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Proposed Rules: General Provisions Including Change of Ownership and Cash Management

Federal Register, August 10, 2000, Page 49134

Agency

Department of Education

Action

Notice of proposed rulemaking.

Summary

The Secretary proposes to amend the Institutional Eligibility, the Student Assistance General Provisions, the Federal Work-Study, the William D. Ford Federal Direct Loan, the Federal Family Education Loan, and the Federal Pell Grant regulations. These proposed regulations implement changes negotiated with the financial aid, higher education, and other related community members in the negotiated rulemaking process mandated by Congress under section 492 of the Higher Education Act of 1965, as amended, (HEA). These changes would streamline the application, reapplication and certification processes for institutions that wish to participate in the title IV, HEA programs; reduce burden, under specific circumstances, for the reporting of additional locations; clarify the reporting responsibilities for institutions that experience a change in ownership that results in a change of control; expand the possibilities for institutions to create written agreements with certain other entities to have part or all of their eligible programs provided by those entities; revise the process for determining a transfer student's financial aid history; recognize electronic certification and record retention options for FWS program administration; add flexibility to the training requirements for institutional certification; change loan proceeds disbursement rules for programs using non-standard terms; clarify notification requirements when title IV loan proceeds are credited to a student's institutional account; and add flexibility to lender disbursement requirements and eligibility determinations for students receiving loan proceeds.

Dates

We must receive your comments on or before September 25, 2000.

Addresses

Address all comments about these proposed regulations to: Mark Washington, U.S. Department of Education, P.O. Box 23272, Washington, DC 20026-3272. If you prefer to send your comments through the Internet please use the following address: GPNPRM@ed.gov

Further Information

Mark Washington, U.S. Department of Education, 400 Maryland Avenue, SW, Room 3045, ROB-3, Washington, DC 20202-5447. Telephone: (202)-260-9321.

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