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Description: Tags: Ffelta
Description: Tags: Ffelta
Description: Tags: Ffelta
Committee I – Loans
Origin: FED UP #4
§682.200 Definitions.
(b) * * * * *
Lender. (1) The term "eligible lender" is defined in
definition.
April 4, 2002 Pre-decisional DRAFT for discussion on April 22-24, 2002 FFEL 1
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Page 2—FFEL – Eligible Lender
under this part" in section 435(d) of the Act means that the
time, hold FFEL Program loans that total more than one-half of
function.”
April 4, 2002 Pre-decisional DRAFT for discussion on April 22-24, 2002 FFEL 1
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Proposed Regulatory Language
Committee I – Loans
Quick Fix: No
Origin: ED
total amount the student may borrow for any academic year of
following:
$2,625 as the--
April 4, 2002 Pre-decisional DRAFT for discussion on April 22-24, 2002 FFEL 2
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Page 2——FFEL – Loan Limits
Number of semester, trimester, quarter, or clock hours enrolled
Number of semester, trimester, quarter, or clock hours in academic year
(iii) For a program of study that is less than a full
Number of semester, trimester, quarter, or clock hours enrolled
Number of semester, trimester, quarter, or clock hours in academic year
or
Number of weeks enrolled
Number of weeks in academic year
(2) In the case of a student who has successfully
program, the total amount the student may borrow for any
the--
Number of semester, trimester, quarter, or clock hours enrolled
Number of semester, trimester, quarter, or clock hours in academic year
(3) In the case of an undergraduate student who has
April 4, 2002 Pre-decisional DRAFT for discussion on April 22-24, 2002 FFEL 2
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Page 3——FFEL – Loan Limits
student may borrow for any academic year of study under the
the--
Number of semester, trimester, quarter, or clock hours enrolled
Number of semester, trimester, quarter, or clock hours in academic year
(4) In the case of a student who has an associate or
total amount the student may borrow for any academic year of
section.
total amount the student may borrow for any academic year of
April 4, 2002 Pre-decisional DRAFT for discussion on April 22-24, 2002 FFEL 2
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Page 4——FFEL – Loan Limits
the total amount the student may borrow for any academic year of
following:
total amount the student may borrow for any academic year of
(8) Except as provided in paragraph (a)(4) of this section,
an undergraduate student who is enrolled in a program that is one
academic year in length may not borrow an amount for any academic
year of study that exceeds the amounts in paragraph (a)(1) of
this section.
April 4, 2002 Pre-decisional DRAFT for discussion on April 22-24, 2002 FFEL 2
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Page 5——FFEL – Loan Limits
(9) Except as provided in paragraph (a)(4) of this section
(i) An undergraduate student who is enrolled in a program
that is two academic years in length and who has not successfully
completed the first year of the program may not borrow an amount
for any academic year of study that exceeds the amounts in
paragraph (a)(1) of this section.
(ii) An undergraduate student who is enrolled in a program
that is two academic years in length and who has successfully
completed the first year of the program may not borrow an amount
for any academic year of study in the remaining portion of the
program that exceeds the amounts in paragraph (a)(2) of this
section.
* * * * *
April 4, 2002 Pre-decisional DRAFT for discussion on April 22-24, 2002 FFEL 2
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Page 6——FFEL – Loan Limits
amounts allowed under paragraphs (b) and (c) of this section for
academic year.
$4,000 as the--
Number of semester, trimester, quarter, or clock hours enrolled
Number of semester, trimester, quarter, or clock hours in academic year
(iii) For a program of study that is less than a full
Number of semester, trimester, quarter, or clock hours enrolled
Number of semester, trimester, quarter, or clock hours in academic year
or
Number of weeks enrolled
Number of weeks in academic year
(2) In the case of a student who has completed the first
April 4, 2002 Pre-decisional DRAFT for discussion on April 22-24, 2002 FFEL 2
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Page 7——FFEL – Loan Limits
the--
Number of semester, trimester, quarter, or clock hours enrolled
Number of semester, trimester, quarter, or clock hours in academic year
(3) In the case of a student who has successfully
academic year.
the--
Number of semester, trimester, quarter, or clock hours enrolled
Number of semester, trimester, quarter, or clock hours in academic year
(4) In the case of a student who has an associate or
total amount the student may borrow for any academic year of
section.
