OCAP Legislative Update


Title IV Student Loan Repayment and Discharge Provisions

Final regulations were published in the Federal Register (http://www.ifap.ed.gov/fregisters/FR110112FinalRule.html) on Nov. 1 affecting the following Title IV student loan repayment and discharge provisions:

The effective date for these regulations is July 1, 2013; however, the regulatory changes related to IBR annual income documentation, forbearance, and recalculation of the payment amount, are eligible for early implementation. In addition, the Department intends for the ICR Pay As You Earn provisions to be implemented as soon as possible; a separate Federal Register will be published to announce when this option becomes available to borrowers.

Questions regarding these regulations may be directed to OCAP Compliance at 405-234-4432.

Mary Heid
Director for Default Prevention, Compliance & Training Services
OCAP Communications
P.O. Box 3000
Oklahoma City, OK 73101-3000