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NASFAA Summary of Loan Issues Final Rules: ICR, IBR and Total and Permanent Disability Discharge(2)

4 November 2012 33 views No Comment

The Department of Education on Nov. 1 published final rules on Income-Based Repayment (IBR), Income-Contingent Repayment (ICR), and Total and Permanent Disability Discharge. The final rules contain several significant changes from the Notice of Proposed Rulemaking (NPRM) released in the summer, notably a renaming of the new ICR plan and acceptance of certain Social Security Administration (SSA) determinations of total and permanent disability (TPD) for purposes of Title IV loan discharges.

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