Title 34

PART 674

Part 674 - Federal Perkins Loan Program

PART 674 - FEDERAL PERKINS LOAN PROGRAM Note:

An asterisk (*) indicates provisions that are common to parts 674, 675, and 676. The use of asterisks will assure participating institutions that a provision of one regulation is identical to the corresponding provisions in the other two.

Authority:20 U.S.C. 1070g, 1087aa-1087hh; Pub. L. 111-256, 124 Stat. 2643; unless otherwise noted. Editorial Note:Nomenclature changes to part 674 appear at 65 FR 18002, 18003, Apr. 6, 2000.

34:3.1.3.1.33.1SUBPART A
Subpart A - General Provisions
34:3.1.3.1.33.1.17.1SECTION 674.1
   674.1 Purpose and identification of common provisions.
34:3.1.3.1.33.1.17.2SECTION 674.2
   674.2 Definitions.
34:3.1.3.1.33.1.17.3SECTION 674.3-674.4
   674.3-674.4 [Reserved]
34:3.1.3.1.33.1.17.4SECTION 674.5
   674.5 Federal Perkins Loan program cohort default rate and penalties.
34:3.1.3.1.33.1.17.5SECTION 674.6-674.7
   674.6-674.7 [Reserved]
34:3.1.3.1.33.1.17.6SECTION 674.8
   674.8 Program participation agreement.
34:3.1.3.1.33.1.17.7SECTION 674.9
   674.9 Student eligibility.
34:3.1.3.1.33.1.17.8SECTION 674.10
   674.10 Selection of students for loans.
34:3.1.3.1.33.1.17.9SECTION 674.11
   674.11 [Reserved]
34:3.1.3.1.33.1.17.10SECTION 674.12
   674.12 Loan maximums.
34:3.1.3.1.33.1.17.11SECTION 674.13
   674.13 Reimbursement to the Fund.
34:3.1.3.1.33.1.17.12SECTION 674.14-674.15
   674.14-674.15 [Reserved]
34:3.1.3.1.33.1.17.13SECTION 674.16
   674.16 Making and disbursing loans.
34:3.1.3.1.33.1.17.14SECTION 674.17
   674.17 Federal interest in allocated funds - transfer of Fund.
34:3.1.3.1.33.1.17.15SECTION 674.18
   674.18 Use of funds.
34:3.1.3.1.33.1.17.16SECTION 674.19
   674.19 Fiscal procedures and records.
34:3.1.3.1.33.1.17.17SECTION 674.20
   674.20 Compliance with equal credit opportunity requirements.
34:3.1.3.1.33.2SUBPART B
Subpart B - Terms of Loans
34:3.1.3.1.33.2.17.1SECTION 674.31
   674.31 Promissory note.
34:3.1.3.1.33.2.17.2SECTION 674.32
   674.32 Special terms: loans to less than half-time student borrowers.
34:3.1.3.1.33.2.17.3SECTION 674.33
   674.33 Repayment.
34:3.1.3.1.33.2.17.4SECTION 674.34
   674.34 Deferment of repayment - Federal Perkins loans, NDSLs and Defense loans.
34:3.1.3.1.33.2.17.5SECTION 674.35
   674.35 Deferment of repayment - Federal Perkins loans made before July 1, 1993.
34:3.1.3.1.33.2.17.6SECTION 674.36
   674.36 Deferment of repayment - NDSLs made on or after October 1, 1980, but before July 1, 1993.
34:3.1.3.1.33.2.17.7SECTION 674.37
   674.37 Deferment of repayment - NDSLs made before October 1, 1980 and Defense loans.
34:3.1.3.1.33.2.17.8SECTION 674.38
   674.38 Deferment procedures.
34:3.1.3.1.33.2.17.9SECTION 674.39
   674.39 Loan rehabilitation.
34:3.1.3.1.33.2.17.10SECTION 674.40
   674.40 Treatment of loan repayments where cancellation, loan repayments, and minimum monthly repayments apply.
34:3.1.3.1.33.3SUBPART C
Subpart C - Due Diligence
34:3.1.3.1.33.3.17.1SECTION 674.41
   674.41 Due diligence - general requirements.
34:3.1.3.1.33.3.17.2SECTION 674.42
   674.42 Contact with the borrower.
34:3.1.3.1.33.3.17.3SECTION 674.43
   674.43 Billing procedures.
34:3.1.3.1.33.3.17.4SECTION 674.44
   674.44 Address searches.
34:3.1.3.1.33.3.17.5SECTION 674.45
   674.45 Collection procedures.
34:3.1.3.1.33.3.17.6SECTION 674.46
   674.46 Litigation procedures.
34:3.1.3.1.33.3.17.7SECTION 674.47
   674.47 Costs chargeable to the Fund.
34:3.1.3.1.33.3.17.8SECTION 674.48
   674.48 Use of contractors to perform billing and collection or other program activities.
34:3.1.3.1.33.3.17.9SECTION 674.49
   674.49 Bankruptcy of borrower.
34:3.1.3.1.33.3.17.10SECTION 674.50
   674.50 Assignment of defaulted loans to the United States.
34:3.1.3.1.33.4SUBPART D
Subpart D - Loan Cancellation
34:3.1.3.1.33.4.17.1SECTION 674.51
   674.51 Special definitions.
34:3.1.3.1.33.4.17.2SECTION 674.52
   674.52 Cancellation procedures.
34:3.1.3.1.33.4.17.3SECTION 674.53
   674.53 Teacher cancellation - Federal Perkins, NDSL and Defense loans.
34:3.1.3.1.33.4.17.4SECTION 674.54
   674.54 [Reserved]
34:3.1.3.1.33.4.17.5SECTION 674.55
   674.55 Teacher cancellation - Defense loans.
34:3.1.3.1.33.4.17.6SECTION 674.56
   674.56 Employment cancellation - Federal Perkins, NDSL and Defense loans.
34:3.1.3.1.33.4.17.7SECTION 674.57
   674.57 Cancellation for law enforcement or corrections officer service - Federal Perkins, NDSL, and Defense loans.
34:3.1.3.1.33.4.17.8SECTION 674.58
   674.58 Cancellation for service in an early childhood education program.
34:3.1.3.1.33.4.17.9SECTION 674.59
   674.59 Cancellation for military service.
34:3.1.3.1.33.4.17.10SECTION 674.60
   674.60 Cancellation for volunteer service - Perkins loans, NDSLs and Defense loans.
34:3.1.3.1.33.4.17.11SECTION 674.61
   674.61 Discharge for death or disability.
34:3.1.3.1.33.4.17.12SECTION 674.62
   674.62 No cancellation for prior service - no repayment refunded.
34:3.1.3.1.33.4.17.13SECTION 674.63
   674.63 Reimbursement to institutions for loan cancellation.
34:3.1.3.1.33.4.17.14SECTION 674.64
   674.64 Discharge of student loan indebtedness for survivors of victims of the September 11, 2001, attacks.
34:3.1.3.1.33.4.17.15.10APPENDIX
   Appendixes A-D to Part 674 [Reserved]
34:3.1.3.1.33.4.17.15.11APPENDIX Appendix E
   Appendix E to Part 674 - Examples for Computing Maximum Penalty Charges (6 Months Unpaid Overdue Payments) on Direct Loans Made for Periods of Enrollment Before January 1, 1986