Rule2023-23334
Improving Income Driven Repayment for the William D. Ford Federal Direct Loan Program and the Federal Family Education Loan (FFEL) Program
Primary source
Metadata and text below are from the Federal Register, a public-domain U.S. government work. Always verify the official published version before relying on it for any legal matter.
Published
October 23, 2023
Issuing agencies
Education Department
Abstract
The U.S. Department of Education (Department) designates a regulatory provision in its final rule related to income-driven repayment for early implementation.
Full Text
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<title>Federal Register, Volume 88 Issue 203 (Monday, October 23, 2023)</title>
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[Federal Register Volume 88, Number 203 (Monday, October 23, 2023)]
[Rules and Regulations]
[Pages 72685-72686]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2023-23334]
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DEPARTMENT OF EDUCATION
34 CFR Part 685
[Docket ID ED-2023-OPE-0004]
RIN 1840-AD81
Improving Income Driven Repayment for the William D. Ford Federal
Direct Loan Program and the Federal Family Education Loan (FFEL)
Program
AGENCY: Office of Postsecondary Education, Department of Education.
ACTION: Announcement of early implementation date.
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SUMMARY: The U.S. Department of Education (Department) designates a
regulatory provision in its final rule related to income-driven
repayment for early implementation.
DATES: October 23, 2023. For the implementation dates of the regulatory
provision, see SUPPLEMENTARY INFORMATION.
FOR FURTHER INFORMATION CONTACT: Bruce Honer, U.S. Department of
Education, 400 Maryland Avenue SW, 5th Floor, Washington, DC 20202.
Telephone: (202) 987-0750. Email: <a href="/cdn-cgi/l/email-protection#87c5f5f2e4e2a9cfe8e9e2f5c7e2e3a9e0e8f1"><span class="__cf_email__" data-cfemail="1250606771773c5a7d7c77605277763c757d64">[email protected]</span></a>.
If you are deaf, hard of hearing, or have a speech disability and
wish to access telecommunications relay services, please dial 7-1-1.
SUPPLEMENTARY INFORMATION: Section 482(c)(1) of the Higher Education
Act of 1965, as amended (HEA), requires that regulations affecting
programs under title IV of the HEA be published in final form by
November 1 prior to the start of the award year (July 1) to which they
apply. Section 482(c)(2) of the HEA also
[[Page 72686]]
permits the Secretary to designate any regulatory provision as one that
an entity subject to the provision may choose to implement earlier and
to outline the conditions for early implementation.
On July 10, 2023, the Department published in the Federal Register
a final rule amending regulations related to income-driven repayment
(88 FR 43820). In that final rule, we designated certain provisions for
early implementation.
The Secretary is exercising his authority under section 482(c) of
the HEA to designate an additional regulatory change made in that final
rule for early implementation beginning on October 23, 2023.
The Secretary is designating for early implementation the change to
the process for a borrower re-enrolling in the Revised Pay As You Earn
(REPAYE) repayment plan, which is now also known as the Saving on a
Valuable Education (SAVE) repayment plan, after previously being
enrolled in a different plan. Under current 34 CFR 685.209(c)(4)(vi)(D)
and (E), a borrower returning to REPAYE must provide documentation of
income for the years in which the borrower was not on REPAYE. Section
685.209(e) of the final rule, which will become effective on July 1,
2024, employs a simpler process that does not require documentation of
prior years' income information. See 88 FR 43820, 43901. On October 23,
2023, the Department will implement Sec. 685.209(e), to the extent it
eliminates the requirement for borrowers returning to SAVE after having
previously been on REPAYE to provide prior years' income. The Secretary
is designating only the removal of this requirement for early
implementation, rather than all of Sec. 685.209(e).
While documentation of income for years in which a borrower was not
enrolled in REPAYE is no longer required, a borrower will still need to
provide documentation of their income information to allow the
Department to calculate the borrower's current monthly payment amount
under the SAVE plan.
Accessible Format: On request to the program contact person listed
under FOR FURTHER INFORMATION CONTACT, individuals with disabilities
can obtain this document in an accessible format. The Department will
provide the requestor with an accessible format that may include Rich
Text Format (RTF) or text format (txt), a thumb drive, an MP3 file,
braille, large print, audiotape, or compact disc, or other accessible
format.
Electronic Access to This Document: The official version of this
document is the document published in the Federal Register. You may
access the official edition of the Federal Register and the Code of
Federal Regulations at <a href="http://www.govinfo.gov">www.govinfo.gov</a>. At this site you can view this
document, as well as all other documents of this Department published
in the Federal Register, in text or Adobe Portable Document Format
(PDF). To use PDF, you must have Adobe Acrobat Reader, which is
available free at the site.
You may also access documents of the Department published in the
Federal Register by using the article search feature at
<a href="http://www.federalregister.gov">www.federalregister.gov</a>. Specifically, through the advanced search
feature at this site, you can limit your search to documents published
by the Department.
Miguel A. Cardona,
Secretary of Education.
[FR Doc. 2023-23334 Filed 10-20-23; 8:45 am]
BILLING CODE 4000-01-P
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