Hot Topic – IBR, ICR, and PAYE: How You Spell (Student Loan Debt) Relief
Date: Wednesday, June 26, 2013
Time: 2pm ET
Site License: $115 members / $230 non-members/ no charge for webinar package purchasers
With all the recent changes and uncertainty in federal student aid, the Department of Education has made strides in providing some new income-driven repayment plan options and tweaking old ones to relieve student loan indebtedness. The November 1, 2012, Federal Register contained the final rules for the new Pay As You Earn (PAYE) Repayment Plan, as well as revisions to the existing Income-Contingent Repayment (ICR) Plan and the Income-Based Repayment (IBR) Plan. In this NASFAA webinar, we will review the features of the IBR, ICR, and PAYE repayment plans, as well as the recent changes to and key differences among them. We will include a preview changes to the IBR Plan effective July 1, 2014. We will also discuss how you might counsel your borrowers on selecting a repayment plan, completing their plan application and documentation requirements, and understanding their follow-up responsibilities after they have been approved for a plan.
- Identify available Direct Loan and FFEL repayment plans;
- Describe the features of the IBR, ICR, and PAYE repayment plans, including recent changes to each;
- Explain the IBR, ICR, and PAYE repayment plan differences;
- Explain what the school’s counseling responsibilities are related to assisting borrowers in selecting a repayment plan, as well as providing tips and best practices for counseling students; and
- Assist borrowers in selecting a repayment plan, completing their application, and in understanding their follow-up responsibilities once they have been approved for the plan.
- Miriam Aybar-Morales Assistant Director, Financial Aid Office at Gallaudet University
- Stephen G. Brown, Assistant Dean, Law School, Fordham University New York Campus
- Mary B. W. Fenton, Director, Student Financial Aid Services, The University of New Mexico Health Sciences Center
- David Futrell, Content Specialist
- Eunice Powell, Senior Training Specialist
- Eileen Welsh, Training Specialist
Guest Resource Expert
- Dan Weigle, Manager of School Support Teams, FedLoan Servicing
- Jennifer Martin , Director, Content Management, NASFAA
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