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Timestamp: 2020-06-01 02:00:25
Document Index: 243714874

Matched Legal Cases: ['art 177', 'art 177', 'art 177', '§ 177', '§ 77', '§ 177', 'ART 177', 'art 177', 'ART\n177', '§ 177', '§ 177', 'art 177', 'art 177', 'art 177', '§ 177', '§ 77', '§ 177', 'ART 177', 'art 177']

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[ 45 CFR Part 177 ]
In accordance with section 503 of the Education Amendments of 1972 (Pub. L. 92-318) and pursuant to the authority contained in Title IV, Part B of the Higher Education Act of 1965, as amended (20 U S.C. 1071 through 1087-2), the Commissioner of Education, with the approval of the Secretary of Health, Education, and Welfare, proposes to amend Part 177 of Title 45 of the Code of Federal Regulations to read as set forth below. Part 177 covers the Guar-anteed Student Loan Program (GSLP).
It is hoped that interested parties will read the ,>roposed revision of the pro-gram regulations with care and will com-municate their observations and com-ments regarding the proposed regula-tions to the Office of Guaranteed Student Loans. It should be noted that in the following discussion there are several places where it is indicated that the Commissioner is particularly interested in receiving reader comment on certain provisions. However, these specific in-vitations to comment should in no way obscure the Commissioner's interest in receiving comments on anything in the proposed comprehensive revision of the Guaranteed Student Loan Program regulations which a reader may wish to communicate, including program prob-lem areas which a reader may have identified and which he believes are left unaddressed in the proposed regulations.
This proposed revision of the regula-tions was prepared prior to enactment of the Education Amendments of 1976 (Pub. L. 94-482), which amend the statutory provisions governing the GSLP. An explanation of the impact of the new law upon the program and these proposed regulations is provided under the separate heading "Education Amend-ments of 1976" at the end of this pre-amble.
Title IV, Part B of the Higher Educa-tion Act of 1965, as amended, authorizes postsecondary educational assistance in the form of law interest loans to students through the Guaranteed Student Loan Program (GSLP). The program's bene-fits are available through loan guarantee programs of State and private nonprofit agencies, under direct State loan pro-grams and, in limited circumstances, un-der a program of Federal loan insurance. Many of the proposed amendments would implement changes in the program designed to minimize the risk of loss to the United States. Others are intended to conform the program regulations to changes in the authorizing legislation. Still other amendments consist of stylistic or minor wording changes to clarify the intent and requirements of
existing regulations in order to facili-tate understanding and compliance.
This preamble does not attempt to describe each change. Rather, only significant proposed changes are de-scribed. New regulations are described and identified as such.
The sequence of the regulations has been modified to facilitate reference by their presentation in logical order. A new table of contents follows which indicates the proposed regulations as well as (in parentheses) the corresponding regula-tions previously promulgated. Those sec-tions preceded by an asterisk are not included in this printing. (Those sections include all of current Subparts F and G except § 177.63 (e), which are being re-designated as Subparts G and H and are not being revised except for cross-ref-erences therein.) A eparate set of pro-posed regulations (§ 77.11(i) and § 177.-51(c)) dealing with i i escrow agent dis-bursement plan is fo ind in this issue of the FEDERAL REGISTER. When the proposed regulations are published in final form, the publication will include all GSLP regulations. This will provide the total regulations package in a convenient format.
PART 177—GUARANTEED STUDENT LOAN PROGRAM
SUBPART A PURPOSE AND SCOPE
177.1 Program purpose and statutory au-
177.2 Guaranteed agency programs.
177.3 Direct State loan programs.
177.4 Federal Insured Student Loan Pro-
gram (PISLP).
177.5 Applicability of subparts in Part 177.
SUBPART B GENERAL PROVISIONS
177.11 Definitions. (177.1)
177.12 Permissible charges to students.
177.13 Prohibited transactions. (177.6)
177.14 Affidavit. (177.10)
177.15 Forms.
177.16 Treatment by lenders of refund
amounts received from partici-pating institutions.
SUBPART C FEDERAL PAYMENTS
177.21 Interest benefits. (177.2,177.4)
177.22 Adjusted family income. (177.3)
177.23 Special allowance. (177.4)
177.24 Death and disability payments.
177.25 Administrative cost allowance.
SUBPART D GUARANTEE AGENRY PROGRAMS
177.31 Scope.
177.32 Agreements between guarantee
agencies and the Commissioner.
177.33 Payment of Federal interest bene-
fits. (177.12)
177.34 Payment of Federal advances for
reserve funds. (Subpart C)
177.35 Federal reinsurance. (Subpart D)
177.36 Records, reports and inspections.
SUBPART E DIRECT STATE LOAN PROGRAMS
177.41 Scope.
177.42 Requirements for payment of Fed-
eral Interest benefits and death and disability payments. (177.14)
177.43 Records, reports and Inspections.
SUBPART F FEDERAL INSURED STUDENT
177.51 Circumstances under which loans
may be federally insured. (177.41)
177.52 Agreements between eligible lenders
and the Commissioner. (177.42)
177.53 Conditions for insurabiltiy of indi-
vidual loans. (177.44)
177.54 Limitations on maximum loan
amounts. (177.43)
177.55 Issuance of Federal loan insurance.
(177.42)
177.56 Insurance premiums. (177.45)
177.57 Disbursement of loans. (177.46)
177.58 Repayment of loans. (177.46)
177.59 Due diligence. (177 48)
177.60 Forbearance. (177 51)
177.61 Transfers of insured loans. (177.411)
177.62 Cancellation of loan for death or
disability. (177.47)
177.63 Cessation of lender collection activ-
ity in certain cases.
177.64 Procedures for filing and payment
of claims. (177.48)
177.65 Determinations of amount of loss
on default claims. (177.52)
177.66 Records, reports and inspection'
177.67 Collection efforts by the Commis-
sioner after payment of default claims.
SUBPART G REOUIRE^ENTS AND STANDARDS F
177.71* Agreements between eligible insti-tutions and the Commission'"-. (177 61)
177.72* Procedures, records and reports (177.62)
177.73 Refunds, ems'?) (Only para«rnr>v,
(e) included herein.) 177.74* Provision of information to a pro-
snective student. (177 64) 177.75* Adi-nissinn'* criteria for a voc»+l<v'01
trade or career TM*ot?ram. M 77 177.76* Addition»! standards for evftluotmn-an ellfiWe institution. (177 6«)
SUBPART H PROCEDURES FOR THE LIMITATION.
SUSPENSION OR TERMINATION OF ELIGIBILITY FOR PROGRAMS ITNDER THIS PART
177.81* Puroose and scone. (177.71) 177.82* Definitions. (177.72) 177.83* Possible sanctions. (177.73) 177.84* Effect on prior participation.
(177.74)
177 85* Informal compliance procedure.
(177.75)
177 86* Susnension. (177.76)
177.87* Limitation and termination.
(177.77)
177.88* Denial or limitation of initial ap-plication or retustatemei t.
(177.78)
1. A new Subpart A is proposed which sets forth the purpose and scope of the Guaranteed Stud ;nt Loan Program and its various elements. This subpart also provides a brief overview of each segment of the program and indicates which por-tion of the regulations applies to each segment.
2. New § 177.1 describes the purpose of the GSLP and cites the basic statutory authority for the program.
3. New § 177.2 covers student loan in-surance programs administered by State and nonprofit private guarantee agen-cies and describes the Federal benefits available to guarantee agencies, lenders participating under guarantee agency programs, and students who receive loans from these lenders.
FEDERAL REGISTER, VOL. fcl, NO. 215—FRIDAY, NOVEMBER 5, 1976
Transcript 48862 PROPOSED RULES DEPARTMENT OF HEALTH, EDUCATION, AND WELFARE Office of Education [ 45 CFR Part 177 ] GUARANTEED STUDENT LOAN PROGRAM Notice of Proposed Rulemaking In accordance with section 503 of the Education Amendments of 1972 (Pub. L. 92-318) and pursuant to the authority contained in Title IV, Part B of the Higher Education Act of 1965, as amended (20 U S.C. 1071 through 1087-2), the Commissioner of Education, with the approval of the Secretary of Health, Education, and Welfare, proposes to amend Part 177 of Title 45 of the Code of Federal Regulations to read as set forth below. Part 177 covers the Guar-anteed Student Loan Program (GSLP). It is hoped that interested parties will read the ,>roposed revision of the pro-gram regulations with care and will com-municate their observations and com-ments regarding the proposed regula-tions to the Office of Guaranteed Student Loans. It should be noted that in the following discussion there are several places where it is indicated that the Commissioner is particularly interested in receiving reader comment on certain provisions. However, these specific in-vitations to comment should in no way obscure the Commissioner's interest in receiving comments on anything in the proposed comprehensive revision of the Guaranteed Student Loan Program regulations which a reader may wish to communicate, including program prob-lem areas which a reader may have identified and which he believes are left unaddressed in the proposed regulations. This proposed revision of the regula-tions was prepared prior to enactment of the Education Amendments of 1976 (Pub. L. 94-482), which amend the statutory provisions governing the GSLP. An explanation of the impact of the new law upon the program and these proposed regulations is provided under the separate heading "Education Amend-ments of 1976" at the end of this pre-amble. OVERVIEW Title IV, Part B of the Higher Educa-tion Act of 1965, as amended, authorizes postsecondary educational assistance in the form of law interest loans to students through the Guaranteed Student Loan Program (GSLP). The program's bene-fits are available through loan guarantee programs of State and private nonprofit agencies, under direct State loan pro-grams and, in limited circumstances, un-der a program of Federal loan insurance. Many of the proposed amendments would implement changes in the program designed to minimize the risk of loss to the United States. Others are intended to conform the program regulations to changes in the authorizing legislation. Still other amendments consist of stylistic or minor wording changes to clarify the intent and requirements of existing regulations in order to facili-tate understanding and compliance. This preamble does not attempt to describe each change. Rather, only significant proposed changes are de-scribed. New regulations are described and identified as such. The sequence of the regulations has been modified to facilitate reference by their presentation in logical order. A new table of contents follows which indicates the proposed regulations as well as (in parentheses) the corresponding regula-tions previously promulgated. Those sec-tions preceded by an asterisk are not included in this printing. (Those sections include all of current Subparts F and G except § 177.63 (e), which are being re-designated as Subparts G and H and are not being revised except for cross-ref-erences therein.) A eparate set of pro-posed regulations (§ 77.11(i) and § 177.-51(c)) dealing with i i escrow agent dis-bursement plan is fo ind in this issue of the FEDERAL REGISTER. When the proposed regulations are published in final form, the publication will include all GSLP regulations. This will provide the total regulations package in a convenient format. PART 177—GUARANTEED STUDENT LOAN PROGRAM SUBPART A PURPOSE AND SCOPE Sec. 177.1 Program purpose and statutory au- thority. 177.2 Guaranteed agency programs. 177.3 Direct State loan programs. 177.4 Federal Insured Student Loan Pro- gram (PISLP). 177.5 Applicability of subparts in Part 177. SUBPART B GENERAL PROVISIONS 177.11 Definitions. (177.1) 177.12 Permissible charges to students. (177.6) 177.13 Prohibited transactions. (177.6) 177.14 Affidavit. (177.10) 177.15 Forms. 177.16 Treatment by lenders of refund amounts received from partici-pating institutions. SUBPART C FEDERAL PAYMENTS 177.21 Interest benefits. (177.2,177.4) 177.22 Adjusted family income. (177.3) 177.23 Special allowance. (177.4) 177.24 Death and disability payments. (177.5) 177.25 Administrative cost allowance. (177.4) SUBPART D GUARANTEE AGENRY PROGRAMS 177.31 Scope. 177.32 Agreements between guarantee agencies and the Commissioner. 177.33 Payment of Federal interest bene- fits. (177.12) 177.34 Payment of Federal advances for reserve funds. (Subpart C) 177.35 Federal reinsurance. (Subpart D) 177.36 Records, reports and inspections. (177.8) SUBPART E DIRECT STATE LOAN PROGRAMS 177.41 Scope. 177.42 Requirements for payment of Fed- eral Interest benefits and death and disability payments. (177.14) 177.43 Records, reports and Inspections. (177.8) SUBPART F FEDERAL INSURED STUDENT LOAN PROGRAM Sec. 177.51 Circumstances under which loans may be federally insured. (177.41) 177.52 Agreements between eligible lenders and the Commissioner. (177.42) 177.53 Conditions for insurabiltiy of indi- vidual loans. (177.44) 177.54 Limitations on maximum loan amounts. (177.43) 177.55 Issuance of Federal loan insurance. (177.42) 177.56 Insurance premiums. (177.45) 177.57 Disbursement of loans. (177.46) 177.58 Repayment of loans. (177.46) 177.59 Due diligence. (177 48) 177.60 Forbearance. (177 51) 177.61 Transfers of insured loans. (177.411) 177.62 Cancellation of loan for death or disability. (177.47) 177.63 Cessation of lender collection activ- ity in certain cases. 177.64 Procedures for filing and payment of claims. (177.48) 177.65 Determinations of amount of loss on default claims. (177.52) 177.66 Records, reports and inspection' (177.8) 177.67 Collection efforts by the Commis- sioner after payment of default claims. SUBPART G REOUIRE^ENTS AND STANDARDS F PARTICIPATING EDUCATIONAL INSTITUTIONS 177.71* Agreements between eligible insti-tutions and the Commission'"-. (177 61) 177.72* Procedures, records and reports (177.62) 177.73 Refunds, ems'?) (Only para«rnr>v, (e) included herein.) 177.74* Provision of information to a pro- snective student. (177 64) 177.75* Adi-nissinn'* criteria for a voc»+l