Student Loan Negotiated Rulemaking Underway

Abstract:

Federal and nonfederal negotiators met in Washington D.C. yesterday to begin discussing negotiated rulemaking topics on federal student loans. During introductions negotiators shared expectations and concerns about several new provisions introduced by the College Cost Reduction and Access Act (CCRAA), with most of the comments focusing on the new income-based repayment plan and the public service loan forgiveness program. The Department divided the agenda items into two separate packages for consideration. The first package of regulatory issues will focus solely on provisions related to the CCRAA. The second package will focus on federal preemption laws over state laws relating to improper inducements and arrangements between schools and lenders.

The full article was originally published in NASFAA’s Today’s News on 1/15/08.