Posted Date:October 25, 2013
|Author:||Lynn Mahaffie, Acting Deputy Assistant Secretary, Policy, Planning and Innovation, Office of Postsecondary Education|
Subject: Second Set of Final Regulations for the Title IV Federal Student Loan Programs
On July 29, 2013, the Secretary published in the Federal Register the second Notice of Proposed Rulemaking (NPRM) (78 FR 45618). for the Title IV Student Loan programs that resulted from negotiated rulemaking sessions held between January and March of 2012. That NPRM proposed changes to regulations governing cohort default rate participation rate index challenges and appeals, the determination of reasonable and affordable payments for Direct Loan and FFEL borrowers wishing to rehabilitate their defaulted loans, the closed school loan discharge process, forbearance granted to borrowers receiving Department of Defense Student Loan Repayment Benefits and for borrowers who are 270 or more days delinquent on their loans, Federal Perkins Loan deferment and cancellation, FFEL lender repayment disclosures to borrowers, and administrative wage garnishment for defaulted FFEL program borrowers.
Within the next several days, we will publish in the Federal Register the final regulations developed after the Department’s review of public comments received in response to this second loans NPRM.
We have attached to this Electronic Announcement, in PDF format, a copy of the final regulations that will be published in the Federal Register. Note that the official version of this document is the document published in the Federal Register.