TERMS AND CONDITIONS OF LOANS.

SEC. 2211. TERMS AND CONDITIONS OF LOANS. (a) In General.—Section 455 (20 U.S.C. 1087e) is amended— (1) in subsection (a)(1), by inserting “, and first disbursed on June 30, 2010,” before “under sections 428”; and (2) in subsection (g)— (A) by inserting “, including any loan made under part B and first disbursed before July 1, 2010” after “section 428C(a)(4)”; and (B) by striking the third sentence. (b) Effective Date.—The amendment made by subsection (a)(1) shall apply with respect to loans first disbursed under part D of title IV of the Higher Education Act of 1965 (20 U.S.C. 1087a et seq.) on or after July 1, 2010.