---
kind: "section"
citation: "34 C.F.R. § 682.702"
title: "34"
number: "682.702"
heading: "Effect on participation."
url: "https://uscodex.org/cfr/34/682.702"
---

# §682.702. Effect on participation.

- (a) Limitation, suspension, or termination proceedings by the Secretary do not affect a lender's responsibilities or rights to benefits and claim payments that are based on the lender's prior participation in the program, except as provided in [§ 682.709](/cfr/34/682.709.md).
- (b) **A limitation imposes on a lender—**
  - (1) A limit on the number or total amount of loans that a lender may purchase or hold under the FFEL Program; or
  - (2) Other reasonable requirements or conditions, including those described in [§ 682.709](/cfr/34/682.709.md).
- (c) **A limitation imposes on a third-party servicer—**
  - (1) A limit on the number of loans or accounts or total amount of loans that the servicer may service;
  - (2) A limit on the number of loans or accounts or total amount of loans that the servicer is administering under its contract with a lender or guaranty agency; or
  - (3) Other reasonable requirements or conditions, including those described in [§ 682.709](/cfr/34/682.709.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]