34 C.F.R. 34 CFR--PART 674
Title 34 - Education
Effective Date(s): September 8, 2006 26. Section 674.34 is amended by: A. In paragraph (a), adding the words “paragraphs (b), (c), (d), (e), (f), and (g) of” immediately after the words “described in”. B. Redesignating paragraphs (h) and (i) as paragraphs (i) and (j), respectively. C. Adding a new paragraph (h). D. In newly redesignated paragraph (i), removing the word “and” immediately after the parenthetical “(f)”, adding the words “, and (h)” immediately after the parenthetical “(g),” and removing the words “paragraph (i)” and adding, in their place, the words “paragraph (j)”. E. In newly redesignated paragraph (j), removing the word “and” immediately after the parenthetical “(f)”, and adding the words “, and (h)” immediately after the parenthetical “(g)”. F. The addition reads as follows: * * * * * (h)(1) The borrower need not pay principal and interest does not accrue on a Federal Perkins Loan made on or after July 1, 2001, for any period not to exceed 3 years during which the borrower is— (i) Serving on active duty during a war or other military operation or national emergency; or (ii) Performing qualifying National Guard duty during a war or other military operation or national emergency. (2) Serving on active duty during a war or other military operation or national emergency means service by an individual who is— (i) A Reserve of an Armed Force ordered to active duty under 10 U.S.C. 12301(a), 12301(g), 12302, 12304, or 12306; (ii) A retired member of an Armed Force ordered to active duty under 10 U.S.C. 688 for service in connection with a war or other military operation or national emergency, regardless of the location at which such active duty service is performed; or (iii) Any other member of an Armed Force on active duty in connection with such emergency or subsequent actions or conditions who has been assigned to a duty station at a location other than the location at which the member is normally assigned. (3) Qualifying National Guard duty during a war or other operation or national emergency means service as a member of the National Guard on full-time National Guard duty, as defined in 10 U.S.C. 101(d)(5), under a call to active service authorized by the President or the Secretary of Defense for a period of more than 30 consecutive days under 32 U.S.C. 502(f) in connection with a war, other military operation, or national emergency declared by the President and supported by Federal funds. (4) As used in this section— (i) Active duty means active duty as defined in 10 U.S.C. 101(d)(1) except that it does not include active duty for training or attendance at a service school; (ii) Military operation means a contingency operation as defined in 10 U.S.C. 101(a)(13); and (iii) National emergency means the national emergency by reason of certain terrorist attacks declared by the President on September 14, 2001, or subsequent national emergencies declared by the President by reason of terrorist attacks. (5) These provisions do not authorize the refunding of any payments made by or on behalf of a borrower during a period for which the borrower qualified for a military service deferment. * * * * *
Amendment from August 09, 2006
34 CFR--PART 674
Amendment(s) published August 9, 2006, in 71 FR 45697
§ 674.34 Deferment of repayment—Federal Perkins loans, NDSLs and Defense loans.
