National Student Loan Bank Act

[AI summary unavailable — showing source text] National Student Loan Bank Act - Establishes the National Student Loan Bank as a nonprofit corporation of the District of Columbia. States that it shall be the function of such Bank to extend loans not exceeding the cost of attendance to any student who has been accepted for enrollment in an eligible institution and is carrying at least one-half the normal full-time academic workload. Requires such loans to be evidenced by a written agreement, made without security and without endorsement, providing for repayment of such loans in accordance with provisions of this Act. Stipulates that repayment shall begin no later than one year after the borrower ceases to carry at an eligible institution at least one-half the normal full-time academic workload. States that delinquent accounts shall be treated in the same manner as delinquent Federal taxes. Directs the Bank to establish offices easily accessible to students in all parts of the country. Authorizes the Bank to issue and have outstanding obligations, guaranteed by the Secretary of the Treasury, having such maturities and rates of interest as determined by the bank with the approval of the Secretary. Authorizes the Secretary to establ…