82_FR_49359 82 FR 49155 - Student Assistance General Provisions, Federal Perkins Loan Program, Federal Family Education Loan Program, William D. Ford Federal Direct Loan Program, and Teacher Education Assistance for College and Higher Education Grant Program

82 FR 49155 - Student Assistance General Provisions, Federal Perkins Loan Program, Federal Family Education Loan Program, William D. Ford Federal Direct Loan Program, and Teacher Education Assistance for College and Higher Education Grant Program

DEPARTMENT OF EDUCATION

Federal Register Volume 82, Issue 204 (October 24, 2017)

Page Range49155-49160
FR Document2017-22850

The Secretary proposes to further delay, until July 1, 2019, the effective date of selected provisions of the final regulations entitled Student Assistance General Provisions, Federal Perkins Loan Program, Federal Family Education Loan (FFEL) Program, William D. Ford Federal Direct Loan Program, and Teacher Education Assistance for College and Higher Education Grant Program (the final regulations), published in the Federal Register on November 1, 2016. The Secretary proposes this further delay to ensure that there is adequate time to conduct negotiated rulemaking and, as necessary, develop revised regulations. The provisions for which we propose to further delay the effective date are listed in the SUPPLEMENTARY INFORMATION section of this document. The current effective date of selected provisions of the final regulations is July 1, 2018, in accordance with the interim final rule (IFR) published elsewhere in this issue of the Federal Register.

Federal Register, Volume 82 Issue 204 (Tuesday, October 24, 2017)
[Federal Register Volume 82, Number 204 (Tuesday, October 24, 2017)]
[Proposed Rules]
[Pages 49155-49160]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2017-22850]


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DEPARTMENT OF EDUCATION

34 CFR Parts 668, 674, 682, and 685

[Docket ID ED-2017-OPE-0112]
RIN 1840-AD28


Student Assistance General Provisions, Federal Perkins Loan 
Program, Federal Family Education Loan Program, William D. Ford Federal 
Direct Loan Program, and Teacher Education Assistance for College and 
Higher Education Grant Program

AGENCY: Office of Postsecondary Education, Department of Education.

ACTION: Notice of proposed rulemaking.

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SUMMARY: The Secretary proposes to further delay, until July 1, 2019, 
the effective date of selected provisions of the final regulations 
entitled Student Assistance General Provisions, Federal Perkins Loan 
Program, Federal Family Education Loan (FFEL) Program, William D. Ford 
Federal Direct Loan Program, and Teacher Education Assistance for 
College and Higher Education Grant Program (the final regulations), 
published in the Federal Register on November 1, 2016. The Secretary 
proposes this further delay to ensure that there is adequate time to 
conduct negotiated rulemaking and, as necessary, develop revised 
regulations. The provisions for which we propose to further delay the 
effective date are listed in the SUPPLEMENTARY INFORMATION section of 
this document. The current effective date of selected provisions of the 
final regulations is July 1, 2018, in accordance with the interim final 
rule (IFR) published elsewhere in this issue of the Federal Register.

DATES: We must receive your comments on or before November 24, 2017.

ADDRESSES: Submit your comments through the Federal eRulemaking Portal 
or via postal mail, commercial delivery, or hand delivery. We will not 
accept comments submitted by fax or by email or those submitted after 
the comment period. To ensure that we do not receive duplicate copies, 
please submit your comments only once. In addition, please include the 
Docket ID at the top of your comments.
    If you are submitting comments electronically, we strongly 
encourage you to submit any comments or attachments in Microsoft Word 
format. If you must submit a comment in Portable Document Format (PDF), 
we strongly encourage you to convert the PDF to print-to-PDF format or 
to use some other commonly used searchable text format. Please do not 
submit the PDF in a scanned format. Using a print-to-PDF format allows 
the Department to electronically search and copy certain portions of 
your submissions.
     Federal eRulemaking Portal: Go to www.regulations.gov to 
submit your comments electronically. Information on using 
Regulations.gov, including instructions for accessing agency documents, 
submitting comments, and viewing the docket, is available on the site 
under ``Help.''
     Postal Mail, Commercial Delivery, or Hand Delivery: The 
Department strongly encourages commenters to submit their comments 
electronically. However, if you mail or deliver your comments about the 
notice of proposed rulemaking, address them to Jean-Didier Gaina, U.S. 
Department of Education, 400 Maryland Ave. SW., Mail Stop 6W248, 
Washington, DC 20202.
    Privacy Note: The Department's policy is to make all comments 
received from members of the public available for public viewing on the 
Federal eRulemaking Portal at www.regulations.gov. Therefore, 
commenters should be careful to include in their comments only 
information that they wish to make publicly available.

FOR FURTHER INFORMATION CONTACT: Barbara Hoblitzell, U.S. Department of 
Education, 400 Maryland Ave. SW., Mail Stop 6W248, Washington, DC 
20202. Telephone: (202) 453-7583 or by email at: 
[email protected].
    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: 
    Invitation To Comment: We invite you to submit comments regarding 
this notice of proposed rulemaking. We will consider comments on the 
further delayed effective date only and will not consider comments on 
the wording or substance of the final regulations. See

[[Page 49156]]

