20 USC 1087h – Funds for administrative expenses
(a) Administrative expenses
(1) Mandatory funds for fiscal year 2006
For fiscal year 2006, there shall be available to the Secretary, from funds not otherwise appropriated, funds to be obligated for—
(A) administrative costs under this part and part B, including the costs of the direct student loan programs under this part; and
(B) account maintenance fees payable to guaranty agencies under part B and calculated in accordance with subsections (b) and (c),
not to exceed (from such funds not otherwise appropriated) $820,000,000 in fiscal year 2006.
(2) Repealed. Pub. L. 113-67, div. A, title V, §502(2), Dec. 26, 2013, 127 Stat. 1187
(3) Authorization for administrative costs beginning in fiscal years 2007 through 2014
For each of the fiscal years 2007 through 2014, there are authorized to be appropriated such sums as may be necessary for administrative costs under this part and part B, including the costs of the direct student loan programs under this part.
(4) Continuing mandatory funds for account maintenance fees
For each of the fiscal years 2007 through 2021, there shall be available to the Secretary, from funds not otherwise appropriated, funds to be obligated for account maintenance fees payable to guaranty agencies under part B and calculated in accordance with subsection (b).
(5) Account maintenance fees
Account maintenance fees under paragraph (3) 1 shall be paid quarterly and deposited in the Agency Operating Fund established under section 1072b of this title.
(6) Technical assistance to institutions of higher education
(A) Provision of assistance
The Secretary shall provide institutions of higher education participating, or seeking to participate, in the loan programs under this part with technical assistance in establishing and administering such programs.
(B) Funds
There are authorized to be appropriated, and there are appropriated, to carry out this paragraph (in addition to any other amounts appropriated to carry out this paragraph and out of any money in the Treasury not otherwise appropriated), $50,000,000 for fiscal year 2010.
(C) Definition
In this paragraph, the term “assistance” means the provision of technical support, training, materials, technical assistance, and financial assistance.
(7) Additional payments
(A) Provision of assistance
The Secretary shall provide payments to loan servicers for retaining jobs at locations in the United States where such servicers were operating under part B on January 1, 2010.
(B) Funds
There are authorized to be appropriated, and there are appropriated, to carry out this paragraph (in addition to any other amounts appropriated to carry out this paragraph and out of any money in the Treasury not otherwise appropriated), $25,000,000 for each of the fiscal years 2010 and 2011.
(8) Carryover
The Secretary may carry over funds made available under this section to a subsequent fiscal year.
(b) Calculation basis
Account maintenance fees payable to guaranty agencies under subsection (a)(4) shall be calculated on the basis of 0.06 percent of the original principal amount of outstanding loans on which insurance was issued under part B.
(c) Budget justification
Terms Used In 20 USC 1087h
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
No funds may be expended under this section unless the Secretary includes in the Department of Education’s annual budget justification to Congress a detailed description of the specific activities for which the funds made available by this section have been used in the prior and current years (if applicable), the activities and costs planned for the budget year, and the projection of activities and costs for each remaining year for which administrative expenses under this section are made available.