Source: https://www.law.cornell.edu/uscode/text/20/1080a
Timestamp: 2019-04-22 22:38:23+00:00

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the date of cancellation of the note upon completion of repayment by the borrower of the loan or payment by the Secretary pursuant to section 1087 of this title.
Such agreements may also provide for the disclosure by such consumer reporting agencies to the Secretary or a guaranty agency, whichever insures or guarantees a loan, upon receipt of a notice under subsection (a)(4) that such a loan is in default, of information concerning the borrower’s location or other information which may assist the Secretary, the guaranty agency, the eligible lender, or the subsequent holder in collecting the loan.
with regard to notices of default under subsection (a)(4) of this section, except for disclosures made to obtain the borrower’s location, the Secretary, or the guaranty agency, eligible lender, or subsequent holder whichever is applicable (A) shall not disclose any such information until the borrower has been notified that such information will be disclosed to consumer reporting agencies unless the borrower enters into repayment of his or her loan, but (B) shall, if the borrower has not entered into repayment within a reasonable period of time, but not less than 30 days, from the date such notice has been sent to the borrower, disclose the information required by this subsection.
A guaranty agency, eligible lender, or subsequent holder or consumer reporting agency which discloses or receives information under this section shall not be considered a Government contractor within the meaning of section 552a of title 5.
The Secretary and each guaranty agency, eligible lender, and subsequent holder of a loan are authorized to disclose information described in subsections (a) and (b) concerning student borrowers to the eligible institutions such borrowers attend or previously attended. To further the purpose of this section, an eligible institution may enter into an arrangement with any or all of the holders of delinquent loans made to borrowers who attend or previously attended such institution for the purpose of providing current information regarding the borrower’s location or employment or for the purpose of assisting the holder in contacting and influencing borrowers to avoid default.
in the case of a borrower who reenters repayment after defaulting on a loan and subsequently goes into default on such loan, 7 years from the date the loan entered default such subsequent time.
The Fair Credit Reporting Act, referred to in subsec. (a), is title VI of Pub. L. 90–321, as added by Pub. L. 91–508, title VI, § 601, Oct. 26, 1970, 84 Stat. 1127, as amended, which is classified generally to subchapter III (§ 1681 et seq.) of chapter 41 of Title 15, Commerce and Trade. For complete classification of this Act to the Code, see Short Title note set out under section 1601 of Title 15 and Tables.
A prior section 1080a, Pub. L. 89–329, title IV, § 430A, as added Pub. L. 99–272, title XVI, § 16023, Apr. 7, 1986, 100 Stat. 349; amended Pub. L. 99–320, § 2(c), May 23, 1986, 100 Stat. 491, related to reports to credit bureaus and institutions of higher education, prior to the general revision of this part by Pub. L. 99–498.
2009—Subsec. (f). Pub. L. 111–39, in introductory provisions, substituted “and (5)” for “and (6)” and “(a)(5)” for “(a)(6)”.
2008—Pub. L. 110–315, § 432(a)(1), substituted “consumer reporting agencies” for “credit bureaus” in section catchline.
Subsec. (a). Pub. L. 110–315, § 432(a)(2)(B)–(D), added pars. (1) and (3) and redesignated former pars. (1), (2) and (3) as (2), (4) and (5), respectively.
Pub. L. 110–315, § 432(a)(2)(A), in introductory provisions, substituted “the Secretary and” for “the Secretary,” and “an agreement with each consumer reporting agency” for “agreements with credit bureau organizations” in first sentence, “such consumer reporting agencies” for “such organizations” in two places and “insurance) or by” for “insurance), by” in second sentence, and “Secretary or” for “Secretary,” and “consumer reporting agencies” for “organizations” in third sentence.
Subsec. (b). Pub. L. 110–315, § 432(a)(3), substituted “consumer reporting agencies” for “organizations” and “subsection (a)(4)” for “subsection (a)(2)”.
Subsec. (c)(2). Pub. L. 110–315, § 432(a)(4)(A), substituted “consumer reporting agencies” for “organizations”.
Subsec. (c)(4). Pub. L. 110–315, § 432(a)(4)(B)(i), substituted “subsection (a)(4)” for “subsection (a)(2)”.
Subsec. (c)(4)(A). Pub. L. 110–315, § 432(a)(4)(B)(ii), substituted “consumer reporting agencies” for “credit bureau organizations”.
Subsec. (d). Pub. L. 110–315, § 432(a)(5), substituted “consumer reporting agency” for “credit bureau organization”.
1993—Subsec. (f)(1). Pub. L. 103–208 substituted a semicolon for the comma at end.
1987—Subsec. (e). Pub. L. 100–50 inserted sentence at end permitting an eligible institution to enter into arrangements with holders of delinquent loans made to borrowers for purpose of providing current information on borrower’s location or employment or to assist holder in contacting and influencing borrower to avoid default.

References: § 601
 § 430
 § 16023
 § 2
 § 432
 § 432
 § 432
 § 432
 § 432
 § 432
 § 432
 § 432