34 C.F.R. § 682.702

Current through October 31, 2024
Section 682.702 - Effect on participation
(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 .

34 C.F.R. §682.702

57 FR 60323, Dec. 18, 1992, as amended at 59 FR 22457, Apr. 29, 1994; 78 FR 65822 , Nov. 1, 2013

Authority: 20 U.S.C. 1080 , 1082 , 1085 , 1094