34 C.F.R. § 674.1

Purpose and identification of common provisions

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(a) The Federal Perkins Loan Program provides low-interest loans to financially needy students attending institutions of higher education to help them pay their educational costs.

(b)(1) The Federal Perkins Loan Program, authorized by title IV-E of the Higher Education Act of 1965, as amended, and previously named the National Direct Student Loan (NDSL) Program, is a continuation of the National Defense Loan Program authorized by title II of the National Defense Education Act of 1958. All rights, privileges, duties, functions, and obligations existing under title II before the enactment of title IV-E continue to exist.

(2) The Secretary considers any student loan fund established under title IV-E to include the assets of an institution's student loan fund established under title II.

*(c) Provisions in these regulations that are common to all campus-based programs are identified with an asterisk.

(d) Provisions in these regulations that refer to “loans” or “student loans” apply to all loans made under title IV-E of the HEA or title II of the National Defense Education Act.

(Authority: 20 U.S.C. 1087aa-1087hh; Pub. L. 92-318, sec. 137(d)(1)) [52 FR 45747, Dec. 1, 1987, as amended at 57 FR 32344, July 21, 1992; 59 FR 61415, Nov. 29, 1994; 64 FR 18002, Apr. 6, 2000]

Notes of Decisions

Cited in 3 cases, 1983–1997 · leading case: State of NY v. Lutheran Ctr. for the Aging, Inc., 957 F. Supp. 393 (E.D.N.Y 1997).

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State of NY v. Lutheran Ctr. for the Aging, Inc., 957 F. Supp. 393 (E.D.N.Y 1997). “See 34 C.F.R. §§ 674.1 -.59. In dismissing the case for lack of subject matter jurisdiction, the First Circuit concluded that despite the fact that the loans were derived in part from federal contributions, the suit to collect the loans did not give rise to a federal question.”

Whitehead v. Ohio, Univ. of Cincinnati (In Re Whitehead), 31 B.R. 381 (Bankr. S.D. Ohio 1983). “46 , Disbursement and repayment of loans) It was not until 1981, when the relevant sections were redesignated as 34 C.F.R. 674.1 et seq., that a sample note was appended to the regulations.”

The Inter-Am. Univ. of Puerto Rico, Inc. (Nat'l Direct Student Loan) v. Rafael Alicia Concepcion, 716 F.2d 933 (1st Cir. 1983). “34 C.F.R. § 674.1 -.59. In the other student loan programs established by the Higher Education Act, the government’s participation is that of a guarantor.”

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