Scope and duration of Federal loan insurance program

The total principal amount of new loans made and installments paid pursuant to lines of credit (as defined in section 1085 of this title ) to students covered by Federal loan insurance under this part shall not exceed $2,000,000,000 for the period from July 1, 1976 , to September 30, 1976 , for each of the succeeding fiscal years ending prior to October 1, 2009 , and for the period from October 1, 2009 , to June 30, 2010 , for loans first disbursed on or before June 30, 2010 .

( Pub. L. 89–329, title IV, § 424 , as added Pub. L. 99–498, title IV, § 402(a) , Oct. 17, 1986 , 100 Stat. 1358 ; amended Pub. L. 102–325, title IV, § 411(b)(1) , July 23, 1992 , 106 Stat. 510 ; Pub. L. 105–33, title VI, § 6104(1) , Aug. 5, 1997 , 111 Stat. 652 ; Pub. L. 105–244, title IV, § 414 , Oct. 7, 1998 , 112 Stat. 1679 ; Pub. L. 109–171, title VIII, § 8004(b)(1) , Feb. 8, 2006 , 120 Stat. 158 ; Pub. L. 110–315, title IV, § 421 , Aug. 14, 2008 , 122 Stat. 3227 ; Pub. L. 111–152, title II, § 2202 , Mar. 30, 2010 , 124 Stat. 1074 .)