Department Releases Additional Draft Regulations On Not-For-Profit Lenders
Yesterday afternoon the Department released additional draft regulations for the student loan negotiated rulemaking (negreg) committee to discuss at next week's meeting. These additional draft regulations focus solely on not-for-profit lender provisions and come a day after the Department released draft regulations on four other agenda items: income-based repayment, debt-to-income ratio for economic hardship deferment, public service loan forgiveness, and harmonizing HEROES waivers and other benefits provided to returning and active duty military. Summaries of the previous negreg discussions are available online.
NASFAA is currently studying the draft regulations to determine how it will affect students and families as well as financial aid administrators who will be called on to implement them. NASFAA Director of Congressional Relations Larry Zaglaniczny - who is currently serving on the negreg committee - will share all comments, opinions, and suggested changes with federal and nonfederal negotiators. All comments on these issues or the draft regulatory language should be sent to negreg@nasfaa.org by 2:00 PM Sunday, February 3 so they can be compiled for Monday morning's negreg session.
Posted 02/01/08 to www.NASFAA.org. Redistribution to non-NASFAA institutions is prohibited. Please submit Web Site questions or comments to Web@NASFAA.org.
