The preamble to the proposed rules included additional explanatory information that is useful in interpretation of the regulations. Current regulations require that institutions produce certain information and make it readily available to current and prospective students. All the information must be made available to current and prospective students upon request. The notice must include a statement of the report's availability, a description of the report, and an opportunity to request a copy. Prospective student is defined in Sec.
Prospective employee is defined in Sec.
The information that currently must be made available to current and prospective students includes a description of the financial assistance programs available, the application forms and procedures, eligibility requirements, criteria for selection, criteria for determining the amount of the award, satisfactory progress standards, disbursement methods, loan terms, and the conditions and terms for employment provided as part of a student's financial assistance package. The final regulations include conditions for deferral of federal loan repayments for volunteer service. This section includes new regulations for disclosures about refund policies, return of Title IV assistance, and requirements for officially withdrawing from the institution. This section is unchanged from current regulations, except for renumbering. This section provides the requirements for designating individuals to be available to assist enrolled or prospective students in obtaining the institutional or financial assistance information.