34 C.F.R. 34 CFR--PART 685
Title 34 - Education
Effective Date(s): September 8, 2006 67. Section 685.201 is amended by revising paragraph (b) to read as follows: * * * * * (b) Application for a Direct PLUS Loan. (1) For a parent to obtain a Direct PLUS Loan, the parent must complete the Direct PLUS MPN and submit it to the school at which the student is enrolled. (2) For a graduate or professional student to apply for a Direct PLUS Loan, the student must complete a Free Application for Federal Student Aid and submit it in accordance with instructions in the application. The graduate or professional student must also complete the PLUS MPN and submit it to the school. (3) For either a parent or student PLUS borrower, as applicable, the school must complete its portion of the PLUS MPN and submit it to the Servicer, which makes a determination as to whether the parent or graduate or professional student has an adverse credit history. Unless a school's agreement with the Secretary specifies otherwise, the school must perform the following functions: A school participating under school origination option 2 must draw down funds and disburse the funds. For a school participating under school origination option 1 or standard origination, the Servicer initiates the drawdown of funds, and the school disburses the funds. * * * * *
Amendment from August 09, 2006
34 CFR--PART 685
Amendment(s) published August 9, 2006, in 71 FR 45711
§ 685.201 Obtaining a loan.
