[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: 34CFR682.514]

[Page 791]
 
                           TITLE 34--EDUCATION
 
                         DEPARTMENT OF EDUCATION
 
PART 682--FEDERAL FAMILY EDUCATION LOAN (FFEL) PROGRAM--Table of Contents
 
           Subpart E--Federal Guaranteed Student Loan Programs
 
Sec. 682.514  Procedures for receipt or retention of payments where the lender has violated program requirements for Federal GSL loans.

    (a) The Secretary may waive the right to recover or refuse to make 
an interest benefits, special allowance, or claim payment, or may permit 
a lender to cure certain defects in a specified manner if, in the 
Secretary's judgment, the best interests of the United States so 
require.
    (b) To receive payment on a default claim or to resume eligibility 
to receive interest benefits and special allowance on a loan as to which 
a lender has committed a violation of the requirements of this part 
regarding due diligence in collection or timely filing of claims, the 
lender shall meet the conditions described in appendix C to this part.

(Authority: 20 U.S.C. 1078-1, 1078-2, 1078-3, 1080, 1082)