Summary of Federal Laws

 

Financial Aid Programs                                                    

Compliance Partners

Director of Financial Aid

 

 

Federal Family Education Loan Program

20 USC 1071; 34 C.F.R. § 682.100 et seq.

This is the umbrella name for four loan programs in which money comes from banks rather than the federal government (Federal Stafford Loan, Federal Unsubsidized Stafford Loan, and Federal PLUS Loan Program).  For more on this program, see the Student Financial Aid Handbook, Chapter 4, Stafford Plus Loan Periods and Amounts.

 

 

72 Fed. Reg. 61959 (Nov. 1, 2007) Final Rule to Strengthen and improve the administration of the Federal Perkins Loan Program, Federal Family Education Loan Program, and William D. Ford Federal Direct Loan Program. These final regulations, effective July 1, 2008, address preferred lender lists, prohibited inducements, and permissible activities. For a complete summary of the ways in which the regulations differ from the proposed rule (summarized below) read Final Regulations on Loans Include Some Surprises from NASFAA.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Resources:

 

National Association of Financial Aid Administrators

Student Aid on the Web

NASFAA Statement of Ethical Principles

 

NASFAA Direct Loan Bulletins

 

       

 

 

 

 

 

 

links updated 3/11/09 rab

3/14/09 compliance partner added mlo
compliance box links updated 6/3/09 rab