[Code of Federal Regulations]

[Title 34, Volume 1]

[Revised as of July 1, 2006]

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

[CITE: 34CFR34.30]



[Page 95]

 

                           TITLE 34--EDUCATION

 

PART 34_ADMINISTRATIVE WAGE GARNISHMENT--Table of Contents

 

Sec.  34.30  Application of payments and accrual of interest.



    We apply payments received through a garnishment in the following 

order--

    (a) To costs incurred to collect the debt;

    (b) To interest accrued on the debt at the rate established by--

    (1) The terms of the obligation under which it arises; or

    (2) Applicable law; and

    (c) To outstanding principal of the debt.



(Authority: 31 U.S.C. 3720D)