FR part
VI
Publication Date: October 30, 2015
Posted Date: October 30, 2015
Subject: Final Rule: Student Assistance General Provisions, Federal Family Education Loan Program, and Federal Direct Loan Program
FR Part: VI
FR Type: Final
Effective Date: July 1, 2016
[Federal Register Volume 80, Number 210 (Friday, October 30, 2015)] [Rules and Regulations] [Pages 67203-67242] From the Federal Register Online via the Government Publishing Office [www.gpo.gov] [FR Doc No: 2015-27143] [[Page 67203]] Vol. 80 Friday, No. 210 October 30, 2015 Part VI Department of Education ----------------------------------------------------------------------- 34 CFR Parts 668, 682, and 685 Student Assistance General Provisions, Federal Family Education Loan Program, and William D. Ford Federal Direct Loan Program; Final Rule Federal Register / Vol. 80 , No. 210 / Friday, October 30, 2015 / Rules and Regulations [[Page 67204]] ----------------------------------------------------------------------- DEPARTMENT OF EDUCATION 34 CFR Parts 668, 682, and 685 [Docket ID ED-2014-OPE-0161] RIN 1840-AD18 Student Assistance General Provisions, Federal Family Education Loan Program, and William D. Ford Federal Direct Loan Program AGENCY: Office of Postsecondary Education, Department of Education. ACTION: Final regulations. ----------------------------------------------------------------------- SUMMARY: The Secretary amends the regulations governing the William D. Ford Federal Direct Loan (Direct Loan) Program to create a new income- contingent repayment plan in accordance with the President's initiative to allow more Direct Loan borrowers to cap their loan payments at 10 percent of their monthly incomes. The Secretary is also implementing changes to the Federal Family Education Loan (FFEL) Program and Direct Loan Program regulations to streamline and enhance existing processes and provide additional support to struggling borrowers. These regulations will also amend the Student Assistance General Provisions regulations by expanding the circumstances under which an institution may challenge or appeal a draft or final cohort default rate based on the institution's participation rate index. DATES: The regulations are effective July 1, 2016. Implementation date: For the implementation dates of the included regulatory provisions, see the Implementation Date of These Regulations section of this document. FOR FURTHER INFORMATION CONTACT: For further information related to the Servicemembers Civil Relief Act (SCRA), the treatment of lump sum payments made under Department of Defense (DOD) student loan repayment programs for the purposes of public service loan forgiveness, and expanding the use of the participation rate index (PRI) challenge and appeal, Barbara Hoblitzell at (202) 502-7649 or by email at: Barbara.Hoblitzell@ed.gov. For information related to loan rehabilitation, Ian Foss at (202) 377-3681 or by email at: Ian.Foss@ed.gov. For information related to the Revised Pay As You Earn repayment plan, Brian Smith or Jon Utz at (202) 502-7551 or (202) 377- 4040 or by email at: Brian.Smith@ed.gov or Jon.Utz@ed.gov. If you use a telecommunications device for the deaf (TDD) or a text telephone (TTY), call the Federal Relay Service (FRS), toll free, at 1- 800-877-8339.