[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: 34CFR685.210]

[Page 851-852]
 
                           TITLE 34--EDUCATION
 
                         DEPARTMENT OF EDUCATION
 
PART 685--WILLIAM D. FORD FEDERAL DIRECT LOAN PROGRAM--Table of Contents
 
                     Subpart B--Borrower Provisions
 
Sec. 685.210  Choice of repayment plan.

    (a) Initial selection of a repayment plan. (1) Before a Direct Loan 
enters into repayment, the Secretary provides the borrower a description 
of the available repayment plans and requests the borrower to select 
one. A borrower may select a repayment plan before the loan enters 
repayment by notifying the Secretary of the borrower's selection in 
writing.
    (2) If a borrower does not select a repayment plan, the Secretary 
designates the standard repayment plan described in Sec. 685.208(b) for 
the borrower.
    (b) Changing repayment plans. (1) A borrower may change repayment 
plans at any time after the loan has entered repayment by notifying the 
Secretary. However, a borrower who is repaying a defaulted loan under 
the income contingent repayment plan under Sec. 685.211(c)(3)(ii) may 
not change to another repayment plan unless--
    (i) The borrower was required to and did make a payment under the 
income contingent repayment plan in each of the prior three (3) months; 
or
    (ii) The borrower was not required to make payments but made three 
reasonable and affordable payments in each of the prior three months; 
and
    (iii) The borrower makes and the Secretary approves a request to 
change plans.
    (2)(i) A borrower may not change to a repayment plan that has a 
maximum repayment period of less than the number of years the loan has 
already been in repayment, except that a borrower

[[Page 852]]

may change to the income contingent repayment plan at any time.
    (ii) If a borrower changes plans, the repayment period is the period 
provided under the borrower's new repayment plan, calculated from the 
date the loan initially entered repayment. However, if a borrower 
changes to the income contingent repayment plan, the repayment period is 
calculated as described in Sec. 685.209(c)(4).

(Authority: 20 U.S.C. 1087a et seq.)

[59 FR 61690, Dec. 1, 1994, as amended at 65 FR 65629, Nov. 1, 2000]