Monday, October 27, 2014

"Pay as You Earn" Public Comment Period on Student Loans Closes Soon!

The Department of Education (ED) invites the public to share thoughts and/or offer comments on the president’s proposal to expand the “Pay As You Earn” repayment program and to target this option to those borrowers who would otherwise struggle to repay their loans. 

The Pay As You Earn proposal would allow even more students who have borrowed Federal Direct Loans the ability to cap their Federal student loan payments at 10 percent of their income.  
ED will also accept written comments regarding additional issues surrounding Pay As You Earn that should be considered.

To read the president’s memorandum posted on June 9th, 2014, and learn more about efforts to help student loan borrowers manage their debt through Pay As You Earn, visit here.  The Department's official response to this memorandum was posted in the Federal Register.

If you are interested in offering feedback/comments, the opportunity to do so is available through November 4th and can be done in one of two ways:

Comments about these proposed regulations can be submitted electronically by clicking on the blue, “Comment Now” box in the upper right hand corner of this webpage.

Comments about these proposed regulations can also be mailed to Wendy Macias at the U.S. Department of Education, 1990 K St NW, Room 8017, Washington D.C. 20006. 

Privacy Note
The Department's policy is to make all comments received from members of the public (including those comments submitted by mail, commercial delivery, or hand delivery) available for public viewing in their entirety on the Federal eRulemaking Portal at www.regulations.gov. Therefore, commenters should be careful to include in their comments only information that they wish to make publicly available.

The deadline for comments is November 4th.