---
kind: "section"
citation: "34 C.F.R. § 682.701"
title: "34"
number: "682.701"
heading: "Definitions of terms used in this subpart."
url: "https://uscodex.org/cfr/34/682.701"
---

# §682.701. Definitions of terms used in this subpart.


The following definitions apply to terms used in this subpart:

Designated Departmental Official: An official of the Department of Education to whom the Secretary has delegated the responsibility for initiating and pursuing disqualification or limitation, suspension, or termination proceedings.

Disqualification. The removal of a lender's eligibility for an indefinite period of time by the Secretary on review of limitation, suspension, or termination action taken against the lender by a guaranty agency.

Limitation. The continuation of a lender's or third-party servicer's eligibility subject to compliance with special conditions established by agreement with the Secretary or a guaranty agency, as applicable, or imposed as the result of a limitation or termination proceeding.

Suspension. The removal of a lender's eligibility, or a third-party servicer's eligibility to contract with a lender or guaranty agency, for a specified period of time or until the lender or servicer fulfills certain requirements.

Termination. (1) The removal of a lender's eligibility for an indefinite period of time—

- (i) By a guaranty agency; or
- (ii) By the Secretary, based on an action taken by the Secretary, or a designated Departmental official under [§ 682.706](/cfr/34/682.706.md); or
  - (2) The removal of a third-party servicer's eligibility to contract with a lender or guaranty agency for an indefinite period of time by the Secretary based on an action taken by the Secretary, or a designated Departmental official under [§ 682.706](/cfr/34/682.706.md).

## Notes

### Amendments

[57 FR 60323, Dec. 18, 1992, as amended at 59 FR 22457, Apr. 29, 1994; 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 59 FR 22457, Apr. 29, 1994; 78 FR 65822, Nov. 1, 2013]