April 4, 2002 Pre-decisional DRAFT for discussion on April 22-24, 2002 FFEL 2
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Page 8——FFEL – Loan Limits
$5,000.
(7) Except as provided in paragraph (d)(4) of this section,
an undergraduate student who is enrolled in a program that is one
academic year in length may not borrow an amount for any academic
year of study that exceeds the amounts in paragraph (d)(1) of
this section.
(8) Except as provided in paragraph (d)(4) of this section
April 4, 2002 Pre-decisional DRAFT for discussion on April 22-24, 2002 FFEL 2
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Page 9——FFEL – Loan Limits
(A) An undergraduate student who is enrolled in a program
that is two academic years in length and who has not successfully
completed the first year of the program may not borrow an amount
for any academic year of study that exceeds the amounts in
paragraph (d)(1) of this section.
(B) An undergraduate student who is enrolled in a program
that is two academic years in length and who has successfully
completed the first year of the program may not borrow an amount
for any academic year of study in the remaining portion of the
program that exceeds the amounts in paragraph (d)(2) of this
section.
* * * * *
one academic year in length may not borrow an amount for any
April 4, 2002 Pre-decisional DRAFT for discussion on April 22-24, 2002 FFEL 2
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Page 10——FFEL – Loan Limits
borrow an amount for any academic year of study that exceeds the
completed the first year of the program may not borrow an amount
section.
* * * * *
Loan Program.
* * * * *
one academic year in length may not borrow an amount for any
April 4, 2002 Pre-decisional DRAFT for discussion on April 22-24, 2002 FFEL 2
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Page 11——FFEL – Loan Limits
borrow an amount for any academic year of study that exceeds the
completed the first year of the program may not borrow an amount
section.
April 4, 2002 Pre-decisional DRAFT for discussion on April 22-24, 2002 FFEL 2
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Proposed Regulatory Language
Committee I – Loans
Quick Fix: No
* * * * *
* * * * *
use a new date it receives from the school, unless the lender
new date is within the same month and year as the most recent
April 4, 2002 Pre-decisional DRAFT for discussion on April 22-24, 2002 FFEL 3
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Page 2—FFEL - Anticipated Graduation Date
* * * * *
(3) * * * * *
use a new date it receives from the school, unless the lender
new date is within the same month and year as the most recent
April 4, 2002 Pre-decisional DRAFT for discussion on April 22-24, 2002 FFEL 3
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Proposed Regulatory Language
Committee I – Loans
(a) * * * * *
(8) * * * * *
minimum of 5 years.
to read as follows:
April 4, 2002 Pre-decisional DRAFT for discussion on April 22-24, 2002 FFEL 6
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(a) * * * * *
(8) * * * * *
may notify the lender at any time to extend the repayment period
to a minimum of 5 years.
April 4, 2002 Pre-decisional DRAFT for discussion on April 22-24, 2002 FFEL 6
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Proposed Regulatory Language
Committee I – Loans
Quick Fix: No
Change:
§682.211 Forbearance.
* * * * *
forborne.
April 4, 2002 Pre-decisional DRAFT for discussion on April 22-24, 2002 FFEL 8
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Page 2——FFEL – Forbearance Simplification
agree to the terms orally, the lender must notify the borrower
the agreement to repay the debt after default but prior to claim
or endorser of —
accrue on the loan for the full term of the forbearance; and
April 4, 2002 Pre-decisional DRAFT for discussion on April 22-24, 2002 FFEL 8
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Page 3——FFEL – Forbearance Simplification
* * * * *
* * * * *
be agreed to in writing—
(34) Documentation.
* * * * *
§682.211 Forbearance.
