7 U.S. Code § 912 - Extension of time for repayment of loans
The Secretary is authorized and empowered to extend the time of payment of interest or principal of any loans made by the Secretary pursuant to this chapter, except that, with respect to any loan made under section 904 or 922 of this title, the payment of interest or principal shall not be extended more than five years after such payment shall have become due.
The total amount of a deferment under this subsection shall not exceed the sum of the principal and interest on the loans made to a customer of the borrower, as determined by the Secretary.
2008—Subsec. (c). Pub. L. 110–246, § 6103, added subsec. (c).
1996—Subsec. (a). Pub. L. 104–127 substituted “, except that, with respect to any loan” for “:
1994—Subsecs. (a), (b)(1), (4). Pub. L. 103–354 substituted “Secretary” for “Administrator” wherever appearing.
1990—Pub. L. 101–624 designated existing provisions as subsec. (a) and added subsec. (b).
1949—Act Oct. 28, 1949, inserted “or section 922” after “904” in first proviso, and inserted “title I,” in credit of act May 20, 1936.
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