Federal Family Education Loan (FFEL) Program; Guaranty Agencies Conflicts of Interest
Education · education-loans · Published 1996-11-27 · 61 FR 60426
Document
Document number
96-30360
Federal Register citation
61 FR 60426
CFR reference
34 CFR 682
Type
Rule
Action
Final regulations.
Category
education-loans
Agency
US Department of Education
Publication date
1996-11-27
Abstract
The Secretary amends the Federal Family Education Loan (FFEL) Program regulations. These final regulations are needed to implement changes to the Higher Education Act of 1965, as amended (HEA) giving the Secretary additional powers to assure the safety of Federal reserve funds and assets maintained by guaranty agencies insuring educational loans under the FFEL Program. The regulations establish conflicts of interest restrictions for guaranty agency staff and affiliated individuals and prohibit agencies from using Federal reserve funds for certain purposes.