34 CFR 674.10 - Selection of students for loans.

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§ 674.10 Selection of students for loans.

(a)

(1) An institution shall make loans under this part reasonably available, to the extent of available funds, to all students eligible under § 674.9 but shall give priority to those students with exceptional financial need.

(2) The institution shall define exceptional financial need for the purpose of the priority described in paragraph (a)(1) of this section and shall develop procedures for implementing that priority.

(b) If an institution's allocation of Federal Capital Contribution is directly or indirectly based in part on the financial need demonstrated by students attending the institution as less-than-full-time or independent students, a reasonable portion of the dollar amount of loans made under this part must be offered to those students.

(c) The institution shall establish selection procedures and these procedures must be -

(1) In writing;

(2) Uniformly applied; and

(3) Maintained in the institution's files.

(Approved by the Office of Management and Budget under control number 1845-0019)
(Authority: 20 U.S.C. 1087cc and 1087dd)
[ 52 FR 45747, Dec. 1, 1987, as amended at 53 FR 49147, Dec. 6, 1988; 59 FR 61407, Nov. 30, 1994; 64 FR 58292, 58315, Oct. 28, 1999]

Title 34 published on 2015-12-04

The following are ALL rules, proposed rules, and notices (chronologically) published in the Federal Register relating to 34 CFR Part 674 after this date.

  • 2017-03-16; vol. 82 # 50 - Thursday, March 16, 2017
    1. 82 FR 13968 - Federal Perkins Loan Program
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      DEPARTMENT OF EDUCATION, Office of Postsecondary Education
      34 CFR Part 674