[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: 34CFR685.307]



[Page 859]

 

                           TITLE 34--EDUCATION

 

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

 

PART 685_WILLIAM D. FORD FEDERAL DIRECT LOAN PROGRAM--Table of Contents

 

Subpart C_Requirements, Standards, and Payments for Direct Loan Program 

                                 Schools

 

Sec. 685.307  Withdrawal procedure for schools participating in the 

Direct Loan Program.



    (a) A school participating in the Direct Loan Program may withdraw 

from the program by providing written notice to the Secretary.

    (b) A participating school that intends to withdraw from the Direct 

Loan Program shall give at least 60 days notice to the Secretary.

    (c) Unless the Secretary approves an earlier date, the withdrawal is 

effective on the later of--

    (1) 60 days after the school notifies the Secretary; or

    (2) The date designated by the school.



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