[Code of Federal Regulations]
[Title 34, Volume 3]
[Revised as of July 1, 2003]
From the U.S. Government Printing Office via GPO Access
[CITE: 34CFR674.10]

[Page 581]
 
                           TITLE 34--EDUCATION
 
                         DEPARTMENT OF EDUCATION
 
PART 674--FEDERAL PERKINS LOAN PROGRAM--Table of Contents
 
                      Subpart A--General Provisions
 
Sec. 674.10  Selection of students for loans.

    (a)(1) An institution shall make loans under this part reasonably 
available, to the extent of available funds, to all students eligible 
under Sec. 674.9 but shall give priority to those students with 
exceptional financial need.
    (2) The institution shall define exceptional financial need for the 
purpose of the priority described in paragraph (a)(1) of this section 
and shall develop procedures for implementing that priority.
    (b) If an institution's allocation of Federal Capital Contribution 
is directly or indirectly based in part on the financial need 
demonstrated by students attending the institution as less-than-full-
time or independent students, a reasonable portion of the dollar amount 
of loans made under this part must be offered to those students.
    (c) The institution shall establish selection procedures and these 
procedures must be--
    (1) In writing;
    (2) Uniformly applied; and
    (3) Maintained in the institution's files.

(Approved by the Office of Management and Budget under control number 
1845-0019)

(Authority: 20 U.S.C. 1087cc and 1087dd)

[52 FR 45747, Dec. 1, 1987, as amended at 53 FR 49147, Dec. 6, 1988; 59 
FR 61407, Nov. 30, 1994; 64 FR 58292, 58315, Oct. 28, 1999]