ADDRESSES for instructions on how to submit comments.
    During and after the comment period, you may inspect all public 
comments about this notice of proposed rulemaking by accessing 
Regulations.gov. You may also inspect the comments in person in room 
6W245, 400 Maryland Avenue SW., Washington, DC, between 8:30 a.m. and 
4:00 p.m. Washington, DC time, Monday through Friday of each week, 
except Federal holidays. If you want to schedule time to inspect 
comments, please contact the person listed under FOR FURTHER 
INFORMATION CONTACT.
    Assistance to Individuals With Disabilities in Reviewing the 
Rulemaking Record: On request, we will provide an appropriate 
accommodation or auxiliary aid to an individual with a disability who 
needs assistance to review the comments or other documents in the 
public-rulemaking record for this notice of proposed rulemaking. If you 
want to schedule an appointment for this type of accommodation or 
auxiliary aid, please contact the person listed under FOR FURTHER 
INFORMATION CONTACT.
    Elsewhere in this issue of the Federal Register, the Department is 
publishing an IFR delaying until July 1, 2018, the effective date of 
selected provisions of the final regulations. The original effective 
date of the final regulations published November 1, 2016 (81 FR 75926) 
was July 1, 2017. On June 16, 2017, the Department published in the 
Federal Register a notification of the partial delay of effective dates 
under section 705 of the Administrative Procedure Act (5 U.S.C. 705) 
(82 FR 27621) (705 Notice), to delay the effectiveness of certain 
provisions of the final regulations until a legal challenge by the 
California Association of Private Postsecondary Schools is resolved. 
See Complaint and Prayer for Declaratory and Injunctive Relief, 
California Association of Private Postsecondary Schools v. DeVos, Civil 
Action No. 1:17-cv-00999 (D.D.C. May 24, 2017). As explained in the 
IFR, because the final regulations have been postponed by the 705 
Notice beyond July 1, 2017, they must become effective no earlier than 
July 1, 2018, to comply with section 482 of the Higher Education Act of 
1965, as amended (HEA) (20 U.S.C. 1089), also known as the ``master 
calendar requirement.''
    Also on June 16, 2017, the Department announced its intent to 
convene a committee to develop proposed regulations to revise the 
regulations on borrower defense to repayment of Federal student loans 
and other matters. Given that the first negotiated rulemaking session 
is scheduled for November 13-15, 2017, we cannot complete the 
negotiated rulemaking process and the development of revised 
regulations by November 1, 2018. Under the master calendar, a 
regulatory change that has been published in final form on or before 
November 1 prior to the start of an award year--which begins on July 1 
of any given year--may take effect only at the beginning of the next 
award year, or in other words, on July 1 of the next year. In light of 
this requirement, the regulations resulting from negotiated rulemaking 
could not be effective before July 1, 2019.
    As noted previously, elsewhere in this issue of the Federal 
Register, the Department is publishing an IFR delaying the effective 
date of the final regulations until July 1, 2018. The Department could 
implement the final regulations on July 1, 2018, pursuant to the IFR, 
or, through notice and comment rulemaking, we could delay the effective 
date until July 1, 2019, or a future July 1. We propose to further 
delay the effective date of the final regulations, to continue to 
preserve the regulatory status quo, until July 1, 2019. The Department 
would continue to process borrower defense claims under the existing 
regulations that will remain in effect during the delay so that 
borrowers may continue to apply for the discharge of all or a part of 
their loans.
    Based on the above considerations, the Department is proposing to 
delay until July 1, 2019, the effective date of the following 
provisions of the final regulations in title 34 of the Code of Federal 
Regulations (CFR):
     Sec.  668.14(b)(30), (31), and (32) Program participation 
agreement.
     Sec.  668.41(h) and (i) Reporting and disclosure of 
information.
     Sec.  668.71(c) Scope and special definitions.
     Sec.  668.90(a)(3) Initial and final decisions.
     Sec.  668.93(h), (i), and (j) Limitation.
     Sec.  668.171 General.
     Sec.  668.175(c), (d), (f), and (h) Alternative standards 
and requirements.
     Part 668 subpart L, Appendix C.
     Sec.  674.33(g)(3) and (g)(8) Repayment.
     Sec.  682.202(b)(1) Permissible charges by lenders to 
borrowers.
     Sec.  682.211(i)(7) Forbearance.
     Sec.  682.402(d)(3), (d)(6)(ii)(B)(1) and (2), 
(d)(6)(ii)(F) introductory text, (d)(6)(ii)(F)(5), (d)(6)(ii)(G), 
(d)(6)(ii)(H) through (K), (d)(7)(ii) and (iii), (d)(8), and 
(e)(6)(iii) Death, disability, closed school, false certification, 
unpaid refunds, and bankruptcy payments.
     Sec.  682.405(b)(4)(ii) Loan rehabilitation agreement.
     Sec.  682.410(b)(4) and (b)(6)(viii) Fiscal, 
administrative, and enforcement requirements.
     Sec.  685.200(f)(3)(v) and (f)(4)(iii) Borrower 
eligibility.
     Sec.  685.205(b)(6) Forbearance.
     Sec.  685.206(c) Borrower responsibilities and defenses.
     Sec.  685.212(k) Discharge of a loan obligation.
     Sec.  685.214(c)(2) and (f)(4) through (7) Closed school 
discharge.
     Sec.  685.215(a)(1), (c)(1) through (c)(8), and (d) 
Discharge for false certification of student eligibility or 
unauthorized payment.
     Sec.  685.222 Borrower defenses.
     Part 685 subpart B, Appendix A Examples of borrower 
relief.
     Sec.  685.300(b)(11), (b)(12), and (d) through (i) 
Agreements between an eligible school and the Secretary for 
participation in the Direct Loan Program.
     Sec.  685.308(a) Remedial actions.
    As noted in the IFR, the Department interprets all references to 
``July 1, 2017'' in the text of the above-referenced regulations to 
mean the effective date of those regulations. The regulatory text 
included references to the specific July 1, 2017, date in part to 
provide clarity to readers in the future as to when the regulations had 
taken effect. Because the regulations did not take effect on July 1, 
2017, we would, in connection with this proposed additional delay of 
effective date, read those regulations as referring to the new 
effective date established by this further delay, i.e., July 1, 2019.
    This proposed delay of the final regulations will not delay the 
effective dates of the following regulatory provisions published in 81 
FR 75926 which: (1) Expand the types of documentation that may be used 
for the granting of a discharge based on the death of the borrower; (2) 
amend the regulations governing the consolidation of Nursing Student 
Loans and Nurse Faculty Loans so that they align with the statutory 
requirements of section 428C(a)(4)(E) of the HEA; (3) amend the 
regulations governing Direct Consolidation Loans to allow a borrower to 
obtain a Direct Consolidation Loan regardless of whether the borrower 
is also seeking to consolidate a Direct Loan Program or FFEL Program 
loan, if the borrower has a loan type identified in 34 CFR 685.220(b); 
(4) address severability; and (5) make technical corrections. As 
established in 81 FR 75926, 34 CFR 682.211(i)(7) and 
682.410(b)(6)(viii) would remain designated for early implementation, 
at the discretion of each lender or guaranty agency.

[[Page 49157]]

    Waiver of Negotiated Rulemaking: Under section 492 of the HEA (20 
U.S.C. 1098a), all regulations proposed by the Department for programs 
authorized under title IV of the HEA are subject to negotiated 
rulemaking requirements. However, section 492(b)(2) of the HEA provides 
that negotiated rulemaking may be waived for good cause when doing so 
would be ``impracticable, unnecessary, or contrary to the public 
interest.'' Section 492(b)(2) of the HEA also requires the Secretary to 
publish the basis for waiving negotiations in the Federal Register at 
the same time as the proposed regulations in question are first 
published.
    For the reasons stated above, it would not be practicable, before 
the July 1, 2018 effective date specified in the IFR, to engage in 
negotiated rulemaking and publish final regulations. There is, 
therefore, good cause to waive negotiated rulemaking pertaining to this 
delay.

Executive Orders 12866, 13563, and 13771

Regulatory Impact Analysis

    Under Executive Order 12866, it must be determined whether this 
regulatory action is ``significant'' and, therefore, subject to the 
requirements of the Executive Order and subject to review by the Office 
of Management and Budget (OMB). Section 3(f) of Executive Order 12866 
defines a ``significant regulatory action'' as an action likely to 
result in a rule that may--
    (1) Have an annual effect on the economy of $100 million or more, 
or adversely affect a sector of the economy, productivity, competition, 
jobs, the environment, public health or safety, or State, local, or 
Tribal governments or communities in a material way (also referred to 
as an ``economically significant'' rule);
    (2) Create serious inconsistency or otherwise interfere with an 
action taken or planned by another agency;
    (3) Materially alter the budgetary impacts of entitlement grants, 
user fees, or loan programs or the rights and obligations of recipients 
thereof; or
    (4) Raise novel legal or policy issues arising out of legal 
mandates, the President's priorities, or the principles stated in the 
Executive order.
    The Department estimates the quantified annualized economic and net 
budget impacts of the delay of the effective date to be -$26.9 million 
in reduced costs to institutions and the Federal government. These 
reduced costs result from the delay of the borrower defense provisions 
of the final regulations as they would apply to the 2017 to 2019 loan 
cohorts, as well as from the delayed paperwork burden on institutions, 
and the delayed execution of the closed school automatic discharge. 
This proposed regulatory action is a significant regulatory action 
subject to review by OMB under section 3(f) of Executive Order 12866.
    We have also reviewed this proposed rule under Executive Order 
13563, which supplements and explicitly reaffirms the principles, 
structures, and definitions governing regulatory review established in 
Executive Order 12866. To the extent permitted by law, Executive Order 
13563 requires that an agency--
    (1) Propose or adopt regulations only on a reasoned determination 
that their benefits justify their costs (recognizing that some benefits 
and costs are difficult to quantify);
    (2) Tailor its regulations to impose the least burden on society, 
consistent with obtaining regulatory objectives and taking into 
account--among other things and to the extent practicable--the costs of 
cumulative regulations;
    (3) In choosing among alternative regulatory approaches, select 
those approaches that maximize net benefits (including potential 
economic, environmental, public health and safety, and other 
advantages; distributive impacts; and equity);
    (4) To the extent feasible, specify performance objectives, rather 
than the behavior or manner of compliance a regulated entity must 
adopt; and
    (5) Identify and assess available alternatives to direct 
regulation, including economic incentives--such as user fees or 
marketable permits--to encourage the desired behavior, or provide 
information that enables the public to make choices.
    Executive Order 13563 also requires an agency ``to use the best 
available techniques to quantify anticipated present and future 
benefits and costs as accurately as possible.'' The Office of 
Information and Regulatory Affairs of OMB has emphasized that these 
techniques may include ``identifying changing future compliance costs 
that might result from technological innovation or anticipated 
behavioral changes.''
    We are issuing this proposed rule only on a reasoned determination 
that its benefits justify its costs. Based on the analysis that 
follows, the Department believes that this proposed rule is consistent 
with the principles in Executive Order 13563.
    We also have determined that this regulatory action does not unduly 
interfere with State, local, or Tribal governments in the exercise of 
their governmental functions.
    In accordance with both Executive orders, the Department has 
assessed the potential costs and benefits, both quantitative and 
qualitative, of this regulatory action.
    The quantified economic effects and net budget impact associated 
with the delayed effective date are not expected to be economically 
significant.
Effects of One-Year Delay
    As indicated in the Regulatory Impact Analysis (RIA) published with 
the final regulations on November 1, 2016, the final regulations were 
economically significant with a total estimated net budget impact of 
$16.6 billion over the 2017-2026 loan cohorts in the primary estimate 
scenario, including a cost of $381 million for cohorts 2014-2016 
attributable to the provisions for a three-year automatic closed school 
discharge. As the net budget impact is based on the net present value 
of the cash flows of the relevant cohorts over 40 years, delaying the 
final regulations for an additional year will have limited effect, as 
discussed below. This analysis is limited to the effect of delaying the 
effective date of the final regulations an additional year from July 1, 
2018 to July 1, 2019, and does not account for any potential changes in 
the final regulations.
    Even with the further delayed effective date, borrowers will still 
be able to submit claims. The provisions of the final regulations 
pertaining to the process for review and determination of claims were 
not limited to specific cohorts designated by the effective date so the 
delay will not result in specific cohorts of borrowers being excluded 
from the process reflected in the final regulations, when implemented. 
Once in effect, the protection generated by the financial protection 
provisions will be available to be applied to claims from loans 
originated earlier, including the period from July 1, 2018 to June 30, 
2019. Loans made before July 1, 2017, were always subject to the State-
based standard and borrowers' ability to bring claims under that 
standard is unchanged by the delay. For claims filed after the 
effective date of the regulations, for loans made on or after July 1, 
2019, the Federal standard established in the final regulations would 
apply. As discussed previously, the Department interprets all 
references to ``July 1, 2017'' in the text of the final regulations to 
mean the effective date of the final regulations. As a result, the 
further delay in the effective date means that loans made between July 
1, 2018 and June 30, 2019, will be subject to the

