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.

• Authority: 20 U.S.C. 1070g, 1087aa-1087hh; Pub. L. 111-256, 124 Stat. 2643; unless otherwise noted.

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

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