Negotiated Rulemaking for Higher Education 2011 -- Team II, Student Loan Issues

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HIGHER EDUCATION
Negotiated Rulemaking for Higher Education 2011 -- Team II, Student Loan Issues

On November 1, 2012 the Department published final regulations. The final regulations implement a new Income-Contingent Repayment (ICR) plan in the Direct Loan program based on the President’s “Pay As You Earn” repayment initiative, incorporate recent statutory changes to the Income-Based Repayment (IBR) plan in the Direct Loan and FFEL programs, and streamline and add clarity to the total and permanent disability (TPD) discharge process for borrowers in Title IV loan programs. The final regulations implementing a new ICR plan and the statutory changes to the IBR plan will assist borrowers in repaying their loans, while the changes to the TPD discharge process will reduce burden for borrowers who are disabled and seeking a discharge of their Title IV debt.

The following is a list of the supporting information cited in the preambles of the Notice of Proposed Rulemaking and the final regulations. (All documents are reprinted with permission.)

Digest of Education Statistics 2010 (U.S. Department of Education, April 2011) (pages 493–495, page 498, page 504 (Table 354)) | PDF (7.57MB)
Table 4A: Average Tuition and Fees in Current Dollars, 1981–82 to 2011–12, Trends in College Pricing. © 2011. The College Board. www.collegeboard.org | MS Excel (40K) | PDF (187K)

The full report is available from The College Board.
Digest of Education Statistics: 1995 (United States Department of Education, National Center for Education Statistics, October, 1995) (Table 309) MS Excel (223K) | PDF (47K)
Georgetown Center on Education and the Workforce, The College Payoff: Education, Occupations, Lifetime Earnings, Anthony P. Carnevale, Stephen J. Rose and Ban Cheah (page 3) PDF (11MB)
Recent College Graduates and the Job Market, Bart Hobijn, Colin Gardiner, and Theodor Wiles PDF (93K)

Reprinted from the Federal Reserve Bank of San Francisco. Economic Letter 2011-09. March 21, 2011. The opinions expressed in this article do not necessarily reflect the views of the management of the Federal Reserve Bank of San Francisco, or of the Board of Governors of the Federal Reserve System.

The full publication is also available at http://www.frbsf.org/publications/economics/letter/2011/el2011-09.html
Oreopoulos, Philip, Till von Wachter, and Andrew Heisz. 2012. The Short- and Long-Term Career Effects of Graduating in a Recession. American Economic Journal: Applied Economics, 2012, 4 (1): 1-29. PDF (580K)
Press release of the National Association of Colleges and Employers, Fall 2011 Salary Survey PDF (69K) [Reprinted with the permission of the National Association of Colleges and Employers]
Repayment Plans and Calculators

On July 17, 2012, the Department published in the Federal Register a Notice of Proposed Rulemaking (NPRM). Through this NPRM, the Secretary proposed to implement a new Income Contingent Repayment plan in the Direct Loan program based on the President's "Pay As You Earn" repayment initiative, incorporate recent statutory changes to the Income Based Repayment plan in the Direct Loan and FFEL programs, and streamline and add clarity to the total and permanent disability discharge process for borrowers in the Title IV, HEA loan programs.

To access the public comments submitted in response to the Notice of Proposed Rulemaking pertaining to repayment options for student loans, go to www.regulations.gov, and search docket number ED–2012–OPE–0010.

On October 28, 2011, the Department published a notice in the Federal Register announcing our intention to establish a negotiated rulemaking committee to prepare proposed regulations governing the student loan programs authorized under title IV of the Higher Education Act of 1965, as amended (HEA). The committee will include representatives of organizations or groups with interests that are significantly affected by the topics proposed for negotiation. Through this notice, we request nominations for individual negotiators who represent key stakeholder constituencies for the issues to be negotiated to serve on the committee and we set a schedule for committee meetings. | PDF

Electronic Announcement regarding Special Direct Consolidation Loans.

List of Negotiators: MS Word (48K) | PDF (202K)

Session One: January 9-13, 2012