(a) Notice in lieu of regulations for first year of program
(1) Notice in lieu of regulations for first year of program The Secretary shall publish in the Federal Register whatever standards, criteria, and procedures, consistent with the provisions of this part, the Secretary, in consultation with members of the higher education community, determines are reasonable and necessary to the successful implementation of the first year of the direct
student loan program authorized by this part. Section
12321 of this title shall not apply to the publication of such standards, criteria, and procedures.
(2) Negotiated rulemaking
Beginning with academic year 19951996, all standards, criteria, procedures, and regulations implementing this part as amended by the Student Loan Reform Act of 1993 shall, to the extent practicable, be subject to negotiated rulemaking, including all such standards, criteria, procedures, and regulations promulgated from August 10, 1993.