ED: Online Application for IDR Plans Back Online
By Hugh T. Ferguson, NASFAA Managing Editor
While the legal challenges to the Biden administration’s newest income-driven repayment plan (IDR), the Saving on Valuable Education (SAVE) plan, continues to play out in the courts, the Department of Education (ED) is once again accepting online applications for certain IDR plans. The online application was taken offline for over a month after the initial lawsuit was filed to pause the full implementation of the repayment plan.
Borrowers who wish to either recertify their income or apply for a new plan should visit the department’s IDR Plan Request page. However, it appears that the online application is not currently utilizing the FUTURE Act Direct Data Exchange (FA-DDX) for the purposes of income verification. Instead, the application prompts applicants to upload their most recent tax return or income verification documents in order to submit their application.
Additional details on the SAVE plan can be found on the department’s Q&A page.
For more details from NASFAA see our recent article detailing the Biden administration’s debt relief efforts and our student loan relief timeline.
Publication Date: 10/18/2024
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