LENDER-OF-LAST-RESORT PROGRAMS.

SEC. 355. LENDER-OF-LAST-RESORT PROGRAMS. (a) Amendment.— Paragraph (1) of section 428(c) of the Higher Education Act of 1965 (20 U.S.C. 1078(c)(1)) is amended by adding at the end the following new subparagraph: “(G) Notwithstanding any other provision of this section, the Secretary shall exclude a loan made pursuant to a lender-of-last-resort program when making reimbursement payment calculations under subparagraphs (B) and (C).”. (b) Effective Date.— Subsection (a) and the amendment made by subsection (a) shall take effect on August 10, 1993.