technical amendment for part-time students

technical amendment for part-time students Sec. 463. (a) The portion of section 205(b) (2) of the National Defense Education Act of 1958 which precedes clause (A) (ii) thereof is amended to read as follows: “(2) such a loan shall be evidenced by a note or other written agreement which provides for repayment of the principal amount, together with interest thereon, in equal installments (or, if the borrower so requests, in graduated periodic installments determined in accordance with such schedules as may be approved by the Commissioner) payable quarterly, bimonthly, or monthly (at the option of the institution) over a period beginning nine months after the date on which the borrower ceases to carry, at an institution of higher education or at a comparable institution outside the States approved for this purpose by the Commissioner, at least one-half the normal full-time academic workload as determined by that institution, and ending ten years and nine months after such date, except that (A) interest shall not accrue on any such loan, and installments need not be paid during any period (i) during which the borrower is carrying, at an institution of higher education or at a comparable institution outside the States approved for this purpose by the Commissioner, at least one-half the normal full-time academic workload as determined by the institution,”. (b) Clause (D) of such section 205(b) (2) is amended by striking out “periodic”, and by striking out “part-time” and inserting in lieu thereof “less than half-time”. 79 Stat. 1253 (c) The amendments made by this section shall apply to a loan outstanding on the date of enactment of this Act only with the consent of the borrower and the institution which made the loan.