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Code of Federal Regulations Title 34. Education § 34.682.702 Effect on participation

Current as of January 02, 2025 | Updated by Findlaw Staff

(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)

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Cite this article: FindLaw.com - Code of Federal Regulations Title 34. Education § 34.682.702 Effect on participation - last updated January 02, 2025 | https://codes.findlaw.com/cfr/title-34-education/cfr-sect-34-682-702/

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