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GAO-14-383R 1 (2014-02-24)

handle is hein.gao/gaobadqcs0001 and id is 1 raw text is: GAO U.S. GOVERNMENT ACCOUNTABILITY OFFICE 441 G St. N.W. Washington, DC 20548 B-325546 February 24, 2014 The Honorable Tom Harkin Chairman The Honorable Lamar Alexander Ranking Member Committee on Health, Education, Labor, and Pensions United States Senate The Honorable John Kline Chairman The Honorable George Miller Ranking Member Committee on Education and the Workforce House of Representatives Subject: Department of Education: William D. Ford Federal Direct Loan Program Pursuant to section 801 (a)(2)(A) of title 5, United States Code, this is our report on a major rule promulgated by the Department of Education (Education) entitled William D. Ford Federal Direct Loan Program (RIN: 1840-AD13). We received the rule on February 7, 2014. It was published in the Federal Register as final regulations on January 17, 2014. 79 Fed. Reg. 3108. The final rule amends the regulations governing the William D. Ford Federal Direct Loan Program to implement the Moving Ahead for Progress in the 21st Century Act, which amended the Higher Education Act of 1965. Specifically, this final rule makes certain modifications to an interim final rule (IFR) published by Education in May 2013.1 Among other changes, this final rule modifies the rounding rule for borrowers' subsidized usage periods, modifies the calculation of the subsidized usage period for certain borrowers enrolled on a part-time basis, and modifies the calculation of the maximum eligibility period for 2-year baccalaureate degree programs. The Congressional Review Act (CRA) requires a 60-day delay in the effective date of a major rule from the date of publication in the Federal Register or receipt of the rule by Congress, whichever is later. 5 U.S.C. § 801(a)(3)(A). This final rule was published in the Federal Register on January 17, 2014, received by the Senate on February 7, 2014, and received by the House of Representatives on February 10, 2014. 79 Fed. Reg. 3108; 159 Cong. Rec. S947 (Feb. 12, 2014); 159 Cong. Rec. H1776 (Feb. 14, 2014). The rule has a stated effective date of March 18, 2014. Therefore, this final rule does not have the required 60-day delay in effective date under CRA. 1 78 Fed. Reg. 28,954 (May 16, 2013). As a major rule, the IFR was also subject to GAO's reporting obligation under CRA. GAO, Department of Education: William D. Ford Federal Direct Loan Program, GAO-1 3-726R (Washington, D.C.: July 1, 2013). GAO-14-383R

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