Federal Family Education Loan (FFEL) Program; Guaranty Agencies Conflicts of Interest

Resumo

The Secretary amends the Federal Family Education Loan (FFEL) Program regulations. These final regulations are needed to implement changes to the Higher Education Act of 1965, as amended (HEA) giving the Secretary additional powers to assure the safety of Federal reserve funds and assets maintained by guaranty agencies insuring educational loans under the FFEL Program. The regulations establish conflicts of interest restrictions for guaranty agency staff and affiliated individuals and prohibit agencies from using Federal reserve funds for certain purposes.