| PublicationDate: 8/27/96 Summary: THE VERDICT IS IN ON PLUS DELAYS Author: PDD - Policy Development Division/PTAS August 27, 1996 THE VERDICT IS IN ON PLUS DELAYS The delayed delivery rule for first-year, first-time borrowers does not apply to PLUS proceeds in either the Direct Loan Program or the Federal Family Education Loan (FFEL) Program. In the Direct Loan Program regulations, 34 CFR 685.303(b)(4), an institution is required to delay only the disbursement of Direct Subsidized Loans and Direct Unsubsidized Loans for first-year, first-time undergraduate borrowers until 30 days after the first day of the student's program of study. Similarly, in the FFEL Program regulations, 34 CFR 682.603 and 682.604(c)(5), an institution is required to delay only the delivery of Stafford Loan proceeds to first-year, first-time undergraduate borrowers until 30 days after the first day of the student's program of study. If you have any questions about this, please feel free to call SFA Customer Support at 1-800-433-7327 OR email us at csb@ed.gov. |