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34 C.F.R. § 34.30   Application of payments and accrual of interest.

Title 34 - Education

Title 34: Education
PART 34—ADMINISTRATIVE WAGE GARNISHMENT

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§ 34.30   Application of payments and accrual of interest.

We apply payments received through a garnishment in the following order—

(a) To costs incurred to collect the debt;

(b) To interest accrued on the debt at the rate established by—

(1) The terms of the obligation under which it arises; or

(2) Applicable law; and

(c) To outstanding principal of the debt.

(Authority: 31 U.S.C. 3720D)

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