[Code of Federal Regulations]

[Title 34, Volume 3]

[Revised as of July 1, 2005]

From the U.S. Government Printing Office via GPO Access

[CITE: 34CFR674.32]



[Page 573-574]

 

                           TITLE 34--EDUCATION

 

 CHAPTER VI--OFFICE OF POSTSECONDARY EDUCATION, DEPARTMENT OF EDUCATION

 

PART 674_FEDERAL PERKINS LOAN PROGRAM--Table of Contents

 

                        Subpart B_Terms of Loans

 

Sec. 674.32  Special terms: loans to less than half-time student 

borrowers.



    (a) The promissory note used with regard to loans to borrowers 

enrolled on a less than half-time basis must state that the repayment 

period begins--

    (1) On the date of the next scheduled installment payment on any 

outstanding loan to the borrower; or

    (2) If the borrower has no outstanding loan, at the earlier of--

    (i) Nine months from the date the loan was made, or

    (ii) The end of a nine-month period that includes the date the loan 

was



[[Page 574]]



made and began on the date the borrower ceased to be enrolled as at 

least a half-time regular student at an institution of higher education 

or comparable institution outside the U.S. approved for this purpose by 

the Secretary.

    (b) The note must otherwise conform to the provisions of Sec. 

674.31.



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



[52 FR 45754, Dec. 1, 1987, as amended at 57 FR 32345, July 21, 1992]