34 C.F.R. 34 CFR--PART 682
Title 34 - Education
Effective Date(s): September 8, 2006 61. Section 682.604 is amended by: A. In paragraph (c)(3) introductory text, adding the word “parent” immediately after the words “in the case of”. B. Revising paragraph (b)(1). C. In paragraph (c)(2)(i), removing the words “§682.207(b)(1)(v)(C)(1) and (D)(1)” and adding, in their place, the words “§682.207(b)(1)(v)(C)(1) and (D)”. D. In paragraphs (c)(5)(i) and (c)(10)(i)(B), adding the word “or” after the punctuation “;”. E. In paragraphs (c)(5)(ii) and (c)(10)(ii), removing the words “; or” and adding, in their place, the punctuation “.”. F. Removing paragraphs (c)(5)(iii) and (c)(10)(iii). G. In paragraph (h) introductory text, removing the words “, or in the case of a student attending a foreign school,”. The revision reads as follows: * * * * * (b) Releasing loan proceeds. (1)(i) Except as provided in §682.207(b)(1)(v)(C)(1) and (D), the proceeds of a Stafford or PLUS loan disbursed using electronic transfer of funds must be sent directly to the school by the lender. (ii) Upon notification by a lender under §682.207(b)(2)(iv) that it has disbursed a loan directly to a borrower as provided under §682.207(b)(1)(v)(C)(1) and (D), the institution must immediately notify the lender if the student is no longer eligible to receive the disbursement. * * * * *
Amendment from August 09, 2006
34 CFR--PART 682
Amendment(s) published August 9, 2006, in 71 FR 45709
§ 682.604 Processing the borrower's loan proceeds and counseling borrowers.
