No cancellation for prior service - no repayment refunded.

  1. Law
  2. CFR 34
  3. Education
  4. Regulations of the Offices of the Department of Education
  5. Office of Postsecondary Education, Department of Education
  6. Federal Perkins Loan Program
  7. Loan Cancellation
  8. No cancellation for prior service - no repayment refunded.

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§ 674.62 No cancellation for prior service - no repayment refunded.

(a) No portion of a loan may be cancelled for teaching. Head Start, volunteer or military service if the borrower's service is performed -

(1) During the same period that he or she received the loan; or

(2) Before the date the loan was disbursed to the borrower.

(b) The institution shall not refund a repayment made during a period for which the borrower qualified for a cancellation unless the borrower made the payment due to an institutional error.

(Authority: 20 U.S.C. 425 and 1067ee)

[52 FR 45758, Dec. 1, 1987. Redesignated at 59 FR 61413, Nov. 30, 1994]


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