excepted consolidation loan
Defined in 1 place of the United States Code.
The term “excepted consolidation loan” means a consolidation loan under section 1078–3 of this title, or a Federal Direct Consolidation Loan, if the proceeds of such loan were used to the discharge the liability on an excepted PLUS loan.
Source
- 2007–202520 U.S.C. § 1098EEducation · Income-based repayment · in this section
The term “excepted consolidation loan” means—
(i) a consolidation loan under section 1078–3 of this title, or a Federal Direct Consolidation Loan, if the proceeds of such loan were used to discharge the liability on an excepted PLUS loan; or
(ii) a consolidation loan under section 1078–3 of this title, or a Federal Direct Consolidation Loan, if the proceeds of such loan were used to discharge the liability on a consolidation loan under section 1078–3 of this title, or a Federal Direct Consolidation Loan described in clause (i).
Source
- 2025–present20 U.S.C. § 1098EEducation · Income-based repayment · in this section