PENN HILL GROUP’S WRAP UP – OCTOBER 14, 2024

CONGRESS

The House and Senate are not scheduled to conduct legislative business until after the November election with both chambers returning on November 12.

ADMINISTRATION

The U.S. Department of Education (ED) restored online access to its income-driven repayment (IDR) application after online access was halted due to Saving on a Valuable Education Act (SAVE) plan court injunctions.

ED submitted a new interim final rule filing to the Office of Information and Regulatory Affairs titled “Income-Contingent Repayment Plan Options.”

POLITICO reported that the Biden Administration postponed involuntary collection measures, such as wage garnishment, until 2025 for borrowers with Federal student loans in default.

The U.S. Government Accountability Office released a report titled “Federal Student Loans: How Education Has Communicated with Borrowers About Resuming Payments.” This report details the various methods ED used to communicate with borrowers about resuming their student loan payments in October 2023.

ED announced a list of 200 institutions that are eligible to apply for the Postsecondary Success Recognition Program.

ED highlighted resources to support communities affected by hurricanes Helene and Milton.