EXPANSION OF EDUCATION LOAN REPAYMENT PROGRAM FOR MEMBERS OF THE SELECTED RESERVE.

SEC. 672. EXPANSION OF EDUCATION LOAN REPAYMENT PROGRAM FOR MEMBERS OF THE SELECTED RESERVE.(a) Additional Educational Loans Eligible for Repayment.—Paragraph (1) of subsection (a) of section 16301 of title 10, United States Code, is amended—(1) by striking “or” at the end of subparagraph (B);(2) by striking the period at the end of subparagraph (C) and inserting “; or”; and(3) by inserting after subparagraph (C) the following new subparagraph:“(D) any loan incurred for educational purposes made by a lender that is—“(i) an agency or instrumentality of a State;“(ii) a financial or credit institution (including an insurance company) that is subject to examination and supervision by an agency of the United States or any State;“(iii) a pension fund approved by the Secretary for purposes of this section; or122 STAT. 185“(iv) a nonprofit private entity designated by a State, regulated by that State, and approved by the Secretary for purposes of this section.”.(b) Participation of Officers in Program.—Such subsection is further amended—(1) in paragraph (2)—(A) by striking “Except as provided in paragraph (3), the Secretary” and inserting “The Secretary”; and(B) by striking “an enlisted member of the Selected Reserve of the Ready Reserve of an armed force in a reserve component and military specialty” and inserting “a member of the Selected Reserve of the Ready Reserve of an armed force in a reserve component and in an officer program or military specialty”; and(2) by striking paragraph (3).(c) Clerical Amendments.—(1) Section heading.—The heading of such section is amended to read as follows:“§ 16301. Education loan repayment program: members of Selected Reserve” .(2) Table of sections.—The table of sections at the beginning of chapter 1609 of such title is amended by striking the item relating to section 16301 and inserting the following new item: “16301. Education loan repayment program: members of Selected Reserve.”.