34 C.F.R. § 682.504 Issuance of Federal loan guarantees.
Title 34 - Education
(a) A lender having a guarantee agreement shall submit an application to the Secretary for a Federal loan guarantee on each intended loan that the lender determines to be eligible for a guarantee. The application must be on a form prescribed by the Secretary. The Secretary notifies the lender whether the loan will be guaranteed and of the amount of the guarantee. No disbursement on a loan made prior to the Secretary's approval of that loan is covered by the guarantee. (b) The Secretary issues a guarantee on a Federal GSL loan in reliance on the implied representations of the lender that all requirements for the initial eligibility of the loan for guarantee coverage have been met. As described in §682.513, the continuance of the guarantee is conditioned upon compliance by all holders of the loan with the regulations in this part. (Authority: 20 U.S.C., 1078–1, 1078–2, 1078–3, 1079, 1082)
Title 34: Education
PART 682—FEDERAL FAMILY EDUCATION LOAN (FFEL) PROGRAM
Subpart E—Federal Guaranteed Student Loan Programs
§ 682.504 Issuance of Federal loan guarantees.
