insured student loans—extension of program

insured student loans—extension of program Sec. 132. (a) (1) The first sentence of section 424(a) of the Higher Education Act of 1965 is amended to read as follows: “The total principal amount of new loans made and installments paid pursuant to lines of credit (as defined in section 435) to students covered by Federal loan insurance under this part shall not exceed $1,400,000,000 for the fiscal year ending June 30, 1972, $1,600,000,000 for the fiscal year ending June 30, 1973, $1,800,000,000 for the fiscal year ending June 30, 1974, and $2,000,000,000 for the fiscal year ending June 30, 1975.” (2) Such section 424(a) is further amended by striking out “June 30, 1975” and inserting in lieu thereof “June 30, 1979”. (b) Paragraph (4) of section 428 (a) of such Act is amended (1) by striking out “June 30, 1971” and inserting in lieu thereof “June 30, 1975” and (2) by striking out “shall end at the close of June 30, 1975” and inserting in lieu thereof “shall end at the close of June 30, 1979”. (c) Section 433(c) of such Act is amended by striking out “two succeeding fiscal years” and inserting in lieu thereof “succeeding fiscal years ending prior to July 1, 1975”. (d) The amendments made by this section shall be effective after June 30, 1971.