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U.S. Department of Education Releases Interim Final Rule on ICR/PAYE
November 18, 2024
The U.S. Department of Education has posted an interim final rule to amend the regulations governing income contingent repayment (ICR) plans available to Federal student loan borrowers.
The rule revises the end date for most borrowers to enroll in ICR or Pay as You Earn (PAYE) plans from July 1, 2024, to July 1, 2027. The interim rule is slated for early implementation effective 30 days from publication. This date reflects when the Department of Education anticipates being ready to process borrower applications for these plans.
You can read more and learn how to submit a public comment in the Federal Register (Trusted Partner Link).
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