682.702—Effect on participation.
(a)
Limitation, suspension, or termination proceedings by the Secretary do not affect a lender's responsibilities or rights to benefits and claim payments that are based on the lender's prior participation in the program, except as provided in paragraph (d) of this section and in § 682.709.
(1)
A limit on the number or total amount of loans that a lender may make, purchase, or hold under the FFEL programs;
(2)
A limit on the number or total amount of loans a lender may make to, or on behalf of, students at a particular school under the FFEL programs; or
(1)
A limit on the number of loans or accounts or total amount of loans that the servicer may service;
(2)
A limit on the number of loans or accounts or total amount of loans that the servicer is administering under its contract with a lender or guaranty agency; or
(d)
After the date the termination of a lender's eligibility becomes effective, the Secretary does not guarantee new loans made by that lender or pay interest benefits, special allowance, or reinsurance on new loans guaranteed by a guaranty agency after that date. The Secretary may also prohibit the lender from making further disbursements on a loan for which a guarantee commitment has already been issued.