34 C.F.R. 34 CFR--PART 685
Title 34 - Education
Effective Date(s): September 8, 2006 66. Section 685.200 is amended by: A. In paragraph (a), revising the paragraph heading to read as set forth below. B. Redesignating paragraphs (b), (c), and (d) as paragraphs (c), (d), and (e), respectively. C. Adding a new paragraph (b). D. In newly redesignated paragraph (c), revising the paragraph heading to read as set forth below and adding a new paragraph (c)(3). E. In newly redesignated paragraph (c)(1)(vii)(B) introductory text, removing the reference to “(b)(1)(vii)(A)” and adding, in its place, a reference to “(c)(1)(vii)(A)”. F. In newly redesignated paragraph (c)(1)(vii)(C), removing the reference to “(b)(1)(vii)(A)” adding, in its place, a reference to “(c)(1)(vii)(A)”. G. In newly redesignated paragraph (c)(2), removing the reference to “(b)(1)” and adding, in its place, a reference to “(c)(1)”. H. In newly redesignated paragraph (d), by removing the reference to “685.220(d)(1)(ii)(F)” and adding, in its place, a reference to “685.220(d)(1)(ii)(D)”. I. Revising newly redesignated paragraph (e). The additions read as follows: (a) Student Direct Subsidized or Direct Unsubsidized borrower. * * * * * (b) Student PLUS borrower. (1) A graduate or professional student is eligible to receive a Direct PLUS Loan originated on or after July 1, 2006, if the student meets the following requirements— (i) The student is enrolled, or accepted for enrollment, on at least a half-time basis in a school that participates in the Direct Loan Program. (ii) The student meets the requirements for an eligible student under 34 CFR part 668. (iii) The student meets the requirements of paragraphs (a)(1)(iv) and (a)(1)(v) of this section, if applicable. (iv) The student has received a determination of his or her annual loan maximum eligibility under the Federal Direct Stafford/Ford Loan Program and the Federal Direct Unsubsidized and Stafford/Ford Loan Program; and (v) The student does not have an adverse credit history in accordance with paragraph (c)(1)(vii) of this section. * * * * * (c) Parent PLUS borrower. * * * * * (3) Has completed repayment of any title IV, HEA program assistance obtained by fraud, if the parent has been convicted of, or has pled nolo contendere or guilty to, a crime involving fraud in obtaining title IV, HEA program assistance. * * * * * (e) Use of loan proceeds to replace expected family contribution. The amount of a Direct Unsubsidized Loan, a Direct PLUS loan, or a non-federal non-need based loan, including a private, state-sponsored, or institution loan, obtained for a loan period may be used to replace the expected family contribution for that loan period. * * * * *
Amendment from August 09, 2006
34 CFR--PART 685
Amendment(s) published August 9, 2006, in 71 FR 45710
§ 685.200 Borrower eligibility.