[[Page 49158]]

current State-based standard. As we noted in the final regulations, the 
Federal standard was designed to address much of the conduct already 
covered by the State-based standard, so the vast majority of claims 
associated with loans made between July 1, 2017, and the delayed 
effective date could be made under the current, State-based standard as 
well.
    In addition to borrowers, institutions are also affected by the 
delayed effective date. As indicated in the RIA for the final 
regulations, institutions bear the major costs of compliance, paperwork 
burden, and providing financial protection. The financial protection 
provisions of the final regulations depend on the effective date, so 
institutions will not incur these costs until the final regulations are 
in effect. In terms of cost savings for institutions, the estimated 
annual paperwork burden was approximately $9.4 million in the initial 
year of the final regulations. In the revised scenario developed to 
estimate the effect of the additional one-year delay in the effective 
date, transfers from institutions to students, via the Federal 
government, would be reduced by approximately $9.3 million for the 2017 
and 2018 loan cohorts. The costs of providing financial protection were 
not quantified in the RIA for the final regulations, and the Department 
has no additional data to estimate costs institutions may avoid from 
the delayed effective date of the financial protection provisions.
Net Budget Impact
    In order to estimate the net budget impact of the additional one-
year delay in the effective date to July 1, 2019, the Department 
developed a scenario that revised the primary estimate assumptions from 
the final regulations for the affected 2017 to 2019 loan cohorts, as 
was done for the one-year delay described in the IFR. As before, the 
Department applies an assumed level of school misconduct, borrower 
claims success, and recoveries from institutions (respectively labeled 
as Conduct Percent, Borrower Percent, and Recovery Percent in Table 1) 
to the President's Budget 2018 (PB2018) loan volume estimates to 
generate the estimated net borrower defense claims for each cohort, 
loan type, and sector. The assumptions for the primary scenario from 
the 2016 final regulation were the basis for the President's Budget 
2018 (PB2018) baseline that assumed the final regulations would go into 
effect on July 1, 2017. The scenario developed for this NPRM is 
designed to capture the incremental change from the one-year delay in 
the IFR associated with the further one-year delay in the effective 
date to July 1, 2019. Compared to the scenario developed for the IFR, 
recoveries are reduced by an additional two percent for the 2017 and 
2018 cohorts, all of the 2018 cohort is subject to the State-based 
standard, and the affected portion of the 2019 cohort is subject to the 
current, State-based standard and reduced recoveries at the five 
percent level used for the one-year delay in the IFR. Table 1 presents 
assumptions for the primary estimate from the final regulations and the 
revised estimate for the further one-year delay, from July 1, 2018 to 
July 1, 2019, in the effective date. In this scenario, the conduct 
percent is 90 percent of the primary scenario from the final 
regulations and the borrower percent is the same. The financial 
protection provided was always expected to increase over time, so the 
delayed effective date in the near term is not expected to 
significantly affect the amount of recoveries over the life of any 
particular loan cohort, limiting any net budget impact from the delay. 
To estimate the potential reduction in recoveries related to the 
proposed delayed effective date, we reduced recoveries for the affected 
portion of the 2017 and 2018 cohorts by seven percent for the private 
not-for-profit and proprietary sectors and by five percent for the 2019 
cohort. As in the final regulations and the IFR, recoveries from public 
institutions were held constant at 75 percent across scenarios.

                                    Table 1--Revised Assumptions for One-Year Delay From July 1, 2018 to July 1, 2019
--------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                       2017                            2018                            2019
                         Cohort                          -----------------------------------------------------------------------------------------------
                                                           Pub/Priv NFP        Prop        Pub/Priv NFP        Prop        Pub/Priv NFP        Prop
--------------------------------------------------------------------------------------------------------------------------------------------------------
Conduct Percent:
    Final Primary.......................................             3.0              20             2.4              16             2.0            13.6
    Delay to 2019.......................................             2.7              18            2.16            14.4             1.8           12.24
Borrower Percent:
    Final Primary.......................................              35              45            36.8            47.3            36.8            47.3
    Delay to 2019.......................................              35              45            36.8            47.3            36.8            47.3
                                                         -----------------------------------------------------------------------------------------------
                                                                 0Public     Priv/Prop        Public         Priv/Prop        Public         Priv/Prop
                                                         -----------------------------------------------------------------------------------------------
Recovery Percent:
    Final Primary.......................................              75            23.8              75            23.8              75            23.8
    Delay to 2019.......................................              75          22.134              75          22.134              75          24.871
--------------------------------------------------------------------------------------------------------------------------------------------------------

    The net budget impact associated with these effects of the 
additional one-year delay in the effective date on the borrower defense 
provisions only is approximately -$46.1 million from the 2017 to 2019 
loan cohorts.
    As the amount and composition of borrower defense claims and 
estimated recoveries over the lifetime of the relevant loan cohorts are 
not expected to change greatly due to the delayed effective date, the 
Department does not estimate an economically significant net budget 
impact from the delay itself, with a potential net budget impact 
related to borrower defense claims of -$46.1 million in reduced costs 
for the affected cohorts. This represents the incremental change 
associated with the additional one-year delay from July 1, 2018 to July 
1, 2019. If compared to the PB2018 baseline, the savings would be 
approximately -$78.8 million.
    The closed school automatic discharge provisions were the other 
significant source of estimated net budget impact in the final 
regulations. Under credit reform scoring, the modification to older 
cohorts for the automatic discharge provision estimated to cost $364 
million was expected to occur in fiscal year (FY) 2017 in the 
President's Budget for FY 2018 (PB2018). As a result of the delay in 
the effective date, the Department will not execute the modification in 
FY 2017.
    As indicated in the IFR, the Department does expect to incur the 
costs associated with the three-year

