall be transferred to, and become assets and liabilities of, the student loan insurance fund established by section 431 of the Higher Education Act of 1965 []. Payments in connection with defaults of loans made on or after the sixtieth day after the date of enactment of this Act [] and insured by the Commissioner (under the authority of subsection (e)(3) or (e)(4) of this section [set out as a note under ]) under the National Vocational Student Loan Insurance Act of 1965 [sections 981 to 996 of this title] shall be paid out of the fund established by such section 431.”
, , , provided that: