Effect on participation.

34 C.F.R. § 682.702
in effectEffective: 2024-07-01
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(a) Limitation, suspension, or termination proceedings by the Secretary do not affect a lender's responsibilities or rights to benefits and claim payments that are based on the lender's prior participation in the program, except as provided in § 682.709. (b) A limitation imposes on a lender— (1) A limit on the number or total amount of loans that a lender may purchase or hold under the FFEL Program; or (2) Other reasonable requirements or conditions, including those described in § 682.709. (c) A limitation imposes on a third-party servicer— (1) A limit on the number of loans or accounts or total amount of loans that the servicer may service; (2) A limit on the number of loans or accounts or total amount of loans that the servicer is administering under its contract with a lender or guaranty agency; or (3) Other reasonable requirements or conditions, including those described in § 682.709.

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