7 CFR 1703.308
§ 1703.308 Amount of deferment funds available.
United States · 7 CFR — Agriculture · Status: effective
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- Citation
- 7 CFR 1703.308, § 1703.308 Amount of deferment funds available, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/26803
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Full text
(a) The total amount of deferments made available for each fiscal year under this program will not exceed 3 percent of the total payments due during fiscal year 1993 from all borrowers on direct loans and insured loans made under the RE Act. For each subsequent fiscal year after 1993, the total amount of deferments will not exceed 5 percent of the total payments due for the year from all borrowers on direct loans and insured loans.
(b) The total amount of annual deferments are subject to limitations established by appropriations Acts.
Legislative history
This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.