[[Page 49159]]

automatic discharge after the delayed effective date, but moving the 
execution of the modification beyond FY 2017 will require a new cost 
analysis with economic assumptions from the fiscal year of the 
execution. This will result in a change of cost, but at this point it 
is not possible to know the discount rates in future fiscal years, so 
the cost of the modification will be determined in the year that it is 
executed. While the actual cost of the future modification cannot be 
determined at this time, the Department did approximate the effect of 
the delay by shifting the timing of the relevant discharges back by a 
year and recalculating a modification using the discount rates and 
economic assumptions used for the calculation of the PB2018 
modification. When calculated in this manner, the delay in the 
modification to July 2018 described in the IFR resulted in estimated 
savings of less than $10 million. Using the same approach, the further 
delay to July 2019 is expected to save approximately $15 million above 
the savings from the initial one-year delay.
    As the delay does not change the substance of the automatic 
discharge, we would expect the amount and composition of loans affected 
by the automatic discharge not to change significantly. The closed 
school three-year automatic discharge provisions were applicable to 
loans made on or after November 1, 2013, and were not linked to the 
effective date of the final regulations. Therefore, delaying the 
effective date of those provisions will not change the set of loans 
eligible for this automatic discharge. Additionally, borrowers would 
have the ability to apply for a closed school discharge before July 1, 
2019, if they did not want to wait for the automatic discharge to be 
implemented. For future cohorts, the delay is not significant as the 
three-year period will fall beyond the delayed effective date. Any 
significant change to the estimated net budget impact associated with 
the closed school automatic discharge depends on any substantive 
changes made to the provisions as a result of the upcoming rulemaking 
and changes to economic assumptions when the modification is executed.
    Consistent with Executive Order 13771 (82 FR 9339, February 3, 
2017), we have estimated that this proposed rule will result in cost 
savings. Therefore, this proposed rule would be considered an Executive 
Order 13771 deregulatory action.
Accounting Statement
    In evaluating whether a regulation is economically significant, a 
key consideration is whether the annual effect in any given year is 
over $100 million. To evaluate this, the Department looked at the 
difference in the undiscounted cashflows related to the death, 
disability, and bankruptcy (DDB) claims in which borrower defense 
claims are included for the one-year delay established in the IFR and 
the further one-year delay scenario described under Net Budget Impacts. 
The difference from subtracting the further delay scenario from the IFR 
one-year delay scenario for the 2017 to 2019 cohorts is summarized in 
Table 2.

  Table 2--Difference in Undiscounted Net Cashflows for the 2017 to 2019 Loan Cohorts From the Further One-Year
                               Delay in 2016 Borrower Defense Rule to July 1, 2019
----------------------------------------------------------------------------------------------------------------
                                      FY 2017         FY 2018         FY 2019         FY 2020         FY 2021
----------------------------------------------------------------------------------------------------------------
Change in DDB Cashflow..........             159           7,489         496,637         637,361         538,468
----------------------------------------------------------------------------------------------------------------
                                         FY 2022         FY 2023         FY 2024         FY 2025         FY 2026
----------------------------------------------------------------------------------------------------------------
Change in DDB Cashflow..........       6,004,802       9,525,520       4,668,143       2,156,009       3,003,657
----------------------------------------------------------------------------------------------------------------

    Table 3 shows the effects when those differences in the DDB 
cashflows are discounted at 7 and 3 percent and annualized.

------------------------------------------------------------------------
 
------------------------------------------------------------------------
Category                                             Benefits
------------------------------------------------------------------------
Institutions may not incur compliance
 costs or costs of obtaining financial
 protection until the rule is in effect.          Not Quantified
------------------------------------------------------------------------
Category                                               Costs
------------------------------------------------------------------------
                                                      7%              3%
------------------------------------------------------------------------
Continued use of State-law based
 standard                                         Not Quantified
Delay in providing consumer information
 about institution's performance and
 practices
Potential decreased awareness and usage
 of closed school and false
 certification discharges
------------------------------------------------------------------------
Savings associated with delay in                    -9.5           -9.51
 compliance with paperwork requirements.
------------------------------------------------------------------------
Category                                             Transfers
------------------------------------------------------------------------
                                                      7%              3%
------------------------------------------------------------------------
Reduction in transfers from the Federal             -3.5            -3.8
 Government to affected borrowers in the
 2017 to 2019 cohorts that would have
 been partially borne by affected
 institutions via reimbursements........
------------------------------------------------------------------------
Reduced reimbursements from affected                -1.2            -1.3
 institutions to affected students, via
 the Federal government as loan cohorts
 2017 to 2019 are subject to the
 existing borrower defense regulation...
------------------------------------------------------------------------
Delay in closed school automatic                   -14.8           -14.8
 discharge implementation from 2018 to
 2019...................................
------------------------------------------------------------------------


[[Page 49160]]

Paperwork Reduction Act of 1995

    As indicated in the Paperwork Reduction Act section published in 
the final regulations, the assessed estimated burden was 253,136 hours, 
affecting both institutions and individuals, with an estimated annual 
cost of $9,458,484. The table below identifies the regulatory sections, 
OMB Control Numbers, estimated burden hours, and estimated costs of the 
final regulations.

----------------------------------------------------------------------------------------------------------------
                                                                                                 Estimated cost
                                                                                                  $36.55/hour
         Regulatory section           OMB Control No.                Burden hours                 institution
                                                                                                  $16.30/hour
                                                                                                   individual
----------------------------------------------------------------------------------------------------------------
668.14.............................          1845-0022  1,953................................             71,382
668.41.............................          1845-0004  5,346................................            195,396
668.171............................          1845-0022  3,028................................            110,673
668.175............................          1845-0022  60,560...............................          2,213,468
682.211............................          1845-0020  5,784................................            211,405
682.402............................          1845-0020  1,838................................             67,179
685.222............................          1845-0142  249 (Individuals)....................              4,059
685.222............................          1845-0142  800 (Institutions)...................             29,240
685.300............................          1845-0143  179,362..............................          6,555,681
rrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrr
    Total..........................  .................  258,920..............................          9,458,484
Cost savings due to delayed          .................  253,136..............................          9,247,079
 effective date excluding 682.211
 early implementation allowed.
Burden remaining...................  .................  5,784................................            211,405
----------------------------------------------------------------------------------------------------------------

    This notice of proposed rulemaking delays the effective date of the 
implementation of all of the cited regulations and would result in a 
cost savings of the total amount of $9,458,484. However, Sec.  
682.211(i)(7) of the final regulations, regarding mandatory forbearance 
based on a borrower defense claim, with an estimated 5,784 hours and 
$211,405 cost, as would continue to be designated for early 
implementation. Lenders may have elected early implementation and, 
therefore, those specific costs and hours remain applicable and have 
been subtracted from the overall estimated cost saving. Based on the 
delayed effective date of July 1, 2019, the revised estimated annual 
cost savings to institutions and individuals is $9,247,079 ($9,458,484 
- $211,405) with an estimated burden hours savings of 253,136 (258,920 
- 5,784).
    Accessible Format: Individuals with disabilities may 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.thefederalregister.org/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 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.

List of Subjects

34 CFR Part 668

    Administrative practice and procedure, Colleges and universities, 
Consumer protection, Grant programs--education, Loan programs--
education, Reporting and recordkeeping requirements, Selective Service 
System, Student aid, Vocational education.

34 CFR Part 674

    Loan programs--education, Reporting and recordkeeping requirements, 
Student aid.

34 CFR Parts 682 and 685

    Administrative practice and procedure, Colleges and universities, 
Loan programs--education, Reporting and recordkeeping requirements, 
Student aid, Vocational education.

