View Rule
View EO 12866 Meetings | Printer-Friendly Version Download RIN Data in XML |
ED/OPE | RIN: 1840-AD69 | Publication ID: Fall 2021 |
Title: Income Contingent Repayment | |
Abstract:
Using the income-contingent repayment (ICR) authority under the Higher Education Act of 1965, the Secretary of Education may create or adjust income-driven repayment plans to cap borrower payments at a set share of their income. The Department will propose improvements to these plans in 34 CFR part 685. |
|
Agency: Department of Education(ED) | Priority: Economically Significant |
RIN Status: Previously published in the Unified Agenda | Agenda Stage of Rulemaking: Proposed Rule Stage |
Major: Yes | Unfunded Mandates: No |
CFR Citation: 34 CFR 685 | |
Legal Authority: 20 U.S.C. 1087e |
Legal Deadline:
None |
|||||||||
Statement of Need: This rulemaking is necessary to make improvements to the income- driven repayment plans created under the ICR authority in Higher Education Act of 1965 that allows the Secretary to cap payments at a set share of a borrower’s income. |
|||||||||
Summary of the Legal Basis: The Department is conducting this rulemaking under 20 U.S.C. 1087e. |
|||||||||
Alternatives: We have limited information about the alternatives at this time. |
|||||||||
Anticipated Costs and Benefits: We have limited information about the anticipated costs and benefits at this time. |
|||||||||
Risks: We have limited information about the risks at this time. |
|||||||||
Timetable:
|
Regulatory Flexibility Analysis Required: Undetermined | Government Levels Affected: Undetermined |
Federalism: Undetermined | |
Included in the Regulatory Plan: Yes | |
RIN Data Printed in the FR: No | |
Agency Contact: Jennifer Hong Director, Policy Coordination Group Department of Education 400 Maryland Avenue SW, Room 287-23, Washington, DC 20202 Phone:202 453-7805 Email: jennifer.hong@ed.gov |