MOY IS WRONG. ALL THE JUDGES KNOW.

-Moy quoted the wrong section of the Code of Federal Regulations (CFR ).

-There is a fiduciary duty between a student and her government.

-I submitted this in federal court. The judges know.

-See, 34 CFR sec. 668.161(b): Federal interest in title IV, HEA program funds. Except for funds received by an institution for administrative expenses and for funds used for the Job Location and Development Program under the FWS Programs, funds received by an institution under the Title IV, HEA programs are held in trust for the intended student beneficiaries and the Secretary. FFEL (federal family educational loan programs) program funds are also held in trust for the lenders and guaranty agencies, in addition to the student beneficiaries and the Secretary, under 34 CFR 682.207. The institution, as a trustee of Federal funds, may not use or hypothecate (i.e., use as collatreral ) title IV, HEA program funds for any other purpose.