CFR > Title 34 - Education > SUBTITLE B—Regulations of the Offices of the Department of Education > CHAPTER VI—OFFICE OF POSTSECONDARY EDUCATION, DEPARTMENT OF EDUCATION (parts 600 to 694) > PART 685—WILLIAM D. FORD FEDERAL DIRECT LOAN PROGRAM > SUBPART C—Requirements, Standards, and Payments for Direct Loan Program Schools (§685.300 to §685.309) > 685.307—Withdrawal procedure for schools participating in the Direct Loan Program.

685.307—Withdrawal procedure for schools participating in the Direct Loan Program.

(a) A school participating in the Direct Loan Program may withdraw from the program by providing written notice to the Secretary.

(b) A participating school that intends to withdraw from the Direct Loan Program shall give at least 60 days notice to the Secretary.

(c) Unless the Secretary approves an earlier date, the withdrawal is effective on the later of—

(1) 60 days after the school notifies the Secretary; or

(2) The date designated by the school.

Code of Federal Regulations

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