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ED/OPE RIN: 1840-AD81 Publication ID: Fall 2023 
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: Section 3(f)(1) Significant 
RIN Status: Previously published in the Unified Agenda Agenda Stage of Rulemaking: Completed Actions 
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 the 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  01/11/2023  88 FR 1894   
NPRM Comment Period End  02/10/2023 
Final Action  07/10/2023  88 FR 43820   
Final Action Effective  07/01/2024 
Regulatory Flexibility Analysis Required: No  Government Levels Affected: None 
Small Entities Affected: Businesses  Federalism: No 
Included in the Regulatory Plan: Yes 
Public Comment URL: www.regulations.gov  
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