34 C.F.R. 34 CFR--PART 682
Title 34 - Education
Effective Date(s): September 8, 2006 35. Section 682.102 is amended by: A. In paragraph (a), by removing the words “or contacting” and adding, in their place, the words “and contacting”. B. Revising paragraphs (c) and (d). C. In paragraph (e)(1), in the third sentence removing the words “The borrower's obligation to repay a PLUS Loan” and adding, in their place, the words “A parent borrower's obligation to repay a PLUS loan”. The revision reads as follows: * * * * * (c) PLUS loan application. (1) For a parent to obtain a PLUS loan, the parent completes an application and submits it to the school for certification. After the school certifies the application, the application is submitted to a participating lender. If the lender decides to make the loan, the lender obtains a loan guarantee from a guaranty agency or the Secretary. Prior to loan disbursement, the parent completes a PLUS MPN, unless the parent has previously completed a PLUS MPN that the lender may use for the new loan. (2) For a graduate or professional student to obtain a PLUS loan, the student applies for a PLUS Loan by completing a Free Application for Federal Student Aid (FAFSA) and contacting the school, lender or guarantor. The school determines and certifies the student's eligibility for the PLUS loan. After the school certifies the application, the application is submitted to a participating lender. If the lender decides to make the loan, the lender obtains a loan guarantee from a guaranty agency or the Secretary. Prior to loan disbursement, the student completes a PLUS MPN, unless the student has previously completed a PLUS MPN that the lender may use for the new loan. (d) Consolidation loan application. Generally, to obtain a Consolidation loan, a borrower completes an application and submits it to a lender participating in the Consolidation Loan Program. If the lender decides to make the loan, the lender obtains a loan guarantee from a guaranty agency or the Secretary. * * * * *
Amendment from August 09, 2006
34 CFR--PART 682
Amendment(s) published August 9, 2006, in 71 FR 45698
§ 682.102 Obtaining and repaying a loan.
