34 CFR 668.59 - Consequences of a change in an applicant's FAFSA information.

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There are 3 Updates appearing in the Federal Register for 34 CFR 668. View below or at eCFR (GPOAccess)
§ 668.59 Consequences of a change in an applicant's FAFSA information.
(a) For the subsidized student financial assistance programs, if an applicant's FAFSA information changes as a result of verification, the applicant or the institution must submit to the Secretary any changes to—
(1) A nondollar item; or
(2) A single dollar item of $25 or more.
(b) For the Federal Pell Grant Program, if an applicant's FAFSA information changes as a result of verification, an institution must—
(1) Recalculate the applicant's Federal Pell Grant on the basis of the EFC on the corrected valid SAR or valid ISIR; and
(2)
(i) Disburse any additional funds under that award only if the institution receives a corrected valid SAR or valid ISIR for the applicant and only to the extent that additional funds are payable based on the recalculation;
(ii) Comply with the procedures specified in § 668.61 for an interim disbursement if, as a result of verification, the Federal Pell Grant award is reduced; or—
(iii) Comply with the procedures specified in 34 CFR 690.79 for an overpayment that is not an interim disbursement if, as a result of verification, the Federal Pell Grant award is reduced.
(c) For the subsidized student financial assistance programs, excluding the Federal Pell Grant Program, if an applicant's FAFSA information changes as a result of verification, the institution must—
(1) Adjust the applicant's financial aid package on the basis of the EFC on the corrected valid SAR or valid ISIR; and
(2)
(i) Comply with the procedures specified in § 668.61 for an interim disbursement if, as a result of verification, the financial aid package must be reduced;
(ii) Comply with the procedures specified in 34 CFR 673.5(f) for a Federal Perkins loan or an FSEOG overpayment that is not the result of an interim disbursement if, as a result of verification, the financial aid package must be reduced; and
(iii) Comply with the procedures specified in 34 CFR 685.303(e) for Direct Subsidized Loan excess loan proceeds that are not the result of an interim disbursement if, as a result of verification, the financial aid package must be reduced.
Approved by the Office of Management and Budget under control number 1845-0041)
(Authority: 20 U.S.C. 1094)

Title 34 published on 2014-07-01

The following are only the Rules published in the Federal Register after the published date of Title 34.

For a complete list of all Rules, Proposed Rules, and Notices view the Rulemaking tab.

  • 2014-12-04; vol. 79 # 233 - Thursday, December 4, 2014
    1. 79 FR 71957 - Program Integrity: Gainful Employment; Correction
      GPO FDSys XML | Text
      DEPARTMENT OF EDUCATION, 34 CFR Parts 600 and 668
      Final regulations; correction.
      Effective July 1, 2015.

Title 34 published on 2014-07-01

The following are ALL rules, proposed rules, and notices (chronologically) published in the Federal Register relating to 34 CFR 668 after this date.

  • 2014-12-04; vol. 79 # 233 - Thursday, December 4, 2014
    1. 79 FR 71957 - Program Integrity: Gainful Employment; Correction
      GPO FDSys XML | Text
      DEPARTMENT OF EDUCATION, 34 CFR Parts 600 and 668
      Final regulations; correction.
      Effective July 1, 2015.