Final rules related to loan issues were released in the Federal Register with an effective date of July 1, 2014, although several provisions were authorized for early implementation. These Final Rules are the second set of Final Rules released as a result of negotiated rulemaking that took place in early 2012. The topics that were negotiated were split into two regulatory packages due to the large volume of changes to regulatory text necessary as a result of the discontinuation of the FFEL Program. The first package of regulatory changes, effective July 1, 2013, implemented the Pay As You Earn (PAYE) repayment plan, incorporated statutory changes to the Income-Based Repayment (IBR) plan, and streamlined the total and permanent disability (TPD) discharge process.
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