Current as of October 03, 2022 | Updated by FindLaw Staff
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(a) Limitation, suspension, or termination proceedings by the Secretary do not affect a lender's responsibilities or rights to benefits and claim payments that are based on the lender's prior participation in the program, except as provided in § 682.709.
(b) A limitation imposes on a lender—
(1) A limit on the number or total amount of loans that a lender may purchase or hold under the FFEL Program; or
(2) Other reasonable requirements or conditions, including those described in § 682.709.
(c) A limitation imposes on a third-party servicer—
(1) A limit on the number of loans or accounts or total amount of loans that the servicer may service;
(2) A limit on the number of loans or accounts or total amount of loans that the servicer is administering under its contract with a lender or guaranty agency; or
(3) Other reasonable requirements or conditions, including those described in § 682.709.
(d) [Reserved by 78 FR 65822]
(Authority: 20 U.S.C. 1080, 1082, 1085, 1094)
Cite this article: FindLaw.com - Code of Federal Regulations Title 34. Education § 34.682.702 Effect on participation - last updated October 03, 2022 | https://codes.findlaw.com/cfr/title-34-education/cfr-sect-34-682-702/
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