Publication Date: January 14, 2015

Posted Date: January 14, 2015

Subject: Notice: Early Implementation of PLUS Loan Adverse Credit Regulation

FR Type: Notice

Notice: Early Implementation of PLUS Loan Adverse Credit Regulation in PDF Format, 217KB, 2 Pages


[Federal Register Volume 80, Number 9 (Wednesday, January 14, 2015)]
[Rules and Regulations]
[Pages 1848-1849]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2015-00462]

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DEPARTMENT OF EDUCATION

34 CFR Part 685

[Docket ID ED-2014-OPE-0082]
RIN 1840-AD17

William D. Ford Federal Direct Loan Program

AGENCY: Office of Postsecondary Education, Department of Education.

ACTION: Announcement of early implementation date.

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SUMMARY: The U.S. Department of Education (Department) is establishing 
the date for early implementation of the William D. Ford Federal Direct 
Loan (Direct Loan) Program regulations that update the standard for 
determining if a potential parent or student borrower has an adverse 
credit history for purposes of eligibility for a Direct PLUS Loan (PLUS 
loan). These regulations also require parents and students who have an 
adverse credit history, but who are approved for a PLUS loan on the 
basis that extenuating circumstances exist or by obtaining an endorser 
for the PLUS loan, to receive loan counseling before receiving the PLUS 
loan.

DATES: The early implementation date for Sec.  685.200(b)(5) and (c), 
published in the Federal Register on October 23, 2014 (79 FR 63317), is 
March 29, 2015.

FOR FURTHER INFORMATION CONTACT: For information about the Direct PLUS 
Loan Program or how to apply for a Direct PLUS Loan, call the Federal 
Student Aid Information Center (FSAIC) at 1-800-4FEDAID (1-800-433-
3243). For information regarding the establishment of this early 
implementation date, contact Sue O'Flaherty, U.S. Department of 
Education, Federal Student Aid, 830 First Street NE., Union Center 
Plaza, Room 64E1, Washington, DC 20202-5345. Telephone: (202) 377-3393 
or by email at: sue.oflaherty@ed.gov.
    If you use a telecommunications device for the deaf (TDD) or a text 
telephone (TTY), call the Federal Relay Service (FRS), toll free, at 1-
800-877-8339.
 

Attachments/Enclosures:

Notice: Early Implementation of PLUS Loan Adverse Credit Regulation in PDF Format, 217KB, 2 Pages

   

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