34 CFR 674.40 - Treatment of loan repayments where cancellation, loan repayments, and minimum monthly repayments apply.

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§ 674.40 Treatment of loan repayments where cancellation, loan repayments, and minimum monthly repayments apply.

(a) An institution may not exercise the minimum monthly repayment provisions on a note when the borrower has received a partial cancellation for the period covered by a postponement.

(b) If a borrower has received Defense, NDSL, and Perkins loans and only one can be cancelled, the amount due on the uncancelled loan is the amount established in § 674.31(b) (2), loan repayment terms; § 674.33(b), minimum repayment rates; or § 674.33(c), extension of repayment period.

(Authority: 20 U.S.C. 425 and 1087dd, 1087ee)
[ 52 FR 45754, Dec. 1, 1987. Redesignated at 59 FR 61410, Nov. 30, 1994]

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