LEI NO. 10,260, OF July 12, 2001

Disposes on the Funding Fund to the Teaching student Superior and gives other arrangements.

THE PRESIDENT OF THE REPUBLIC

I do know that the National Congress decrees and I sanction the following Law:

CHAPTER I

OF THE FUNDING FUND TO THE STUDENT OF HIGHER EDUCATION (FIES)

Art. 1º Stay instituted, pursuant to this Law, the Higher Education Student Financing Fund (FIES), of an accounting nature, intended for the granting of funding to students regularly enrolled in non-free upper courses and with a positive assessment, according to own regulation, in the processes conducted by the Ministry of Education (MEC).

Single paragraph. The participation of the Union in the funding to the non-free higher education student shall, exclusively, give contributions to the Fund established by this Act, ressaving the provisions of the art. 16.

SECTION I

Of the revenues of the FIES

Art. 2º Constitutions revenue of the FIES:

I-appropriations budget earmarked for MEC, ressaving the provisions of the art. 16;

II-thirty percent of the net income of prognostic contests administered by the Federal Economic Box, as well as the totality of the award proceeds not sought by the contemplated within the limitation period, re-salvaged the provisions of the art. 16;

III-charges and penalties contractually charged in the financing provided to the amparo of this Act;

IV-fees and emoluments collected from the participants of the selection processes for the financing;

V-charges and contractually charged sanctions in the funding provided under the Educational Credit Program, which deals with Law No. 8,436 of June 25, 1992, resonated the provisions of the art. 16;

VI-throughput of financial applications on their availabilities; and

VII-heritage revenues.

§ 1º Stay authorized:

I-the hiring, by the agent operator of the FIES, of internal and external credit operations in the disciplined form by the National Monetary Council (CMN);

II-the transfer to the FIES of the debtor balances of the financing granted under the Educational Credit Program of which it treats Law No. 8,436, 1992;

III-the alienation, total or partial, to financial institutions accredited to this end by the CMN, of the assets of which it treats the previous inciso and assets represented by financing granted to the amparo of this Law.

§ 2º The cash availabilities of the FIES should be kept in deposit on the National Treasury's single account.

§ 3º The administrative expenses of the FIES, as per regulation of the CMN, will correspond to:

I-up to zero comma two percent a year to the operator agent, by the management of the Fund, calculated on their availabilities;

II-up to zero comma three percent a year to the operator agent, by the management of the Fund, calculated on the debtor balance of the repasses to financial institutions;

lII-up to a comma five percent a year to financial agents, calculated on the debtor balance, by the administration of the credits granted and absorption of the credit risk effectively characterized, in the percent established in the inciso V of the art. 5º.

§ 4º The payment of the obligations arising from the operations of which it treats the inciso I of § 1º shall take precedence over all the remaining expenses.

§ 5º The debtor balances disposed to the amparo of inciso III of § 1º of this article will be able to be renegotiated between the acquiring financial institution and the debtor, second conditions that they establish, concerning the updating of debits constituted, debtor balances, deadlines, interest rates, guarantees, values of benefits and eventual discounts, observed the following:

I-possible conditions of renegotiation and discharge established by the procuring financial institution should contemplate, at a minimum, the recovery of the nominal values disbursed;

II-the acquiring institutions are expected to submit to the MEC, until the day 10 of each month, report referring to the contracts renegotiated and settled in the previous month, containing the contract number, debtor's name, debtor balance, renegotiated or settled value, amount and value of benefits, interest rate, in addition to other judging information required by MEC.

SECTION II

From the management of FIES

Art. 3º The management of FIES will fit:

I-to the MEC, as the formulator of the funding offer policy and the supervisor of the implementation of the Fund's operations; and

II-to the Federal Economic Box, in the quality of operator and managing agent of the assets and liabilities, as per regulation and standards downloaded by the CMN.

§ 1º The MEC will edit regulation that will have, inclusive, on:

I-the selection rules of students to be funded by the FIES;

II-the cases of temporary suspension and termination of the contracts of funding;

III-the demands for academic performance for the maintenance of funding.

§ 2º The Ministry of Education will be able to count on the advisory board, of a consultative nature, whose members will be appointed by the Minister of State.

§ 3º According to the credit limits set by the operator agent, the financial institutions will be able to, as a financial agent, grant funding with resources from the FIES.

