Code of Federal Regulations Title 34. Education § 34.682.711 Reinstatement after termination

(1) Eighteen months from the effective date of the termination;  or

(2) The expiration of the period of debarment under Executive Order 12459 or the Federal Acquisition Regulation (FAR), 48 CFR part 9, subpart 9.4.

(1) The lender or servicer has corrected any violations on which the termination was based;  and

(2) The lender or servicer meets all requirements for eligibility.

(1) Grants the request;

(2) Denies the request;  or

(3) Grants the request subject to limitations.

(d)(1) If the Secretary denies the lender's or servicer's request or allows reinstatement subject to limitations, the lender or servicer, upon request, is given an opportunity to show why its eligibility should be reinstated and all limitations removed.

(2) A lender or third-party servicer whose eligibility to participate in the FFEL programs is reinstated subject to limitations imposed by the Secretary pursuant to paragraph (c)(3) of this section, may participate in those programs, subject to those limitations, pending a decision by the Secretary on a request under paragraph (d)(1) of this section.