excepted loan
Defined in 1 dictionary — U.S. Code
United States Code
20 U.S.C. § 1087E — under this part
For the purposes of this paragraph, the term “excepted loan” means a loan with an outstanding balance that is—
(I) a Federal Direct PLUS Loan that is made on behalf of a dependent student; or
(II) a Federal Direct Consolidation Loan, if the proceeds of such loan were used to discharge the liability on—
(aa) an excepted PLUS loan, as defined in section 1098e(a)(1) of this title; or
(bb) an excepted consolidation loan (as such term is defined in section 1098e(a)(2)(A) of this title, notwithstanding subparagraph (B) of such section).