The Government Development Bank is hereby authorized to pay to those banks and institutions authorized, and which make loans to students residents of Puerto Rico, which loans are secured by the Government of the United States under the above-mentioned federal act, a subsidy which shall not exceed two percent (2%) annually on the balance of the principal of each loan, in excess of the interest allowed under said federal act. The borrowing students shall not be under the obligation to pay or reimburse said subsidy. History —May 30, 1969, No. 19, p. 33, § 2, eff. July 1, 1969.
Puerto Rico Legal Code