PROGRAM DESIGNATION AND DURATION.

SEC. 411. PROGRAM DESIGNATION AND DURATION. (a) Name of Programs.— Part B of title IV of the Act (20 U.S.C. 1071 et seq.) is amended— (1) by striking the heading of such part and inserting the following: “Part B— Federal Family Education Loan Program” ; and (2) by striking section 421(c) (20 U.S.C. 1070f(c)), and inserting the following: “(c) Designation.— The program established under this part shall be referred to as the ‘Robert T. Stafford Federal Student Loan Program’. Loans made pursuant to sections 427 and 428 shall be known as ‘Federal Stafford Loans’.”. (b) Program Duration.— (1) Federal insurance duration.— Section 424(a) of the Act (20 U.S.C. 1074(a)) is amended— (A) by striking “October 1, 1992” and inserting “October 1, 1998”; and (B) by striking “September 30, 1997” and inserting “September 30, 2002”. (2) Interest subsidy duration.— Section 428(a)(5) (20 U.S.C. 1078(a)(5)) of the Act is amended— (A) by striking “September 30, 1992” and inserting “September 30, 1998”; and 106 STAT. 511 (B) by striking “September 30, 1997” and inserting “September 30, 2002”. (c) Guarantee Authority Contingent on Timely Rule-making.— Section 421 of the Act is amended by inserting after subsection (c) the following new subsection: “(d) Limitation on Authorization To Guarantee New Loans Under This Part.— Notwithstanding any other provision of this part, no new loan guarantees shall be issued after June 30, 1994, if the Secretary does not issue final regulations implementing the changes made to this part under the Higher Education Amendments of 1992 prior to that date. The authority to issue new loan guarantees shall resume upon the Secretary’s issuance of such regulations. This subsection shall not provide the basis for avoiding any requirements for notice and public hearing on such regulations.”.