    Dated: October 16, 2017.
Betsy DeVos,
Secretary of Education.
[FR Doc. 2017-22850 Filed 10-20-17; 4:15 pm]
 BILLING CODE 4000-01-P



                                                                       Federal Register / Vol. 82, No. 204 / Tuesday, October 24, 2017 / Proposed Rules                                          49155

                                                 message can be received without                         § 117.T879        Isthmus Slough.                      or those submitted after the comment
                                                 jeopardizing the safety or security of                    The draw of the Oregon State                         period. To ensure that we do not receive
                                                 people, places or vessels.                              secondary highway bridge, mile 1.0, at                 duplicate copies, please submit your
                                                                                                         Coos Bay, shall operate in single leaf,                comments only once. In addition, please
                                                 V. Public Participation and Request for
                                                                                                         and open half the draw on signal if at                 include the Docket ID at the top of your
                                                 Comments
                                                                                                         least 24 hours notice is given. The                    comments.
                                                    We view public participation as                      vertical clearance of the non-functioning                 If you are submitting comments
                                                 essential to effective rulemaking, and                  leaf will be reduced up to ten feet.                   electronically, we strongly encourage
                                                 will consider all comments and material                   Dated: October 13, 2017.                             you to submit any comments or
                                                 received during the comment period.                                                                            attachments in Microsoft Word format.
                                                                                                         Brendan C. McPherson,
                                                 Your comment can help shape the                                                                                If you must submit a comment in
                                                                                                         Captain, U.S. Coast Guard, Acting
                                                 outcome of this rulemaking. If you                                                                             Portable Document Format (PDF), we
                                                                                                         Commander, Thirteenth Coast Guard District.
                                                 submit a comment, please include the                                                                           strongly encourage you to convert the
                                                                                                         [FR Doc. 2017–23052 Filed 10–23–17; 8:45 am]
                                                 docket number for this rulemaking,                                                                             PDF to print-to-PDF format or to use
                                                                                                         BILLING CODE 9110–04–P
                                                 indicate the specific section of this                                                                          some other commonly used searchable
                                                 document to which each comment                                                                                 text format. Please do not submit the
                                                 applies, and provide a reason for each                                                                         PDF in a scanned format. Using a print-
                                                 suggestion or recommendation.                           DEPARTMENT OF EDUCATION                                to-PDF format allows the Department to
                                                    We encourage you to submit                                                                                  electronically search and copy certain
                                                                                                         34 CFR Parts 668, 674, 682, and 685
                                                 comments through the Federal                                                                                   portions of your submissions.
                                                 eRulemaking Portal at http://                           [Docket ID ED–2017–OPE–0112]                              • Federal eRulemaking Portal: Go to
                                                 www.regulations.gov. If your material                   RIN 1840–AD28                                          www.regulations.gov to submit your
                                                 cannot be submitted using http://                                                                              comments electronically. Information
                                                 www.regulations.gov, contact the person                 Student Assistance General                             on using Regulations.gov, including
                                                 in the FOR FURTHER INFORMATION                          Provisions, Federal Perkins Loan                       instructions for accessing agency
                                                 CONTACT section of this document for                    Program, Federal Family Education                      documents, submitting comments, and
                                                 alternate instructions.                                 Loan Program, William D. Ford Federal                  viewing the docket, is available on the
                                                    We accept anonymous comments. All                    Direct Loan Program, and Teacher                       site under ‘‘Help.’’
                                                 comments received will be posted                        Education Assistance for College and                      • Postal Mail, Commercial Delivery,
                                                 without change to http://                               Higher Education Grant Program                         or Hand Delivery: The Department
                                                 www.regulations.gov and will include                                                                           strongly encourages commenters to
                                                 any personal information you have                       AGENCY: Office of Postsecondary                        submit their comments electronically.
                                                 provided. For more about privacy and                    Education, Department of Education.                    However, if you mail or deliver your
                                                 the docket, visit http://                               ACTION: Notice of proposed rulemaking.                 comments about the notice of proposed
                                                 www.regulations.gov/privacynotice.                                                                             rulemaking, address them to Jean-Didier
                                                                                                         SUMMARY:   The Secretary proposes to                   Gaina, U.S. Department of Education,
                                                    Documents mentioned in this NPRM                     further delay, until July 1, 2019, the
                                                 as being available in this docket and all                                                                      400 Maryland Ave. SW., Mail Stop
                                                                                                         effective date of selected provisions of               6W248, Washington, DC 20202.
                                                 public comments, will be in our online                  the final regulations entitled Student
                                                 docket at http://www.regulations.gov                                                                              Privacy Note: The Department’s
                                                                                                         Assistance General Provisions, Federal
                                                 and can be viewed by following that                                                                            policy is to make all comments received
                                                                                                         Perkins Loan Program, Federal Family
                                                 Web site’s instructions. Additionally, if                                                                      from members of the public available for
                                                                                                         Education Loan (FFEL) Program,
                                                 you go to the online docket and sign up                                                                        public viewing on the Federal
                                                                                                         William D. Ford Federal Direct Loan
                                                 for email alerts, you will be notified                                                                         eRulemaking Portal at
                                                                                                         Program, and Teacher Education
                                                 when comments are posted or a final                                                                            www.regulations.gov. Therefore,
                                                                                                         Assistance for College and Higher
                                                 rule is published.                                                                                             commenters should be careful to
                                                                                                         Education Grant Program (the final
                                                                                                                                                                include in their comments only
                                                 List of Subjects in 33 CFR Part 117                     regulations), published in the Federal
                                                                                                                                                                information that they wish to make
                                                                                                         Register on November 1, 2016. The
                                                   Bridges.                                                                                                     publicly available.
                                                                                                         Secretary proposes this further delay to
                                                   For the reasons discussed in the                      ensure that there is adequate time to                  FOR FURTHER INFORMATION CONTACT:
                                                 preamble, the Coast Guard proposes to                   conduct negotiated rulemaking and, as                  Barbara Hoblitzell, U.S. Department of
                                                 amend 33 CFR part 117 as follows:                       necessary, develop revised regulations.                Education, 400 Maryland Ave. SW.,
                                                                                                         The provisions for which we propose to                 Mail Stop 6W248, Washington, DC
                                                 PART 117—DRAWBRIDGE                                     further delay the effective date are listed            20202. Telephone: (202) 453–7583 or by
                                                 OPERATION REGULATIONS                                   in the SUPPLEMENTARY INFORMATION                       email at: Barbara.Hoblitzell@ed.gov.
                                                                                                         section of this document. The current                     If you use a telecommunications
                                                 ■ 1. The authority citation for part 117                effective date of selected provisions of               device for the deaf (TDD) or a text
                                                 continues to read as follows:                           the final regulations is July 1, 2018, in              telephone (TTY), call the Federal Relay
                                                   Authority: 33 U.S.C. 499; 33 CFR 1.05–1;              accordance with the interim final rule                 Service (FRS), toll free, at 1–800–877–
                                                 Department of Homeland Security Delegation              (IFR) published elsewhere in this issue                8339.
                                                 No. 0170.1.
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                                                                                                         of the Federal Register.                               SUPPLEMENTARY INFORMATION:
                                                 ■ 2. Suspend § 117.879 from 6 a.m. on                   DATES: We must receive your comments                     Invitation To Comment: We invite
                                                 February 26, 2018, through 6 p.m. on                    on or before November 24, 2017.                        you to submit comments regarding this
                                                 July 31, 2019.                                          ADDRESSES: Submit your comments                        notice of proposed rulemaking. We will
                                                 ■ 3. Add a new temporary § 117.T879,                    through the Federal eRulemaking Portal                 consider comments on the further
                                                 from 6 a.m. on February 26, 2018,                       or via postal mail, commercial delivery,               delayed effective date only and will not
                                                 through 6 p.m. on July 31, 2019, to read                or hand delivery. We will not accept                   consider comments on the wording or
                                                 as follows:                                             comments submitted by fax or by email                  substance of the final regulations. See


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                                                 49156                 Federal Register / Vol. 82, No. 204 / Tuesday, October 24, 2017 / Proposed Rules

