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[Federal Register Volume 80, Number 9 (Wednesday, January 14, 2015)]
[Rules and Regulations]
[Pages 1848-1849]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2015-00462]

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DEPARTMENT OF EDUCATION

34 CFR Part 685

[Docket ID ED-2014-OPE-0082]
RIN 1840-AD17

William D. Ford Federal Direct Loan Program

AGENCY: Office of Postsecondary Education, Department of Education.

ACTION: Announcement of early implementation date.

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SUMMARY: The U.S. Department of Education (Department) is establishing 
the date for early implementation of the William D. Ford Federal Direct 
Loan (Direct Loan) Program regulations that update the standard for 
determining if a potential parent or student borrower has an adverse 
credit history for purposes of eligibility for a Direct PLUS Loan (PLUS 
loan). These regulations also require parents and students who have an 
adverse credit history, but who are approved for a PLUS loan on the 
basis that extenuating circumstances exist or by obtaining an endorser 
for the PLUS loan, to receive loan counseling before receiving the PLUS 
loan.

DATES: The early implementation date for Sec.  685.200(b)(5) and (c), 
published in the Federal Register on October 23, 2014 (79 FR 63317), is 
March 29, 2015.

FOR FURTHER INFORMATION CONTACT: For information about the Direct PLUS 
Loan Program or how to apply for a Direct PLUS Loan, call the Federal 
Student Aid Information Center (FSAIC) at 1-800-4FEDAID (1-800-433-
3243). For information regarding the establishment of this early 
implementation date, contact Sue O'Flaherty, U.S. Department of 
Education, Federal Student Aid, 830 First Street NE., Union Center 
Plaza, Room 64E1, Washington, DC 20202-5345. Telephone: (202) 377-3393 
or by email at: sue.oflaherty@ed.gov.
    If you use a telecommunications device for the deaf (TDD) or a text 
telephone (TTY), call the Federal Relay Service (FRS), toll free, at 1-
800-877-8339.

SUPPLEMENTARY INFORMATION:

Background

    Section 482(c) of the Higher Education Act of 1965, as amended 
(HEA), requires that regulations affecting programs under title IV of 
the HEA be published in final form by November 1 prior to the start of 
the award year (July 1) to which they apply. However, that section of 
the HEA also permits the Secretary to designate any regulation as one 
that an entity subject to the regulations may choose to

[[Page 1849]]

implement earlier, and to specify the conditions for early 
implementation.
    On October 23, 2014, the Department issued final regulations in 34 
CFR part 685 for the PLUS Loan Program (79 FR 63317). In the preamble 
to the final regulations, the Secretary announced the Department's 
intent to implement the new Direct PLUS Loan Program regulations as 
soon as possible.

Implementation Date of These Regulations

    The Secretary is exercising the authority under section 482(c) of 
the HEA to designate the following amended regulations in 34 CFR part 
685 for early implementation beginning on March 29, 2015:
    (1) Section 685.200(b)(5); and
    (2) Section 685.200(c).
    The Secretary will implement the provisions in 34 CFR 685.200(b)(5) 
and 34 CFR 685.200(c) for student and parent PLUS loan applicants 
beginning on March 29, 2015, as part of the Department's Common 
Origination and Disbursement (COD) System new award year release. For 
all PLUS Loan credit checks conducted on or after March 29, 2015, the 
Secretary will use the standards established in the final regulations 
published on October 23, 2014, to determine if an adverse credit 
history exists. In addition, the Secretary will make PLUS Loan 
counseling available to borrowers who are determined to have adverse 
credit histories on or after March 29, 2015, but who qualify for a PLUS 
Loan due to extenuating circumstances or by obtaining an endorser. 
Finally, while required only for certain PLUS Loan applicants, the new 
PLUS Loan counseling will be available for all PLUS Loan borrowers, 
beginning on March 29, 2015.
    Accessible Format: Individuals with disabilities can obtain this 
document in an accessible format (e.g., braille, large print, 
audiotape, or compact disc) on request to the contact person listed 
under FOR FURTHER INFORMATION CONTACT.
    Electronic Access to This Document: The official version of this 
document is the document published in the Federal Register. Free 
Internet access to the official edition of the Federal Register and the 
Code of Federal Regulations is available via the Federal Digital System 
at: www.gpo.gov/fdsys. At this site you can view this document, as well 
as all other documents of this Department published in the Federal 
Register, in text or Adobe Portable Document Format (PDF). To use PDF 
you must have Adobe Acrobat Reader, which is available free at the 
site.
    You may also access documents of the Department published in the 
Federal Register by using the article search feature at: 
www.federalregister.gov. Specifically, through the advanced search 
feature at this site, you can limit your search to documents published 
by the Department.

(Catalog of Federal Domestic Assistance Number does not apply.)

    Dated: January 9, 2015.
Arne Duncan,
Secretary of Education.
[FR Doc. 2015-00462 Filed 1-13-15; 8:45 am]
BILLING CODE 4000-01-P
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