Agency Information Collection Activities for Income Driven Repayment Plan Request
AI-generated summary for informational purposes only. Not legal advice. See the original source for the authoritative text.
The law revises the information collection forms for Income Driven Repayment Plans to reflect changes from the One Big Beautiful Bill Act and recent court decisions. The updates include removing outdated repayment options and adding the Repayment Assistance Plan. It's essential for individuals with federal student loans, as this could alter their payment plans starting July 2026.
AI-generated summary. May contain errors. Refer to official sources for legal decisions.
Key Changes
- Revises forms to remove outdated repayment plans
- Adds the Repayment Assistance Plan
- Updates to improve borrower information and experience
Obligations
What this law requires
Individuals with federal student loans must submit comments regarding the proposed revision of the Income Driven Repayment Plan Request by June 22, 2026.
The Department of Education must update the Income Driven Repayment Request Form to include the Repayment Assistance Plan and revise related questions about family size before July 1, 2026.
The Department of Education must provide notice on the updated form that the Pay As You Earn (PAYE) and Income-Contingent Repayment (ICR) plans will be sunset by July 1, 2028.
The Federal Student Aid (FSA) must ensure the timely processing of information collected from the Income Driven Repayment Plan Requests as specified in the updates.