Enclosure B - Federal Family Education Loan Program Final Regulations PublicationDate: October 29, 1999 Effective Date: July 1, 2000 PART 682--Federal Family Education Loan Program Sec. 682.208 Due diligence in servicing a loan. (c) * * * (3)(i) If the borrower disputes the terms of the loan in writing and the lender does not resolve the dispute, the lender's response must provide the borrower with an appropriate contact at the guaranty agency for the resolution of the dispute. (ii) If the guaranty agency does not resolve the dispute, the agency's response must provide the borrower with information on the availability of the Student Loan Ombudsman's office. * * * * * Sec. 682.410 Fiscal, administrative, and enforcement requirements. (b) * * * (5) * * * (vii) As part of the guaranty agency's response to a borrower who appeals an adverse decision resulting from the agency's administrative review of the loan obligation, the agency must provide the borrower with information on the availability of the Student Loan Ombudsman's office. * * * * * Sec. 682.411 Lender due diligence in collecting guaranty agency loans. (b) Delinquency. (3) As part of one of the collection activities provided for in this section, the lender must provide the borrower with information on the availability of the Student Loan Ombudsman's office. * * * * * |