Another income-driven repayment is on the way, according to one of two sets of final rules that will be officially released later this week. The REPAYE repayment plan will be available to borrowers beginning in December 2015. The final rules package also makes changes that affect:
The second final rules package amends the cash management regulations governing various financial vehicles that can be used to release Title IV credit balances to students and amends the student eligibility regulations to clarify how previously passed coursework is treated for Title IV eligibility purposes and streamline the requirements for converting clock hours to credit hours.
NASFAA will be updating this article with Federal Register links when available and providing a thorough analysis of the final rules in Today’s News in the coming days. For background information about the negotiating rulemaking that led to these regulations, see NASFAA’s negotiated rulemaking page.
Publication Date: 10/28/2015