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The Department of Education (ED) released an electronic announcement on Monday requesting that Title IV-participating institutions reach out to their former students and current borrowers with information on student loan repayment in an effort to ensure more borrowers enter repayment and stay current on their loans.

NASFAA has submitted comments on the Department of Education's (ED) notice regarding potential negotiated rulemaking topics. In this feedback, NASFAA addressed several key areas proposed for negotiation. NASFAA strongly urged ED not to narrow the definition of qualifying employers for Public Service Loan Forgiveness (PSLF), emphasizing the need for program stability and fairness for borrowers relying on the current rules. NASFAA also stressed that any approach to Income-Driven Repayment (IDR) plans must retain core principles of affordability and eventual loan forgiveness, while supporting simplification efforts. Additionally, NASFAA recommended focusing regulatory streamlining efforts on specific areas like Gainful Employment/Financial Value Transparency, Return of Title IV Funds (R2T4), and state licensure requirements to reduce administrative burden.

Last week, the House Committee on Education & Workforce released and advanced its portion of a  reconciliation bill, outlining significant proposed changes to the federal student loan system. The legislation touches nearly every aspect of borrowing and repayment, including eliminating certain loan types, restructuring repayment plans, and modifying eligibility for Public Service Loan Forgiveness (PSLF). This NASFAA deep dive, the second in a three-part series, will focus on portions of the text concerning the federal loan system, repayment programs,PSLF, and loan servicing.

We greatly appreciate the support of our Platinum & Gold sponsors and all that they contribute to the NASFAA community. Take a moment to check out the exhibitor pages and learn more about College Ave, College Board, Earnest, Oracle, Sallie Mae, SoFi, MEFA and MOHELA.

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