### Question
How is the term borrower defined?


### Answer
The term **borrower** is defined in *20 U.S.C. § 1087e* as the following:

> an individual who is a new borrower on the date such individual applies for a loan under this part for which the first disbursement is made on or after July 1, 1993

#### Citation:
  - *20 U.S.C. § 1087e*
  - Heading: **CHAPTER 27-NATIONAL VOCATIONAL STUDENT LOAN INSURANCE > SUBCHAPTER IV-STUDENT ASSISTANCE > Part C-William D. Ford Federal Direct Loan Program**

