Proposed US Student Loan Modifications

US Department of Education:

The Secretary proposes to amend the Federal Perkins Loan

(Perkins Loan) program, Federal Family Education Loan (FFEL) program,
and William D. Ford Federal Direct Loan (Direct Loan) program
regulations. The proposed regulations would implement a new Income
Contingent Repayment (ICR) plan in the Direct Loan program based on the
President's ``Pay As You Earn'' repayment initiative, incorporate
recent statutory changes to the Income Based Repayment (IBR) plan in
the Direct Loan and FFEL programs, and streamline and add clarity to
the total and permanent disability discharge process for borrowers in
the title IV, HEA loan programs. The proposed regulations implementing
a new ICR Plan and the statutory changes to the IBR plan would assist
borrowers in repaying their loans while the proposed changes to the
total and permanent disability discharge process would reduce burden
for borrowers who are disabled and seeking a discharge of their title
IV debt.

Posted by Jim Zellmer at July 21, 2012 3:57 AM
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