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Citations: (R)682.101 AsOfDate: 12/31/99 Sec. 682.101 Participation in the FFEL programs. (a) Eligible banks, savings and loan associations, credit unions, pension funds, insurance companies, schools, and State and private nonprofit agencies may make loans. (b) Institutions of higher education, including most colleges, universities, graduate and professional schools, and many vocational, technical, and correspondence schools may participate as schools, enabling an eligible student or his or her parents to obtain a loan to pay for the student's cost of education. (c) Students who meet certain requirements, including enrollment at a participating school, may borrow under the Stafford Loan and, for periods of enrollment that began prior to July 1, 1994, the SLS program. Parents of eligible dependent undergraduate students may borrow under the PLUS Program. Borrowers with outstanding Stafford, SLS, FISL, Perkins, HPSL, HEAL, ALAS, PLUS, or Nursing Student Loan Program loans, or married couples each of whom have eligible loans under these programs may borrow under the Consolidation Loan Program. (Authority: 20 U.S.C. 1071 to 1087-2) Note: (c) amended November 29, 1994, effective July 1, 1995. (b) and (c) amended April 16, 1999, effective April 16, 1999. [[Click Here for Part 682 in PDF File Format]] |