[Code of Federal Regulations]
[Title 42, Volume 1]
[Revised as of October 1, 2002]
From the U.S. Government Printing Office via GPO Access
[CITE: 42CFR60.30]

[Page 323]
 
                         TITLE 42--PUBLIC HEALTH
 
    CHAPTER I--PUBLIC HEALTH SERVICE, DEPARTMENT OF HEALTH AND HUMAN 
                                SERVICES
 
PART 60--HEALTH EDUCATION ASSISTANCE LOAN PROGRAM--Table of Contents
 
                    Subpart D--The Lender and Holder
 
Sec. 60.30  Which organizations are eligible to apply to be HEAL lenders and holders?


    (a) A HEAL lender may make and hold loans under the HEAL program.
    (b) The following types of organizations are eligible to apply to 
the Secretary to be HEAL lenders:
    (1) A financial or credit institution (including a bank, savings and 
loan association, credit union, or insurance company) which is subject 
to examination and supervision in its capacity as a lender by an agency 
of the United States or of the State in which it has its principal place 
of business;
    (2) A pension fund approved by the Secretary;
    (3) An agency or instrumentality of a State;
    (4) A HEAL school; and
    (5) A private nonprofit entity, designated by the State, regulated 
by the State, and approved by the Secretary.
    (c) The following types of organizations are eligible to apply to 
the Secretary to be HEAL holders:
    (1) Public entities in the business of purchasing student loans;
    (2) The Student Loan Marketing Association (popularly known as 
``Sallie Mae''); and
    (3) Other eligible lenders.
    (d) HEAL holders must comply with any provisions in the regulations 
required of HEAL lenders including, but not limited to, provisions 
regarding applications, contracts, and due diligence.

[48 FR 38988, Aug. 26, 1983, as amended at 57 FR 28795, June 29, 1992]

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