Each school must establish and maintain administrative and fiscal procedures necessary to achieve the following objectives:
(a) Proper and efficient administration of the funds received from students who have HEAL loans;
(b) Protection of the rights of students under the HEAL program;
(c) Protection of the United States from unreasonable risk of loss due to defaults; and
(d) Compliance with applicable requirements for HEAL schools.
authority: Sec. 215, Pub. L. 78-410, 58 Stat. 690, as amended, 63 Stat. 35 (
42 U.S.C. 216); secs. 727-739A, Pub. L. 78-410, 90 Stat. 2243, as amended, 93 Stat. 582, 99 Stat. 529-532, 102 Stat. 3122-3125 (
42 U.S.C. 294-294
source: 82 FR 53378, Nov. 15, 2017, unless otherwise noted.
cite as: 34 CFR 681.55