insurance liability

insurance liability Sec. 132B. (a) Section 425(b) of the Higher Education Act of 1965 is amended to read as follows: “(b) The insurance liability on any loan insured by the Commissioner under this part shall be 100 per centum of the unpaid balance of the principal amount of the loan plus interest. The full faith and credit of the United States is pledged to the payment of all amounts which may he required to be paid under the provisions of section 430 or 437 of this part.”. (b) Section 427 (a)(2)(D) of such Act is amended by striking out the following: “(but without thereby increasing the insurance liability under this part) ”. (c) The last sentence of section 430(a) of such Act is amended by striking out “of the loan (other than interest added to principal) ” and inserting in lieu thereof the following: “and interest”.