[Federal Register Volume 59, Number 125 (Thursday, June 30, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-16002]
[[Page Unknown]]
[Federal Register: June 30, 1994]
-----------------------------------------------------------------------
DEPARTMENT OF EDUCATION
34 CFR Part 682
RIN 1840-AB83
Federal Family Education Loan Program
AGENCY: Department of Education.
ACTION: Notice of revised effective date; final regulations.
-----------------------------------------------------------------------
SUMMARY: In the Federal Register of April 29, 1994 (59 FR 22462), the
Secretary published final regulations for the Federal Family Education
Loan (FFEL) Program, 34 CFR part 682. The Secretary is delaying the
effective date of these regulations until July 1, 1994. By delaying the
effective date, the Secretary seeks to reduce confusion about the
effective date of these regulations by making the effective date
consistent with the effective date of other changes to the regulations
published by the Secretary at that same time.
EFFECTIVE DATE: These regulations take effect on July 1, 1994, with the
exception of the amendments to Secs. 682.202, 682.208, 682.402,
682.410, and 682.411. These amendments will become effective after the
information collection requirements contained in these sections have
been submitted by the Department of Education and approved by the
Office of Management and Budget under the Paperwork Reduction Act of
1980.
Subject to approval under the Paperwork Reduction Act, the
following applicability dates also apply to certain provisions of these
regulations:
Section 682.202(c), which reduces the amount of the origination fee
charged on an FFEL Program loan, applies to loans for which the first
disbursement is made on or after July 1, 1994, if the period of
enrollment for which the loan is intended either includes that date or
begins on or after that date.
Section 682.202(d), which reduces the amount of the insurance
premium charged on an FFEL Program loan, applies to loans for which the
first disbursement is made on or after July 1, 1994, if the period of
enrollment for which the loan is intended either includes that date or
begins on or after that date.
Section 682.410(b)(5)-(7), which requires guaranty agencies to warn
defaulters that they may be subject to administrative wage garnishment
and offset against Federal or State income tax refunds, applies to
claims paid by the agency on or after August 27, 1994.
Section 682.411, which requires lenders to warn delinquent
borrowers that they may be subject to administrative wage garnishment
and offset against Federal or State income tax refunds if they default
on their loans, applies to loans on which the first day of delinquency
is on or after August 27, 1994.
FOR FURTHER INFORMATION CONTACT: George Harris, Senior Program
Specialist, Loans Branch, Division of Policy Development, Policy,
Training, and Analysis Service, U.S. Department of Education, 400
Maryland Avenue, SW. (Room 4310, ROB-3), Washington, DC 20202-5449.
Telephone: (202) 708-8242. Individuals who use a telecommunications
device for the deaf (TDD) may call the Federal Information Relay
Service (FIRS) at 1-800-877-8339 between 8 a.m. and 8 p.m., Eastern
time, Monday through Friday.
SUPPLEMENTARY INFORMATION: The regulations which are affected by this
change in effective date amend the FFEL loan discharge regulations. The
effective date of these regulations has been delayed until July 1, 1994
so that all of the regulations implementing changes to the Higher
Education Act of 1965, as amended, (HEA), by the Higher Education
Amendments of 1992, and certain technical changes made by the Cash
Management Improvement Act Amendments of 1993 in the Federal Family
Education Loan (FFEL) Program which were published in the Federal
Register before May 1, 1994 will take effect on July 1, 1994. The
Secretary was informed that there was confusion among participants in
the FFEL Program about the effective date of the regulations because
other regulations published at the same time and implementing other
changes to the HEA were not effective until July 1, 1994. The Secretary
is delaying the effective date of these regulations to resolve the
confusion and to afford participants in the FFEL program additional
time to comply with the requirements of these regulations.
Waiver of Rulemaking
In accordance with section 431(b)(2)(A) of the General Education
Provisions Act (20 U.S.C. 1232 (b)(2)(A)), and the Administrative
Procedure Act (5 U.S.C. 553), it is the practice of the Secretary to
offer interested parties the opportunity to comment on proposed
regulations. However, because the Secretary is delaying the effective
date of these regulations for only a brief period to reduce confusion
and afford participants in the FFEL program additional time for
compliance, the Secretary finds, in accordance with 5 U.S.C. 553(b)(B),
that the solicitation of public comment on this change in the effective
date would be impracticable and contrary to the public interest.
(Catalog of Federal Domestic Assistance Number: 84.032 Federal
Family Education Loan Program)
Dated: June 27, 1994.
Richard W. Riley,
Secretary of Education.
[FR Doc. 94-16002 Filed 6-29-94; 8:45 am]
BILLING CODE 4000-01-P
