---
kind: "section"
citation: "34 C.F.R. § 682.610"
title: "34"
number: "682.610"
heading: "Administrative and fiscal requirements for schools that participated in the FFEL Program."
url: "https://uscodex.org/cfr/34/682.610"
---

# §682.610. Administrative and fiscal requirements for schools that participated in the FFEL Program.

- (a) **General.** Each school shall—
  - (1) Establish and maintain proper administrative and fiscal procedures and all necessary records as set forth in the regulations in this part and in [34 CFR part 668](/cfr/34/part668.md);
  - (2) Follow the record retention and examination provisions in this part and in [34 CFR 668.24](/cfr/34/668.24.md); and
  - (3) **Submit all reports required by this part and 34 CFR part 668 to the Secretary.**
- (b) **Loan record requirements.** In addition to records required by [34 CFR part 668](/cfr/34/part668.md), for each Stafford, SLS, or PLUS loan received by or on behalf of its students, a school must maintain—
  - (1) A copy of the loan certification or data electronically submitted to the lender, that includes the amount of the loan and the period of enrollment for which the loan was intended;
  - (2) The cost of attendance, estimated financial assistance, and estimated family contribution used to calculate the loan amount;
  - (3) For loans delivered to the school by check, the date the school endorsed each loan check, if required;
  - (4) The date or dates of delivery of the loan proceeds by the school to the student or to the parent borrower;
  - (5) For loans delivered by electronic funds transfer or master check, a copy of the borrower's required written authorization, if it was not provided in the loan application or MPN, to deliver the initial and subsequent disbursements of each FFEL Program loan; and
  - (6) Documentation of any MPN confirmation process or processes the school may have used.
- (c) **Enrollment reporting process.**
  - (1) Upon receipt of an enrollment report from the Secretary, a school must update all information included in the report and return the report to the Secretary—
    - (i) In the manner and format prescribed by the Secretary; and
    - (ii) **Within the timeframe specified by the Secretary.**
  - (2) Unless it expects to submit its next updated enrollment report to the Secretary within the next 60 days, a school must notify the Secretary within 30 days after the date that the school discovers that—
    - (i) A loan under title IV of the Act was made to or on behalf of a student who was enrolled or accepted for enrollment at the school, and the student has ceased to be enrolled on at least a half-time basis or failed to enroll on at least a half-time basis for the period for which the loan was intended; or
    - (ii) A student who is enrolled at the school and who received a loan under title IV of the Act has changed his or her permanent address.

## Notes

### Amendments

[57 FR 60323, Dec. 18, 1992, as amended at 58 FR 9119, Feb. 19, 1993; 61 FR 60493, Nov. 27, 1996; 64 FR 58965, Nov. 1, 1999; 66 FR 34764, June 29, 2001; 78 FR 65822, Nov. 1, 2013]

### Authority

Authority: 20 U.S.C. 1071—1087-2, 1078-6(a)(5).

### Source

Source: 57 FR 60323, Dec. 18, 1992, unless otherwise noted.

### Amendments

[57 FR 60323, Dec. 18, 1992, as amended at 58 FR 9119, Feb. 19, 1993; 61 FR 60493, Nov. 27, 1996; 64 FR 58965, Nov. 1, 1999; 66 FR 34764, June 29, 2001; 78 FR 65822, Nov. 1, 2013]