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B-334755 Nov 16, 2022 1 (2022-11-16)

handle is hein.gao/gaonxa0001 and id is 1 raw text is: U.S. GOVERNMENT ACCOUNTABILITY OFFICE 441 G St. N.W. Washington, DC 20548 B-334755 November 16, 2022 The Honorable Patty Murray Chairwoman The Honorable Richard Burr Ranking Member Committee on Health, Education, Labor, and Pensions United States Senate The Honorable Bobby Scott Chairman The Honorable Virginia Foxx Ranking Member Committee on Education and Labor House of Representatives Subject: Department of Education: Institutional Eligibility Under the Higher Education Act of 1965, as Amended; Student Assistance General Provisions; Federal Perkins Loan Program; Federal Family Education Loan Program; and 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 (ED) entitled Institutional Eligibility Under the Higher Education Act of 1965, as Amended; Student Assistance General Provisions; Federal Perkins Loan Program; Federal Family Education Loan Program; and William D. Ford Federal Direct Loan Program (RINs: 1840-AD53, 1840-AD59, 1840-AD70, 1840-AD71). We received the rule on November 1, 2022. It was published in the Federal Register as final regulations on November 1, 2022. 87 Fed. Reg. 65094. The effective date is July 1, 2023. According to ED, this final rule establishes new regulations governing the William D. Ford Federal Direct Loan (Direct Loan) Program to establish a new federal standard and a process for determining whether a borrower has a defense to repayment on a loan based on an act or omission of their school. ED stated that the rule amends the Direct Loan Program regulations to prohibit participating schools from using certain contractual provisions regarding dispute resolution processes and to require certain notifications and disclosures by institutions or schools regarding their use of mandatory arbitration. Additionally, ED indicated that the rule amends the Direct Loan regulations to eliminate interest capitalization in instances where it is not required by statute. ED expressed that the rule also amends the regulations governing closed school discharges and total and permanent disability discharges in the Federal Perkins Loan, Direct Loan, and Federal Family Education Loan (FFEL) programs. ED stated that the rule amends the regulations governing false certification discharges in the Direct Loan and FFEL programs. Finally, as reported by ED, the rule amends the regulations governing Public Service Loan Forgiveness in the Direct Loan program to improve the application process, and to clarify and expand definitions for full-time employment, qualifying employers, and qualifying

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