General purpose and authority of the Department of Education as the state guarantee agency. The primary purpose of the Florida Federal Family Education Loan Program (FFFELP) is to provide financial assistance to students in pursuit of postsecondary education. The Department of Education, hereinafter referred to as the Department, shall serve as the designated agency within the state to administer student loans and loan guarantees authorized by law for persons determined eligible under the applicable provisions of the Higher Education Act of 1965 as amended (ACT). The Department shall ensure that its programs meet the requirements of 34 C.F.R. § part 600, 34 C.F.R. § part 668 and 34 CFR 682. The Department shall require participating parties in the FFFELP to comply with the ACT and the Code of Federal regulations as cited herein.
Rulemaking Authority 1009.90 FS. Law Implemented 1009.90, 1009.91, 1009.92, 1009.95 FS. History-New 4-18-96, Amended 9-30-99. Cf. Title 34, Parts 600, 668 and 628, Code of Federal Regulations.