§685.307. Withdrawal procedure for schools participating in the Direct Loan Program.
34 C.F.R. § 685.307
A school participating in the Direct Loan Program may withdraw from the program by providing written notice to the Secretary.
A participating school that intends to withdraw from the Direct Loan Program must give at least 60 days notice to the Secretary.
Unless the Secretary approves an earlier date, the withdrawal is effective on the later of—
60 days after the school notifies the Secretary; or
The date designated by the school.
Notes, amendments, and revision history
Amendments
[59 FR 61690, Dec. 1, 1994, as amended at 78 FR 65841, Nov. 1, 2013]
Authority
Authority: 20 U.S.C. 1087a—1087j. Subpart A also issued under U.S.C. 1087e(a). Subpart B also issued under U.S.C 1078, 1078-3, 1087(e), 1087e(a)(2), 1087e(a), 1087e(a)(3), 1087e(b), 1087e(d), 1087e(d)(1), 1087e(f), 1087e(g), 1087(m)(1)(A), 1091(a), 1092(d)(1), 1098e(a)(2), 1098e(a)(3), 1098h(a)(2). Subpart C also issued under U.S.C 1087a.
Source
Source: 59 FR 61690, Dec. 1, 1994, unless otherwise noted.
Amendments
[59 FR 61690, Dec. 1, 1994, as amended at 78 FR 65841, Nov. 1, 2013]