34 CFR § 682.702 - Effect on participation.

---
identifier: "/us/cfr/t34/s682.702"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "34 CFR § 682.702 - Effect on participation."
title_number: 34
title_name: "Education"
section_number: "682.702"
section_name: "Effect on participation."
chapter_name: "OFFICE OF POSTSECONDARY EDUCATION, DEPARTMENT OF EDUCATION"
part_number: "682"
part_name: "FEDERAL FAMILY EDUCATION LOAN (FFEL) PROGRAM"
positive_law: false
currency: "2026-03-24"
last_updated: "2026-03-24"
format_version: "1.1.0"
generator: "[email protected]"
authority: "20 U.S.C. 1071-1087-4, unless otherwise noted."
regulatory_source: "57 FR 60323, Dec. 18, 1992, unless otherwise noted."
cfr_part: "682"
---


# 682.702 Effect on participation.

(a) Limitation, suspension, or termination proceedings by the Secretary do not affect a lender's responsibilities or rights to benefits and claim payments that are based on the lender's prior participation in the program, except as provided in § 682.709.

(b) A limitation imposes on a lender—

(1) A limit on the number or total amount of loans that a lender may purchase or hold under the FFEL Program; or

(2) Other reasonable requirements or conditions, including those described in § 682.709.

(c) A limitation imposes on a third-party servicer—

(1) A limit on the number of loans or accounts or total amount of loans that the servicer may service;

(2) A limit on the number of loans or accounts or total amount of loans that the servicer is administering under its contract with a lender or guaranty agency; or

(3) Other reasonable requirements or conditions, including those described in § 682.709.

(Authority: 20 U.S.C. 1080, 1082, 1085, 1094)

[57 FR 60323, Dec. 18, 1992, as amended at 59 FR 22457, Apr. 29, 1994; 78 FR 65822, Nov. 1, 2013]