income driven repayment Archives - Americans for Financial Reform

Letters to Regulators: Letter to ED on IDR Proposed Rulemaking

AFREF joined a letter to the Dept. of Education applauding the Department for the significant positive impact its proposed changes to the IDR rules could have on student loan borrowers. The proposed rule has the ability to substantially reduce monthly and lifetime payments for millions of borrowers, raise the threshold for protected non-discretionary income, lower the share of discretionary income borrowers have to pay, waive unpaid interest, and decrease time to cancellation.

classroom with students and a student with a backpack standing up with papers - Photo by javier trueba on Unsplash

Letters to the Administration: Letter Asking President Biden to Extend and Expand Access to PSLF and IDR Waiver

AFFEF joined a letter urging President Biden to extend, expand, and coordinate more closely the current Public Service Loan Forgiveness waiver and Income-Driven Repayment Adjustment in order to fulfill the promise of affordable and manageable loan repayment for borrowers.

Letter to Regulators: AFR, 71 Orgs Submit Comment on proposed student loan “Payback Playbook”

“We commend the agencies for their work in compiling this series of potential borrower communications – the
Student Loan Payback Playbooks. It benefits borrowers, servicers, and the agencies to ensure that
federal student loan borrowers are aware of options that will make their student loan payments
affordable and allow them to remain current on their loans.”