CHAPTER II

DAS OPERATIONS

Art. 4º They are liable for funding by the FIES up to seventy percent of the educational burdens charged to students by the higher education institutions duly enrolled for that purpose by the MEC, in contravening to the undergraduate courses in which they are regularly enrolled.

§ 1º The enrollment of which treats the caput of this article far-shall be per course offered, being vehemented to grant funding in the courses with negative evaluation in the processes conducted by the MEC.

§ 2º Could the Ministry of Education, in exceptional character, enroll, for the purposes of the funding of which treats this Act, courses for which there is no completed evaluation process.

§ 3º Each student will be able to empower only one funding, intended for coverage of expenditure relating to a single degree course, being vetted the granting to student that there is participated in the Educational Credit Program of which it treats Law No. 8,436, 1992.

Art. 5º The funding granted with proceeds from the FIES should note the following:

I-term: it may not be higher than the regular duration of the course;

II-interest: to be stipulated by the CMN, for each school semester, applying from the date of the celebration to the end of the student's participation in the funding;

III-offer of adequate guarantees by the student funded;

IV-amortization: will begin in the month immediately subsequent to the completion of the course, or in advance, on the initiative of the funded student, calculating-whether the benefits, in any case:

a) in the first twelve months of amortization, in value equal to that of the instalment paid directly by the student financed to the higher education institution in the semester immediately preceding;

b) parceling the remaining debtor balance in period equivalent to up to one time and a half the term of stay in the funded student condition;

V-risk: Financial agents and higher education institutions will participate in the risk of funding in the twenty percent and five percent, respectively, being considered supportive debtors in the specified limits;

VI-proof of cadastral idoneity of the student and of the guarantor (s) in the signing of the contracts.

§ 1º Throughout the period of use of the financing, the funded student is required to pay, quarterly, the interest incidents on the financing, limited to the amount of R$ 50.00 (real fifty).

§ 2º It is allowed to the funded student, at any time, to observe the regulation of the CMN, perform extraordinary amortizations of the funding.

§ 3º Exceptionally, on the initiative of the higher education institution to which it is bound, can the student dilate in up to one year the time frame of which treats the inciso I of the caput of this article, hypothesis in which the conditions of amortization will remain those set out in the inciso IV and its points (s).

§ 4º In the cadastral inidoneity check hypothesis of the student or his / her guarantor (s) after the signing of the contract, will overstated the addition of the same until the restoration of the restoration of the respective idoneity, or the replacement of the inidôneous guarantor.

Art. 6º In case of inaddition of the benefits due by the funded student, the institution referred to in § 3º of the art. 3º­ will promote the execution of contractual guarantees, as state lecturer taught by the institution of which it treats the inciso II of the caput of the same article, repassing the FIES and the higher education institution the part concernable at their risk.

CHAPTER III

OF PUBLIC DEBT SECURITIES

Art. 7º Stay the Union authorized to issue public debt securities in favor of the FIES.

§ 1º The titles to which refer to the caput will be represented by National Treasury issuance certificates, with characteristics set in act of the Executive Power.

§ 2º The certificates referred to in the preceding paragraph will be issued in the form of direct placement, on par, upon express request of the FIES to the National Treasury Board Secretariat.

§ 3º The resources in current currency delivered by the FIES in consideration of the direct placement of the certificates will be used exclusively for abatement of the Treasury's public liability debt National.

Art. 8º In contrast to the direct placement of the certificates, stands the FIES authorized to use in payment the securitized credits received in the form of the art. 14.

Art. 9º The certificates of which it treats Article 7º shall be earmarked by the FIES exclusively for payment to the higher education institutions of the educational charges concerning the financing operations carried out with resources of the FIES.

Art. 10. Certificates received by higher education institutions in the form of Article 9º will be used for payment of pension obligations to the National Institute of Social Insurance (INSS), by staying this authorised to receive them.

§ 1º It is provided to the higher education institutions the negotiation of the certificates of which it treats this article with other legal persons.

§ 2º The certificates negotiated in the form of the preceding paragraph could be accepted by the INSS as payment of debits referring to competences prior to February 2001.

Art. 11. The Registry of the National Treasury shall rescue, upon formal request from the INSS, the certificates destined for that Office in the form of Article 10.

