Abreast of default by college student borrower to your any loan included in Government loan insurance coverage pursuant compared to that area, and you may ahead of the beginning off fit or any other enforcement procedures abreast of coverage for the mortgage, the insurance recipient shall on time notify the Assistant, therefore the Secretary's very own activity, should your insurance policy is however ultimately, spend for the beneficiary the degree of losing sustained by brand new covered abreast of that loan the moment one number has actually come computed. Plus
