[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: 34CFR682.707]

[Page 807]
 
                           TITLE 34--EDUCATION
 
                         DEPARTMENT OF EDUCATION
 
PART 682--FEDERAL FAMILY EDUCATION LOAN (FFEL) PROGRAM--Table of Contents
 
  Subpart G--Limitation, Suspension, or Termination of Lender or Third-
 party Servicer Eligibility and Disqualification of Lenders and Schools
 
Sec. 682.707  Appeals in a limitation or termination proceeding.

    (a) If the lender, third-party servicer, or designated Departmental 
official appeals the initial decision of the presiding officer in 
accordance with Sec. 682.706(b)(10)--
    (1) An appeal is made to the Secretary by submitting to the 
Secretary and the opposing party within 15 days of the date of the 
appealing party's receipt of the presiding officer's decision, a brief 
or other written material explaining why the decision of the presiding 
officer should be overturned or modified; and
    (2) The opposing party shall submit its brief or other written 
material to the Secretary and the appealing party within 15 days of its 
receipt of the brief or written material of the appealing party.
    (b) The Secretary issues a final decision affirming, modifying, or 
reversing the initial decision, including a statement of the reasons for 
the Secretary's decision.
    (c) Any party submitting material to the Secretary shall provide a 
copy to each party that participates in the hearing.
    (d) If the presiding officer's initial decision would limit or 
terminate the lender's or servicer's eligibility, it does not take 
effect pending the appeal unless the Secretary determines that a stay of 
the date it becomes effective would seriously and adversely affect the 
FFEL programs or student or parent borrowers.

(Authority: 20 U.S.C. 1080, 1082, 1085, 1094)

[57 FR 60323, Dec. 18, 1992, as amended at 59 FR 22458, Apr. 29, 1994; 
66 FR 34765, June 29, 2001]