The Secretary amends the Code of Federal Regulations (CFR) to remove unnecessary regulations. The regulations removed are 34 CFR parts 614 (College Facilities Loan Program), 617 (Financial Assistance for Construction, Reconstruction, or Renovation of Higher Education Facilities), 619 (Grants for Construction, Reconstruction, and Renovation of Graduate Academic Facilities), and 641 (Faculty Development Fellowship Program). As a result of absence of funding and review in accordance with the President's regulatory reinvention initiative, the Secretary has determined that these regulations are no longer needed. However, the removal of these regulations does not alter the obligations of current recipients of federal funds. The regulations in effect when a grant or other agreement is made govern that grant or agreement, unless otherwise specifically provided.