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42 U.S. Code § 292g

Risk-based premiums

42 U.S. Code § 292g. Risk-based premiums

(a) Authority
With respect to a loan made under this subpart on or after January 1, 1993, the Secretary, in accordance with subsection (b), shall assess a risk-based premium on an eligible borrower and, if required under this section, an eligible institution that is based on the default rate of the eligible institution involved (as defined in section 292o of this title).
(b) Assessment of premiumExcept as provided in subsection (d)(2), the risk-based premium to be assessed under subsection (a) shall be as follows:
(1) Low-risk rate
With respect to an eligible borrower seeking to obtain a loan for attendance at an eligible institution that has a default rate of not to exceed five percent, such borrower shall be assessed a risk-based premium in an amount equal to 6 percent of the principal amount of the loan.
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