---
kind: "section"
citation: "34 C.F.R. § 685.307"
title: "34"
number: "685.307"
heading: "Withdrawal procedure for schools participating in the Direct Loan Program."
url: "https://uscodex.org/cfr/34/685.307"
---

# §685.307. Withdrawal procedure for schools participating in the Direct Loan Program.

- (a) A school participating in the Direct Loan Program may withdraw from the program by providing written notice to the Secretary.
- (b) A participating school that intends to withdraw from the Direct Loan Program must give at least 60 days notice to the Secretary.
- (c) Unless the Secretary approves an earlier date, the withdrawal is effective on the later of—
  - (1) 60 days after the school notifies the Secretary; or
  - (2) **The date designated by the school.**

## Notes

### 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]