{"data":{"id":"us/34-cfr-appendix-e-to-part-674","jurisdiction":"us","citation":"34 CFR Appendix E to Part 674","heading":"Appendix E to Part 674—Examples for Computing Maximum Penalty Charges (6 Months Unpaid Overdue Payments) on Direct Loans Made for Periods of Enrollment Before January 1, 1986","body":"Monthly repayment schedule Installment due dates—Missed payments Separate monthly maximum penalty charges\nJan. 2 Feb. 2 Mar. 2 Apr. 2 May 2 June 2\n1st Past due installment $1 $1\n2nd Past due installment $1 + $2 3\n3rd Past due installment $3 + $2 5\n4th Past due installment $5 + $2 7\n5th Past due installment $7 + $2 9\n6th Past due installment $9 + $2 11\nCumulative maximum subtotals 1 4 9 16 25 36\nBimonthly repayment schedule Installment due dates—Missed payments Separate bimonthly maximum penalty charges\nJan. 2 Mar. 2 May 2\n1st Past due installment $3 $3\n2nd Past due installment $3 + $3 6\n3rd Past due installment $6 + $3 9\nCumulative maximum subtotals 3 9 18\nQuarterly repayment schedule Installment due dates—Missed payments Separate quarterly maximum penalty charges\nJan. 2 Apr. 2\n1st Past due installment $6 $6\n2nd Past due installment $6 + $6 12\nCumulative maximum subtotals 6 18\nNote. In the above table of examples, the Cumulative Maximum Subtotal line contains the maximum penalty charges that can be assessed on an NDSL borrower for any given installment that was missed on its due date. For example, if three borrowers, all on different repayment schedules, owed and missed their first installment payment on January 2 and all three made their next payment on April 10, the maximum penalty charges that could be assessed each individual borrower would be as follows: $16 to the monthly repayment schedule borrower; $9 to the bimonthly repayment schedule borrower; and $18 to the quarterly repayment schedule borrower.","path":["Title 34—Education","Subtitle B—Regulations of the Offices of the Department of Education","CHAPTER VI—OFFICE OF POSTSECONDARY EDUCATION, DEPARTMENT OF EDUCATION","PART 674—FEDERAL PERKINS LOAN PROGRAM"],"source_url":"https://www.ecfr.gov/api/versioner/v1/full/2026-08-25/title-34.xml","current_through":"2026-08-25","vintage":"","retrieved_at":"2026-08-27T02:25:40Z","sha256":"8f76aef7504606b74a5ba4568cd3e7fcaf1927ac05939ff33f46b103b103ae83","source_id":"us-cfr","stale":true,"prev":"us/34-cfr-appendixes-a-d-to-part-674","next":"us/34-cfr-675.1"},"notice":"GroundRules: Original legal text. Not legal advice."}