* * * * *
April 4, 2002 Pre-decisional DRAFT for discussion on April 22-24, 2002 FFEL 8
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Page 4——FFEL – Forbearance Simplification
* * * * *
April 4, 2002 Pre-decisional DRAFT for discussion on April 22-24, 2002 FFEL 8
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Page 5——FFEL – Forbearance Simplification
accrue on the loan for the full term of the forbearance; and
* * * * *
* * * * *
be agreed to in writing—
* * * * *
April 4, 2002 Pre-decisional DRAFT for discussion on April 22-24, 2002 FFEL 8
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Proposed Regulatory Language
Committee I – Loans
Quick Fix: No
§682.211 Forbearance.
* * * * *
due –
(1) * * * * *
mobilization.
April 4, 2002 Pre-decisional DRAFT for discussion on April 22-24, 2002 FFEL 9
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Page 2——FFEL – Administrative Forbearances
§682.211 Forbearance.
* * * * *
(f) * * * * *
military mobilization.
April 4, 2002 Pre-decisional DRAFT for discussion on April 22-24, 2002 FFEL 9
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Proposed Regulatory Language
Committee I – Loans
Quick Fix: No
April 4, 2002 Pre-decisional DRAFT for discussion on April 22-24, 2002 FFEL 10
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Page 2——FFEL – Disability Discharge on Consolidation Loans
couple, and only one of the borrowers dies, becomes totally and
loan.
April 4, 2002 Pre-decisional DRAFT for discussion on April 22-24, 2002 FFEL 10
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Page 3——FFEL – Disability Discharge on Consolidation Loans
any other case that a claim was paid under this section with
(b) Death.
* * * * *
April 4, 2002 Pre-decisional DRAFT for discussion on April 22-24, 2002 FFEL 10
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Page 4——FFEL – Disability Discharge on Consolidation Loans
couple,”.
(a) ***
married couple –
April 4, 2002 Pre-decisional DRAFT for discussion on April 22-24, 2002 FFEL 10
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Page 5——FFEL – Disability Discharge on Consolidation Loans
* * * * *
(b) ***
* * * * *
April 4, 2002 Pre-decisional DRAFT for discussion on April 22-24, 2002 FFEL 10
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Proposed Regulatory Language
Committee I – Loans
* * * * *
(f) Bankruptcy-
* * * * *
April 4, 2002 Pre-decisional DRAFT for discussion on April 22-24, 2002 FFEL 11
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Page 2——FFEL – Sovereign Immunity – Proofs of Claim
has no assets; or
from the court stating that a chapter 7 no-asset case has been
follows:
* * * * *
(f) Bankruptcy-
April 4, 2002 Pre-decisional DRAFT for discussion on April 22-24, 2002 FFEL 11
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Page 3——FFEL – Sovereign Immunity – Proofs of Claim
* * * * *
to an asset case.
April 4, 2002 Pre-decisional DRAFT for discussion on April 22-24, 2002 FFEL 11
MS Word
Proposed Regulatory Language
Committee I – Loans
Quick Fix: No
* * * * *
claim promptly and shall pay the lender on an approved claim the
of this section,--
(A) nNot later than 45 days after the claim was filed by
April 4, 2002 Pre-decisional DRAFT for discussion on April 22-24, 2002 FFEL 13
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Page 2——FFEL – Time frame for GA review and payment of disability claims
(B) Not later than 90 days after the claim was filed by
claims.
* * * * *
* * * * *
certifications claims.
* * * * *
April 4, 2002 Pre-decisional DRAFT for discussion on April 22-24, 2002 FFEL 13
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Page 3——FFEL – Time frame for GA review and payment of disability claims
claim promptly and shall pay the lender on an approved claim the
of this section--
(A) Not later than 45 days after the claim was filed by
(B) Not later than 90 days after the claim was filed by
claims.
* * * * *
(3) * * * * *
certification claims.
April 4, 2002 Pre-decisional DRAFT for discussion on April 22-24, 2002 FFEL 13
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