§ 2434. Termination of authority

• (a) Subject to subsection (b), the authority of the Secretary to carry out this subchapter terminates on the date that is 10 years after December 22, 2006 .
• (b) The termination of authority under subsection (a) shall have no effect on—
  • (1) any loans guaranteed by the United States under this subchapter; or
  • (2) the administration of any loan guaranteed under this subchapter before the effective date of the termination of authority.