                                                 ADDRESSES for instructions on how to                    negotiated rulemaking session is                         • § 682.410(b)(4) and (b)(6)(viii)
                                                 submit comments.                                        scheduled for November 13–15, 2017,                   Fiscal, administrative, and enforcement
                                                    During and after the comment period,                 we cannot complete the negotiated                     requirements.
                                                 you may inspect all public comments                     rulemaking process and the                               • § 685.200(f)(3)(v) and (f)(4)(iii)
                                                 about this notice of proposed                           development of revised regulations by                 Borrower eligibility.
                                                 rulemaking by accessing                                 November 1, 2018. Under the master                       • § 685.205(b)(6) Forbearance.
                                                 Regulations.gov. You may also inspect                   calendar, a regulatory change that has                   • § 685.206(c) Borrower
                                                 the comments in person in room                          been published in final form on or                    responsibilities and defenses.
                                                 6W245, 400 Maryland Avenue SW.,                         before November 1 prior to the start of                  • § 685.212(k) Discharge of a loan
                                                 Washington, DC, between 8:30 a.m. and                   an award year—which begins on July 1                  obligation.
                                                 4:00 p.m. Washington, DC time, Monday                   of any given year—may take effect only                   • § 685.214(c)(2) and (f)(4) through (7)
                                                 through Friday of each week, except                     at the beginning of the next award year,              Closed school discharge.
                                                 Federal holidays. If you want to                        or in other words, on July 1 of the next                 • § 685.215(a)(1), (c)(1) through (c)(8),
                                                 schedule time to inspect comments,                      year. In light of this requirement, the               and (d) Discharge for false certification
                                                 please contact the person listed under                  regulations resulting from negotiated                 of student eligibility or unauthorized
                                                 FOR FURTHER INFORMATION CONTACT.                        rulemaking could not be effective before              payment.
                                                    Assistance to Individuals With                                                                                • § 685.222 Borrower defenses.
                                                                                                         July 1, 2019.                                            • Part 685 subpart B, Appendix A
                                                 Disabilities in Reviewing the                              As noted previously, elsewhere in this
                                                 Rulemaking Record: On request, we will                                                                        Examples of borrower relief.
                                                                                                         issue of the Federal Register, the                       • § 685.300(b)(11), (b)(12), and (d)
                                                 provide an appropriate accommodation                    Department is publishing an IFR
                                                 or auxiliary aid to an individual with a                                                                      through (i) Agreements between an
                                                                                                         delaying the effective date of the final              eligible school and the Secretary for
                                                 disability who needs assistance to                      regulations until July 1, 2018. The
                                                 review the comments or other                                                                                  participation in the Direct Loan
                                                                                                         Department could implement the final                  Program.
                                                 documents in the public-rulemaking                      regulations on July 1, 2018, pursuant to
                                                 record for this notice of proposed                                                                               • § 685.308(a) Remedial actions.
                                                                                                         the IFR, or, through notice and comment                  As noted in the IFR, the Department
                                                 rulemaking. If you want to schedule an                  rulemaking, we could delay the effective
                                                 appointment for this type of                                                                                  interprets all references to ‘‘July 1,
                                                                                                         date until July 1, 2019, or a future July             2017’’ in the text of the above-
                                                 accommodation or auxiliary aid, please                  1. We propose to further delay the
                                                 contact the person listed under FOR                                                                           referenced regulations to mean the
                                                                                                         effective date of the final regulations, to           effective date of those regulations. The
                                                 FURTHER INFORMATION CONTACT.                            continue to preserve the regulatory
                                                    Elsewhere in this issue of the Federal                                                                     regulatory text included references to
                                                                                                         status quo, until July 1, 2019. The                   the specific July 1, 2017, date in part to
                                                 Register, the Department is publishing
                                                                                                         Department would continue to process                  provide clarity to readers in the future
                                                 an IFR delaying until July 1, 2018, the
                                                                                                         borrower defense claims under the                     as to when the regulations had taken
                                                 effective date of selected provisions of
                                                                                                         existing regulations that will remain in              effect. Because the regulations did not
                                                 the final regulations. The original
                                                                                                         effect during the delay so that borrowers             take effect on July 1, 2017, we would,
                                                 effective date of the final regulations
                                                                                                         may continue to apply for the discharge               in connection with this proposed
                                                 published November 1, 2016 (81 FR
                                                                                                         of all or a part of their loans.                      additional delay of effective date, read
                                                 75926) was July 1, 2017. On June 16,
                                                                                                            Based on the above considerations,                 those regulations as referring to the new
                                                 2017, the Department published in the
                                                                                                         the Department is proposing to delay                  effective date established by this further
                                                 Federal Register a notification of the
                                                                                                         until July 1, 2019, the effective date of             delay, i.e., July 1, 2019.
                                                 partial delay of effective dates under
                                                                                                         the following provisions of the final                    This proposed delay of the final
                                                 section 705 of the Administrative
                                                                                                         regulations in title 34 of the Code of                regulations will not delay the effective
                                                 Procedure Act (5 U.S.C. 705) (82 FR
                                                                                                         Federal Regulations (CFR):                            dates of the following regulatory
                                                 27621) (705 Notice), to delay the
                                                                                                            • § 668.14(b)(30), (31), and (32)                  provisions published in 81 FR 75926
                                                 effectiveness of certain provisions of the
                                                                                                         Program participation agreement.                      which: (1) Expand the types of
                                                 final regulations until a legal challenge                  • § 668.41(h) and (i) Reporting and
                                                 by the California Association of Private                                                                      documentation that may be used for the
                                                                                                         disclosure of information.                            granting of a discharge based on the
                                                 Postsecondary Schools is resolved. See                     • § 668.71(c) Scope and special
                                                 Complaint and Prayer for Declaratory                                                                          death of the borrower; (2) amend the
                                                                                                         definitions.
                                                 and Injunctive Relief, California                                                                             regulations governing the consolidation
                                                                                                            • § 668.90(a)(3) Initial and final
                                                 Association of Private Postsecondary                                                                          of Nursing Student Loans and Nurse
                                                                                                         decisions.
                                                 Schools v. DeVos, Civil Action No.                         • § 668.93(h), (i), and (j) Limitation.            Faculty Loans so that they align with
                                                 1:17–cv–00999 (D.D.C. May 24, 2017).                       • § 668.171 General.                               the statutory requirements of section
                                                 As explained in the IFR, because the                       • § 668.175(c), (d), (f), and (h)                  428C(a)(4)(E) of the HEA; (3) amend the
                                                 final regulations have been postponed                   Alternative standards and requirements.               regulations governing Direct
                                                 by the 705 Notice beyond July 1, 2017,                     • Part 668 subpart L, Appendix C.                  Consolidation Loans to allow a borrower
                                                 they must become effective no earlier                      • § 674.33(g)(3) and (g)(8) Repayment.             to obtain a Direct Consolidation Loan
                                                 than July 1, 2018, to comply with                          • § 682.202(b)(1) Permissible charges              regardless of whether the borrower is
                                                 section 482 of the Higher Education Act                 by lenders to borrowers.                              also seeking to consolidate a Direct Loan
                                                 of 1965, as amended (HEA) (20 U.S.C.                       • § 682.211(i)(7) Forbearance.                     Program or FFEL Program loan, if the
                                                 1089), also known as the ‘‘master                          • § 682.402(d)(3), (d)(6)(ii)(B)(1) and            borrower has a loan type identified in
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                                                 calendar requirement.’’                                 (2), (d)(6)(ii)(F) introductory text,                 34 CFR 685.220(b); (4) address
                                                    Also on June 16, 2017, the                           (d)(6)(ii)(F)(5), (d)(6)(ii)(G), (d)(6)(ii)(H)        severability; and (5) make technical
                                                 Department announced its intent to                      through (K), (d)(7)(ii) and (iii), (d)(8),            corrections. As established in 81 FR
                                                 convene a committee to develop                          and (e)(6)(iii) Death, disability, closed             75926, 34 CFR 682.211(i)(7) and
                                                 proposed regulations to revise the                      school, false certification, unpaid                   682.410(b)(6)(viii) would remain
                                                 regulations on borrower defense to                      refunds, and bankruptcy payments.                     designated for early implementation, at
                                                 repayment of Federal student loans and                     • § 682.405(b)(4)(ii) Loan                         the discretion of each lender or guaranty
                                                 other matters. Given that the first                     rehabilitation agreement.                             agency.


