Posted Date:May 19, 2015
|Author:||Jeff Baker, Director, Policy Liaison and Implementation, Federal Student Aid|
Subject: Notice of Proposed Rulemaking on Cash Management, Clock-to-Credit-Hour Conversion, and Repeat Coursework
On May 18, 2015, the Department published in the Federal Register a Notice of Proposed Rulemaking (NPRM) (80 FR 28484), proposing tougher standards and greater transparency surrounding agreements between postsecondary institutions and companies in the rapidly expanding college financial products marketplace. The NPRM also proposes to amend regulations unrelated to cash management to provide for more equitable treatment of student aid recipients.
This NPRM is the second proposed rulemaking to result from the program integrity and improvement negotiated rulemaking that occurred in early 2014--we completed the first rulemaking when we published final regulations on October 23, 2014 that strengthen and improve the administration of the Federal Direct PLUS Loan Program.
Comments on the proposed regulations may be submitted electronically through www.regulations.gov and must be received no later than July 2, 2015. We have attached a pdf copy of the NPRM to this announcement.