20 U.S. Code 1080 - Default of pupil less than Government financing insurance program
Upon standard by college student debtor with the one financing protected by Government mortgage insurance rates pursuant to this region, and you will before the commencement off suit and other administration process upon security for that loan, the insurance recipient will on time notify the Assistant, additionally the Secretary's own action, should your insurance is nevertheless in essence, spend to the recipient the level of losing supported by the new insured up on a loan whenever that amount provides been computed.Read more
