Loan benefits

Candidates sought for the Student Loan Repayment and Remission Rules Development Committee

Education Act

Candidates sought for the Student Loan Repayment and Remission Rules Development Committee

The US Department of Education announced on Friday that it would create a negotiated rule-making committee to rewrite student loan regulations and seek nominations for negotiators, advisers and members of the subcommittee.

According to a press release, the committee will negotiate issues such as defending borrowers against repayment, cancellation of civil service loans, repayment based on income, exiting closed schools and exits from total disability. and permanent. Virtual meetings are expected to take place between October and December.

The notice does not mention the general discharge of the student loan. Since March 2020, the DOE has suspended federal loan payments due to the coronavirus pandemic. This should last at least until the end of September, according to the DOE’s financial aid department website.

“This rule-making committee will do the important work of improving borrowers’ access to the benefits that reduce the burden of federal student loans, including targeted discharges.” We look forward to convening the committee and remain committed to the mission of better serving students and borrowers in our country, ”Education Secretary Miguel Cardona said in the press release.

Nominations for a committee, subcommittee or advisers should be sent by email to [email protected] According to the press release, the DOE is “particularly interested” in nominations from low-income or historically underserved communities.

In June, the ABA called on the Biden administration to take action to ease the student loan debt burden, including suspending or forgiving some of the debt.

ABA President Patricia Lee Refo said in a June 8 letter that the association appreciates Congress’ efforts to resolve the issue.

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