[Code of Federal Regulations] [Title 34, Volume 3] [Revised as of July 1, 2002] From the U.S. Government Printing Office via GPO Access [CITE: 34CFR682.213] [Page 691] TITLE 34--EDUCATION DEPARTMENT OF EDUCATION PART 682--FEDERAL FAMILY EDUCATION LOAN (FFEL) PROGRAM--Table of Contents Subpart B--General Provisions Sec. 682.213 Prohibition against the use of the Rule of 78s. For purposes of the calculations required by this part, a lender may not use the Rule of 78s to calculate the outstanding principle balance of a loan, except for a loan made to a borrower who entered repayment before June 26, 1987 and who was informed in the promissory note that interest on the loan would be calculated using the Rule of 78s. For those loans, the Rule of 78s must be used for the life of the loan. (Authority: 20 U.S.C. 1077, 1078, 1078-1, 1078-2, 1078-3, 1082)