Cal. Code Regs. tit. 5, § 30300
(c) of a school's loss of lender eligibility by the Secretary of the U.S. Department of Education (USED) due to its default experience under sections 682.611 and 683.90 of 34 C.F.R.
In any such case, the CLP Official terminates the participation of the institution immediately by sending notice of such termination.
Any action taken under this subpart or any other provision of these rules will not affect an institution's responsibility to fulfill the requirements of the Act, regulations or CELP policies and procedures applicable to outstanding CELP loans or the institution's rights, if any, to benefits or payments that are based on the institution's prior participation in the CELP.
This subpart does not apply to:
Note: Authority cited: Section 69763, Education Code. Reference: 20 U.S.C. 1078(b)(2), 1078-2(a); 34 C.F.R. 682.401(c)(2)(ii), 683.31(c)(2)(ii); and Section 69763, Education Code.
1. New article 11 (sections 30300-30314) filed 11-8-84; effective upon filing pursuant to Government Code section 11346.2(d) (Register 84, No. 45).
2. Editorial correction of printing error correcting article 11 heading (Register 91, No. 29).