On Oct. 27, 2015, the Department of Education issued a final regulation establishing a new income-driven repayment plan, the Revised Pay As You Earn (REPAYE) Plan. The REPAYE Plan will be available to borrowers starting in mid-December 2015. Let’s take…
On December 19, 2014, the Department published a notice in the Federal Register announcing a “negotiated rulemaking committee to: (1) prepare proposed regulations to establish a new Pay as You Earn repayment plan for those not covered by the existing…
Looks like the Department of Education is paving the road to Pay As You Earn (PAYE) expansion. The ED has announced its intent to establish a negotiated rulemaking committee (http://www.regulations.gov/#!documentDetail;D=ED-2014-OPE-0124-0001). The Summary/TL;DR As you can remember, Obama’s Presidential Memorandum issued…
White House Fact Sheet on the Proposal (see text below): http://www.whitehouse.gov/the-press-office/2014/06/09/factsheet-making-student-loans-more-affordable Presidential Memorandum (see text below): http://www.whitehouse.gov/the-press-office/2014/06/09/presidential-memorandum-federal-student-loan-repayments VIDEO (see transcript below): http://www.whitehouse.gov/photos-and-video/video/2014/06/09/president-obama-speaks-student-loan-debt FACTSHEET: Making Student Loans More Affordable President Obama declared 2014 a year of action – vowing to use…
UPDATE (June 9, 2014): http://www.holdfasttodreams.org/obamas-monday-june-9-2014-announcement/ When’s the announcement? Monday, June 9, 2014 at a 1:45 p.m. event. Remarks of President Barack Obama from The White House Weekly Address (June 7, 2014) “I’ve taken action on my own to offer millions…
UPDATE (April 5, 2014): See our new post “The U.S. Department of Education (ED) Official Statements on Obama’s 2015 Proposed Budget: Impact on Public Service Loan Forgiveness (PSLF)”: http://www.holdfasttodreams.org/?p=494 Obama’s 2015 Proposed Budget includes new limits on how much debt…