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                                                                       Federal Register / Vol. 82, No. 204 / Tuesday, October 24, 2017 / Proposed Rules                                            49157

                                                    Waiver of Negotiated Rulemaking:                     2017 to 2019 loan cohorts, as well as                 governments in the exercise of their
                                                 Under section 492 of the HEA (20 U.S.C.                 from the delayed paperwork burden on                  governmental functions.
                                                 1098a), all regulations proposed by the                 institutions, and the delayed execution                 In accordance with both Executive
                                                 Department for programs authorized                      of the closed school automatic                        orders, the Department has assessed the
                                                 under title IV of the HEA are subject to                discharge. This proposed regulatory                   potential costs and benefits, both
                                                 negotiated rulemaking requirements.                     action is a significant regulatory action             quantitative and qualitative, of this
                                                 However, section 492(b)(2) of the HEA                   subject to review by OMB under section                regulatory action.
                                                 provides that negotiated rulemaking                     3(f) of Executive Order 12866.                          The quantified economic effects and
                                                 may be waived for good cause when                          We have also reviewed this proposed                net budget impact associated with the
                                                 doing so would be ‘‘impracticable,                      rule under Executive Order 13563,                     delayed effective date are not expected
                                                 unnecessary, or contrary to the public                  which supplements and explicitly                      to be economically significant.
                                                 interest.’’ Section 492(b)(2) of the HEA                reaffirms the principles, structures, and             Effects of One-Year Delay
                                                 also requires the Secretary to publish                  definitions governing regulatory review
                                                                                                                                                                  As indicated in the Regulatory Impact
                                                 the basis for waiving negotiations in the               established in Executive Order 12866.
                                                                                                                                                               Analysis (RIA) published with the final
                                                 Federal Register at the same time as the                To the extent permitted by law,
                                                                                                                                                               regulations on November 1, 2016, the
                                                 proposed regulations in question are                    Executive Order 13563 requires that an
                                                                                                                                                               final regulations were economically
                                                 first published.                                        agency—
                                                                                                                                                               significant with a total estimated net
                                                    For the reasons stated above, it would                  (1) Propose or adopt regulations only              budget impact of $16.6 billion over the
                                                 not be practicable, before the July 1,                  on a reasoned determination that their                2017–2026 loan cohorts in the primary
                                                 2018 effective date specified in the IFR,               benefits justify their costs (recognizing             estimate scenario, including a cost of
                                                 to engage in negotiated rulemaking and                  that some benefits and costs are difficult            $381 million for cohorts 2014–2016
                                                 publish final regulations. There is,                    to quantify);                                         attributable to the provisions for a three-
                                                 therefore, good cause to waive                             (2) Tailor its regulations to impose the           year automatic closed school discharge.
                                                 negotiated rulemaking pertaining to this                least burden on society, consistent with              As the net budget impact is based on the
                                                 delay.                                                  obtaining regulatory objectives and                   net present value of the cash flows of
                                                 Executive Orders 12866, 13563, and                      taking into account—among other things                the relevant cohorts over 40 years,
                                                 13771                                                   and to the extent practicable—the costs               delaying the final regulations for an
                                                                                                         of cumulative regulations;                            additional year will have limited effect,
                                                 Regulatory Impact Analysis                                 (3) In choosing among alternative                  as discussed below. This analysis is
                                                    Under Executive Order 12866, it must                 regulatory approaches, select those                   limited to the effect of delaying the
                                                 be determined whether this regulatory                   approaches that maximize net benefits                 effective date of the final regulations an
                                                 action is ‘‘significant’’ and, therefore,               (including potential economic,                        additional year from July 1, 2018 to July
                                                 subject to the requirements of the                      environmental, public health and safety,              1, 2019, and does not account for any
                                                 Executive Order and subject to review                   and other advantages; distributive                    potential changes in the final
                                                 by the Office of Management and                         impacts; and equity);                                 regulations.
                                                 Budget (OMB). Section 3(f) of Executive                    (4) To the extent feasible, specify                   Even with the further delayed
                                                 Order 12866 defines a ‘‘significant                     performance objectives, rather than the               effective date, borrowers will still be
                                                 regulatory action’’ as an action likely to              behavior or manner of compliance a                    able to submit claims. The provisions of
                                                 result in a rule that may—                              regulated entity must adopt; and                      the final regulations pertaining to the
                                                    (1) Have an annual effect on the                        (5) Identify and assess available                  process for review and determination of
                                                 economy of $100 million or more, or                     alternatives to direct regulation,                    claims were not limited to specific
                                                 adversely affect a sector of the economy,               including economic incentives—such as                 cohorts designated by the effective date
                                                 productivity, competition, jobs, the                    user fees or marketable permits—to                    so the delay will not result in specific
                                                 environment, public health or safety, or                encourage the desired behavior, or                    cohorts of borrowers being excluded
                                                 State, local, or Tribal governments or                  provide information that enables the                  from the process reflected in the final
                                                 communities in a material way (also                     public to make choices.                               regulations, when implemented. Once
                                                 referred to as an ‘‘economically                           Executive Order 13563 also requires                in effect, the protection generated by the
                                                 significant’’ rule);                                    an agency ‘‘to use the best available                 financial protection provisions will be
                                                    (2) Create serious inconsistency or                  techniques to quantify anticipated                    available to be applied to claims from
                                                 otherwise interfere with an action taken                present and future benefits and costs as              loans originated earlier, including the
                                                 or planned by another agency;                           accurately as possible.’’ The Office of               period from July 1, 2018 to June 30,
                                                    (3) Materially alter the budgetary                   Information and Regulatory Affairs of                 2019. Loans made before July 1, 2017,
                                                 impacts of entitlement grants, user fees,               OMB has emphasized that these                         were always subject to the State-based
                                                 or loan programs or the rights and                      techniques may include ‘‘identifying                  standard and borrowers’ ability to bring
                                                 obligations of recipients thereof; or                   changing future compliance costs that                 claims under that standard is
                                                    (4) Raise novel legal or policy issues               might result from technological                       unchanged by the delay. For claims
                                                 arising out of legal mandates, the                      innovation or anticipated behavioral                  filed after the effective date of the
                                                 President’s priorities, or the principles               changes.’’                                            regulations, for loans made on or after
                                                 stated in the Executive order.                             We are issuing this proposed rule                  July 1, 2019, the Federal standard
                                                    The Department estimates the                         only on a reasoned determination that                 established in the final regulations
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                                                 quantified annualized economic and net                  its benefits justify its costs. Based on the          would apply. As discussed previously,
                                                 budget impacts of the delay of the                      analysis that follows, the Department                 the Department interprets all references
                                                 effective date to be -$26.9 million in                  believes that this proposed rule is                   to ‘‘July 1, 2017’’ in the text of the final
                                                 reduced costs to institutions and the                   consistent with the principles in                     regulations to mean the effective date of
                                                 Federal government. These reduced                       Executive Order 13563.                                the final regulations. As a result, the
                                                 costs result from the delay of the                         We also have determined that this                  further delay in the effective date means
                                                 borrower defense provisions of the final                regulatory action does not unduly                     that loans made between July 1, 2018
                                                 regulations as they would apply to the                  interfere with State, local, or Tribal                and June 30, 2019, will be subject to the


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                                                 49158                     Federal Register / Vol. 82, No. 204 / Tuesday, October 24, 2017 / Proposed Rules

