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Citations: (R)685.401
AsOfDate: 12/31/98

Sec. 685.401 Selection criteria and process for academic years 1996-1997 and beyond.

(a) The Secretary selects schools to participate in the Direct Loan Program for an academic year beginning in 1996-1997 from
among those that apply to participate.

(b) In evaluating an application from an eligible school, the Secretary--

(1) To the extent possible, selects schools that are reasonably representative of the schools that are participating in the FFEL
Program in terms of anticipated loan volume, length of academic program, control of the school, highest degree offered, size of
student enrollment, geographic location, annual loan volume, and default experience; and

(2) In order to ensure an expeditious but orderly transition from the FFEL Program to the Direct Loan Program, selects schools
that the Secretary believes will make the transition as smooth as possible.

(Authority: 20 U.S.C. 1087a et seq.)

(Approved by the Office of Management and Budget under control number 1840-0672)

Note: OMB control number added June 28, 1995, effective July 1, 1995.