Department Releases Proposed Draft Regulations For Student Loan Negotiated Rulemaking's Fourth And Final Meeting
Yesterday the Department released proposed draft regulations for the student loan negotiated rulemaking (negreg) committee to discuss at next week's meetings. While negreg was only scheduled for three rounds, negotiators agreed to extend the meetings for one final round in an attempt to reach consensus and give the Department more time to examine some of the regulatory proposals on defining a not-for-profit lender. The draft regulations provided by the Department address the following issues:
Income-based repayment
Debt-to-income ratio for economic hardship deferment
Public service loan forgiveness
Harmonizing HEROES waivers and other benefits provided to returning and active duty military
Definition of a not-for-profit lender
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 12:00 AM (EST) Monday, April 14 so they can be compiled for that morning's negreg session.
By Justin Draeger NASFAA Assistant Director for Communications
Posted 04/10/08 to www.NASFAA.org. Redistribution to non-NASFAA institutions is prohibited. Please submit Web Site questions or comments to Web@NASFAA.org.
