The Secretary may have remitted or cancelled any part of a person’s indebtedness to the United States or any instrumentality of the United States if—
(1) the indebtedness was incurred while the person served as a member of the Coast Guard, whether as a regular or a reserve in active status; and
(2) the Secretary determines that remitting or cancelling the indebtedness is in the best interest of the United States.
(Aug. 4, 1949, ch. 393, 63 Stat. 530, § 461; Sept. 3, 1954, ch. 1263, § 33(b), 68 Stat. 1238; Pub. L. 87–526, § 1(1), July 10, 1962, 76 Stat. 141; Pub. L. 87–649, § 14d(7), Sept. 7, 1962, as added Pub. L. 89–718, § 73(a)(3), Nov. 2, 1966, 80 Stat. 1124; Pub. L. 89–718, § 73(c)(1), Nov. 2, 1966, 80 Stat. 1124; Pub. L. 90–83, § 2, Sept. 11, 1967, 81 Stat. 220; Pub. L. 94–546, § 1(29), Oct. 18, 1976, 90 Stat. 2521; Pub. L. 114–120, title II, § 203(a), Feb. 8, 2016, 130 Stat. 34; Pub. L. 114–328, div. A, title VI, § 671(b)(4), Dec. 23, 2016, 130 Stat. 2173; renumbered § 2769, Pub. L. 115–282, title I, § 116(b), Dec. 4, 2018, 132 Stat. 4226.)
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