March 27, 2008
Additional Session Added to Negotiated Rulemaking
The third negotiated rulemaking meeting concluded the week of March 3, 2008. Although that meeting was intended to be the last, a fourth and final session has been scheduled for April 14-15 to address remaining outstanding issues on which negotiators were unable to reach consensus, including:
- Special allowance payment (SAP) calculation for loans in Income-Based Repayment (IBR).
- Effective date for counting payments as eligible payments for purposes of loan forgiveness under IBR and public service loan forgiveness.
- Elimination of the debt-to-income ratio calculation for purposes of determining eligibility for an Economic Hardship deferment.
- Definitions for:
- Not-for-profit lender
- Qualified employment (public service loan forgiveness)
- Directly employed
- Public interest law services