Art. 12. The Office of the National Treasury shall be authorized to rescue in advance, upon formal request of the FIES and attested by the INSS, the certificates, with date of issue up to 1º November 2000, in power of higher education institutions which, on the date of solicitation of the rescue, have satisfied the current pension obligations, inclusive of the required debentures, constituted, enrolled or helped, and which meet, concomitantly, the following conditions:

I-are not in arrears in the payments regarding the parcelings agreements due to the INSS;

II-do not own parcelings of social contributions concerning the insured persons employed;

III-if optants of the Fiscal Recovery Program (REFIS), have not included social contributions raised by the INSS;

IV-do not figure as litigants or litisconsorts in lawsuits in which they discuss social contributions raised by the INSS or contributions regarding salarium-education.

Single partagraph. From the higher education institutions that possess parcelings agreements to the INSS and to be covered in this article, they will be able to be rescued up to fifty percent of the value of certificates, by staying these obliged to use the certificates remaining, in its power, in the amortization of the alluded to parcelings agreements.

Art. 13. It stands the FIES allowed to repurchase, on par, the certificates alluded to in the art. 9º, upon use of the resources referred to in the inciso II of the art. 2º, ressaved the provisions of the art. 16, in power of the higher education institutions that meet the provisions of the art. 12.

Art. 14. For the purposes of the alienation of which it treats the inciso III of § 1º of the art. 2º, stands the FIES authorized to receive in payment securitized claims of liability of the National Treasury, originating in the securitization transactions of debts in the manner provided for in paragraph 2º (b) of the Art. 1º of Law No. 10,150 of December 21, 2000.

Single paragraph. For the purpose of receiving the securitized credits in the form predicted in the caput will be observed the economic equivalence criterion among the assets involved.

Art. 15. The operations to which the arts relate. 8º to 11 shall be carried out on par, ressaved as referred to in § 1º of the art. 10.

CHAPTER IV

OF THE GENERAL AND TRANSITIONAL PROVISIONS

Art. 16. In the exercises of 1999 and following, of the recipes referred to in the incisos I, II and V of the art. 2º will be deducted the resources required for payment of the educational charges contracted under the Educational Credit Program of which it treats Law No. 8,436, 1992.

Art. 17. Exceptionally, in the 1999 financial year, they will be jus to the funding that it treats this Act, with effect from 1º May 1999, the demonstrably lacking students who have left to benefit from full or partial scholarships granted by the institutions referred to in art. 4º of Law No. 9,732, of 1998, in value corresponding to the scholarship previously received.

Single paragraph. To the financing of which it treats the caput of this article does not apply to the provisions of the final part of the art. 1º and in § 1º of the art. 4º.

Art. 18. It becomes vetted, as of the publication of this Act, the inclusion of new beneficiaries in the Educational Credit Program of which it treats Law No. 8,436, 1992.

Art. 19. From the first half of 2001, without prejudice to the fulfillment of the remaining conditions set out in this Act, the educational institutions framed in the art. 55 of Law No. 8,212 of July 24, 1991, they are required to apply the equivalent of the contribution calculated in the terms of the art. 22 of the said Act in the granting of scholarships, in the percentage equal to or greater than 50% of the educational burdens charged by educational institutions, to students demonstrably needy and regularly enrolled.

§ 1º The selection of the students to be benefited in the terms of the caput will be held at each institution by a commission constituted parity by representatives of the direction, faculty and entity of student representation.

§ 2º In the institutions that do not administer higher education will fit the parents of the pupils regularly enrolled the seats reserved for the student representation at the commission of which treats the preceding paragraph.

§ 3º In the educational institutions in which there is no student representation or organized parents, it will be up to the institution's leader to proceed to the election of the representatives in the committee that it treats § 1º.

§ 4º After the completion of the selection process, the educational institution should refer to the MEC and the INSS the relationship of all students, with address and personal data, which have received scholarships.

§ 5º Teaching institutions will replace the beneficiary students who do not effect their enrolment on the regulatory deadline, observed the criteria of selection laid out in this article.

Art. 20. They are convalidated the acts practiced on the basis of the Provisional Measure No. 2.094-28 of June 13, 2001 and in their predecessors.

Art. 21. This Act comes into force on the date of its publication.

Art. 22. The single paragraph of the art is revoked. 9º of Law No. 10,207, of March 23, 2001.

Brasilia, July 12, 2001; 180º of Independence and 113º of the Republic.

FERNANDO HENRIQUE CARDOSO

Pedro Malan

Paulo Renato Souza

Martus Tavares

Roberto Brant