Final Rules Make Changes to 150% Limit on Direct Loan Subsidies
The final regulations regarding the 150 percent limit on eligibility for Direct Loan subsidies, published last Friday by the Department of Education (ED), amend the interim final rule that had been published on May 16, 2013. The interim final rule implemented the 150 percent limit imposed by the Moving Ahead for Progress in the 21st Century Act (MAP–21), Public Law 112–141. Although the law had waived negotiated rulemaking for this provision, ED invited comment on the interim rule. The regulations published on Friday include responses to comments that were submitted by 14 parties, including NASFAA.