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ED/OPE

RIN: 1840-AD81

Publication ID: Fall 2022

Title: ●Improving Income Driven Repayment
Abstract: The Secretary plans to propose amendments to the regulations governing income-contingent repayment plans by amending the Revised Pay as You Earn (REPAYE) repayment plan, and to restructure and rename the repayment plan regulations under the William D. Ford Federal Direct Loan (Direct Loan) Program, including combining the Income Contingent Repayment (ICR) and the Income-Based Repayment (IBR) plans under the umbrella term of Income-Driven Repayment (IDR) plans.
Agency: Department of Education(ED)	Priority: Economically Significant
RIN Status: First time 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. 1070g 20 U.S.C. 1087a, et seq.

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:

20 U.S.C. 1070g, 1087a, et seq., unless otherwise noted.

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:

Action	Date	FR Cite
Notice of Intent to Commence Negotiated Rulemaking	05/26/2021	86 FR 28299
NPRM	12/00/2022

Regulatory Flexibility Analysis Required: No	Government Levels Affected: None
Small Entities Affected: No	Federalism: No
Included in the Regulatory Plan: Yes
RIN Data Printed in the FR: No
Agency Contact: Tamy Abernathy Department of Education Office of Postsecondary Education 400 Maryland Avenue SW, 2C-232, Washington, DC 20202 Phone:202 987-0385 Email: tamy.abernathy@ed.gov