What You Need to Know
On April 4, ED announced a new negotiated rulemaking to review some of the federal student loan repayment programs, including Public Service Loan Forgiveness, Pay as You Earn, and Income-Contingent Repayment. The announcement also indicated that the Department would consider “other topics that would streamline current federal student financial assistance programs.” To kick off the process, the Department will hold listening sessions on April 29 (in-person) and May 1 (virtual). Written comments can be submitted to ED through May 5. Why This Is Important
Negotiated rulemaking – colloquially known as "neg reg" – is the complicated regulatory process that ED must utilize when it intends to make changes to Title IV regulations. When coupled with the master calendar, which is a statutorily mandated timeline for new Title IV regulations, the entire rulemaking process takes years. The earliest possible date new regulations could take effect is July 1, 2026, though July 1, 2027 seems more likely. AACS remains engaged with senior officials at ED, and we encourage our community to participate in this process to share feedback on loan repayment programs and to provide suggestions to the Department on how to streamline financial aid programs. |