Annual Loan Limits.—

Sec. 307. Annual Loan Limits.— (a) Amendment.— Section 468 of the Higher Education Amendments of 1992 is amended— (1) in paragraph (3), by striking “and” after the semicolon; (2) in paragraph (4), by striking the period and inserting “;and”; and (3) by adding at the end the following new paragraph: “(5) the changes in section 464(a)(2)(A), (B) and (C) shall not apply to any loan made for the award year beginning July 1, 1992 provided that the loan does not result in a violation of section 464(a)(2)(A), (B) and (C) as in effect prior to such date of enactment.”. (b) Effective Date.— The amendments made by subsection (a) shall take effect as if enacted on July 23, 1992.