7/19/12

ED Issues Notice of Proposed Rulemaking

ED published the first round of proposed rules on loan issues discussed during the negotiated rulemaking session that took place this past March. This Federal Register notice includes proposed rules for Income Contingent Repayment (ICR), Income-Based Repayment (IBR) and Total and Permanent Disability (TPD).

Comments on this NPRM are due by August 16, 2012 (30 days), and final regulations are expected to be published on or before November 1, 2012 for an effective date of July 1, 2013. A second NPRM addressing other topics is expected to be published later this summer with final regulations expected sometime next spring for an effective date of July 1, 2014.

OCAP will update you once the second NPRM and the final regulations become available.

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Mary Heid
Director for Policy, Compliance & Training
OCAP Communications
P.O. Box 3000
Oklahoma City, OK 73101-3000
Communications@ocap.org
www.ocap.org