- (a) Upon the date of an eligible borrower’s graduation or discontinuance of his or her course of study for more than six (6) months, all loan amounts then outstanding for loans received by the participating institution or institutions on behalf of such eligible borrower shall be combined into one (1) loan amount for accounting purposes.
- (b) The entire loan amount as described in subsection (a) of this section shall be the amount to be repaid by the eligible borrower, after any applicable periods of deferment, or forgiven under the terms and conditions of the note and this part.