§ 1464. — Maturity of loans; interest rate; interest deferral on educational loans.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 25USC1464]
TITLE 25--INDIANS
CHAPTER 17--FINANCING ECONOMIC DEVELOPMENT OF INDIANS AND INDIAN
ORGANIZATIONS
SUBCHAPTER I--INDIAN REVOLVING LOAN FUND
Sec. 1464. Maturity of loans; interest rate; interest deferral
on educational loans
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.
(Pub. L. 93-262, title I, Sec. 104, Apr. 12, 1974, 88 Stat. 78.)
Section Referred to in Other Sections
This section is referred to in section 1511 of this title.
