06/13/2007
(original message posted via email)
OGSLP Legislative Update
Official Notice of Proposed Rulemaking Published
The Department of Education released the official notice of proposed rulemaking (NPRM) on student loan issues in the June 12, 2007, Federal Register. The NPRM provides for a 60-day comment period which means the deadline date for comments is August 13, 2007.
The negotiated rulemaking process brings together representatives from various interest groups and a federal agency to negotiate and reach consensus on the text of a proposed rule. The final negotiated rulemaking session on student loan issues ended without consensus after the Department of Education indicated their inability to make any substantial changes to preferred lender lists, prohibited inducements and some Perkins Loan issues. Because consensus was not reached, the Department of Education, is not required to adhere to any of the tentatively agreed upon language from the negotiated rulemaking process.
Links to the NPRM and related information are provided below and can also be found on OGSLP's Legislation Page:
• NPRM
• NCHELP's 2007 HEA Legislation page - NCHELP's Integrated Regulations for 34 CFR 682 and 34 CFR 685 reflecting the NPRM (if accepted with no changes)
We encourage you to let your voice be heard by responding to the Department of Education regarding this important set of proposals. OGSLP will continue to work with other industry participants to review the impact of the proposals. We will keep you updated.
If you have questions, please contact the Policy, Compliance, and Training department at 405.234.4432 or pct@ogslp.org.
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Communications
OGSLP
P.O. Box 3000
Oklahoma City, OK 73101-3000
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