                                                 current State-based standard. As we                            institutions may avoid from the delayed                     recoveries are reduced by an additional
                                                 noted in the final regulations, the                            effective date of the financial protection                  two percent for the 2017 and 2018
                                                 Federal standard was designed to                               provisions.                                                 cohorts, all of the 2018 cohort is subject
                                                 address much of the conduct already                                                                                        to the State-based standard, and the
                                                                                                                Net Budget Impact
                                                 covered by the State-based standard, so                                                                                    affected portion of the 2019 cohort is
                                                 the vast majority of claims associated                           In order to estimate the net budget                       subject to the current, State-based
                                                 with loans made between July 1, 2017,                          impact of the additional one-year delay                     standard and reduced recoveries at the
                                                 and the delayed effective date could be                        in the effective date to July 1, 2019, the                  five percent level used for the one-year
                                                 made under the current, State-based                            Department developed a scenario that                        delay in the IFR. Table 1 presents
                                                 standard as well.                                              revised the primary estimate                                assumptions for the primary estimate
                                                    In addition to borrowers, institutions                      assumptions from the final regulations                      from the final regulations and the
                                                 are also affected by the delayed effective                     for the affected 2017 to 2019 loan                          revised estimate for the further one-year
                                                 date. As indicated in the RIA for the                          cohorts, as was done for the one-year                       delay, from July 1, 2018 to July 1, 2019,
                                                 final regulations, institutions bear the                       delay described in the IFR. As before,                      in the effective date. In this scenario, the
                                                 major costs of compliance, paperwork                           the Department applies an assumed                           conduct percent is 90 percent of the
                                                 burden, and providing financial                                level of school misconduct, borrower                        primary scenario from the final
                                                 protection. The financial protection                           claims success, and recoveries from                         regulations and the borrower percent is
                                                 provisions of the final regulations                            institutions (respectively labeled as                       the same. The financial protection
                                                 depend on the effective date, so                               Conduct Percent, Borrower Percent, and                      provided was always expected to
                                                 institutions will not incur these costs                        Recovery Percent in Table 1) to the                         increase over time, so the delayed
                                                 until the final regulations are in effect.                     President’s Budget 2018 (PB2018) loan                       effective date in the near term is not
                                                 In terms of cost savings for institutions,                     volume estimates to generate the                            expected to significantly affect the
                                                 the estimated annual paperwork burden                          estimated net borrower defense claims                       amount of recoveries over the life of any
                                                 was approximately $9.4 million in the                          for each cohort, loan type, and sector.                     particular loan cohort, limiting any net
                                                 initial year of the final regulations. In                      The assumptions for the primary                             budget impact from the delay. To
                                                 the revised scenario developed to                              scenario from the 2016 final regulation                     estimate the potential reduction in
                                                 estimate the effect of the additional one-                     were the basis for the President’s Budget                   recoveries related to the proposed
                                                 year delay in the effective date, transfers                    2018 (PB2018) baseline that assumed                         delayed effective date, we reduced
                                                 from institutions to students, via the                         the final regulations would go into effect                  recoveries for the affected portion of the
                                                 Federal government, would be reduced                           on July 1, 2017. The scenario developed                     2017 and 2018 cohorts by seven percent
                                                 by approximately $9.3 million for the                          for this NPRM is designed to capture the                    for the private not-for-profit and
                                                 2017 and 2018 loan cohorts. The costs                          incremental change from the one-year                        proprietary sectors and by five percent
                                                 of providing financial protection were                         delay in the IFR associated with the                        for the 2019 cohort. As in the final
                                                 not quantified in the RIA for the final                        further one-year delay in the effective                     regulations and the IFR, recoveries from
                                                 regulations, and the Department has no                         date to July 1, 2019. Compared to the                       public institutions were held constant at
                                                 additional data to estimate costs                              scenario developed for the IFR,                             75 percent across scenarios.

                                                                     TABLE 1—REVISED ASSUMPTIONS FOR ONE-YEAR DELAY FROM JULY 1, 2018 TO JULY 1, 2019
                                                                                                                         2017                                        2018                                   2019
                                                                        Cohort
                                                                                                           Pub/Priv NFP             Prop           Pub/Priv NFP               Prop            Pub/Priv NFP           Prop

                                                 Conduct Percent:
                                                     Final Primary .....................................                3.0                   20                    2.4               16                   2.0            13.6
                                                     Delay to 2019 ...................................                  2.7                   18                   2.16              14.4                  1.8           12.24
                                                 Borrower Percent:
                                                     Final Primary .....................................                35                    45                   36.8              47.3                 36.8              47.3
                                                     Delay to 2019 ...................................                  35                    45                   36.8              47.3                 36.8              47.3

                                                                                                               Public             Priv/Prop               Public            Priv/Prop            Public            Priv/Prop

                                                 Recovery Percent:
                                                    Final Primary .....................................                 75               23.8                       75             23.8                    75             23.8
                                                    Delay to 2019 ...................................                   75             22.134                       75           22.134                    75           24.871



                                                    The net budget impact associated                            budget impact from the delay itself,                        budget impact in the final regulations.
                                                 with these effects of the additional one-                      with a potential net budget impact                          Under credit reform scoring, the
                                                 year delay in the effective date on the                        related to borrower defense claims of                       modification to older cohorts for the
                                                 borrower defense provisions only is                            -$46.1 million in reduced costs for the                     automatic discharge provision estimated
                                                 approximately -$46.1 million from the                          affected cohorts. This represents the                       to cost $364 million was expected to
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                                                 2017 to 2019 loan cohorts.                                     incremental change associated with the                      occur in fiscal year (FY) 2017 in the
                                                    As the amount and composition of                            additional one-year delay from July 1,                      President’s Budget for FY 2018
                                                 borrower defense claims and estimated                          2018 to July 1, 2019. If compared to the                    (PB2018). As a result of the delay in the
                                                 recoveries over the lifetime of the                            PB2018 baseline, the savings would be                       effective date, the Department will not
                                                 relevant loan cohorts are not expected to                      approximately -$78.8 million.                               execute the modification in FY 2017.
                                                 change greatly due to the delayed                                 The closed school automatic                                 As indicated in the IFR, the
                                                 effective date, the Department does not                        discharge provisions were the other                         Department does expect to incur the
                                                 estimate an economically significant net                       significant source of estimated net                         costs associated with the three-year


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                                                                          Federal Register / Vol. 82, No. 204 / Tuesday, October 24, 2017 / Proposed Rules                                                     49159

                                                 automatic discharge after the delayed                            As the delay does not change the                    assumptions when the modification is
                                                 effective date, but moving the execution                      substance of the automatic discharge,                  executed.
                                                 of the modification beyond FY 2017 will                       we would expect the amount and                           Consistent with Executive Order
                                                 require a new cost analysis with                              composition of loans affected by the                   13771 (82 FR 9339, February 3, 2017),
                                                 economic assumptions from the fiscal                          automatic discharge not to change                      we have estimated that this proposed
                                                 year of the execution. This will result in                    significantly. The closed school three-                rule will result in cost savings.
                                                 a change of cost, but at this point it is                     year automatic discharge provisions                    Therefore, this proposed rule would be
                                                 not possible to know the discount rates                       were applicable to loans made on or                    considered an Executive Order 13771
                                                 in future fiscal years, so the cost of the                    after November 1, 2013, and were not                   deregulatory action.
                                                 modification will be determined in the                        linked to the effective date of the final
                                                                                                                                                                      Accounting Statement
                                                 year that it is executed. While the actual                    regulations. Therefore, delaying the
                                                 cost of the future modification cannot be                     effective date of those provisions will                   In evaluating whether a regulation is
                                                 determined at this time, the Department                       not change the set of loans eligible for               economically significant, a key
                                                 did approximate the effect of the delay                       this automatic discharge. Additionally,                consideration is whether the annual
                                                 by shifting the timing of the relevant                        borrowers would have the ability to                    effect in any given year is over $100
                                                 discharges back by a year and                                 apply for a closed school discharge                    million. To evaluate this, the
                                                 recalculating a modification using the                        before July 1, 2019, if they did not want              Department looked at the difference in
                                                 discount rates and economic                                   to wait for the automatic discharge to be              the undiscounted cashflows related to
                                                 assumptions used for the calculation of                       implemented. For future cohorts, the                   the death, disability, and bankruptcy
                                                 the PB2018 modification. When                                 delay is not significant as the three-year             (DDB) claims in which borrower defense
                                                 calculated in this manner, the delay in                       period will fall beyond the delayed                    claims are included for the one-year
                                                 the modification to July 2018 described                       effective date. Any significant change to              delay established in the IFR and the
                                                 in the IFR resulted in estimated savings                      the estimated net budget impact                        further one-year delay scenario
                                                 of less than $10 million. Using the same                      associated with the closed school                      described under Net Budget Impacts.
                                                 approach, the further delay to July 2019                      automatic discharge depends on any                     The difference from subtracting the
                                                 is expected to save approximately $15                         substantive changes made to the                        further delay scenario from the IFR one-
                                                 million above the savings from the                            provisions as a result of the upcoming                 year delay scenario for the 2017 to 2019
                                                 initial one-year delay.                                       rulemaking and changes to economic                     cohorts is summarized in Table 2.

                                                 TABLE 2—DIFFERENCE IN UNDISCOUNTED NET CASHFLOWS FOR THE 2017 TO 2019 LOAN COHORTS FROM THE FURTHER
                                                                     ONE-YEAR DELAY IN 2016 BORROWER DEFENSE RULE TO JULY 1, 2019
                                                                                                                                 FY 2017             FY 2018           FY 2019          FY 2020              FY 2021

                                                 Change in DDB Cashflow ....................................................                159             7,489         496,637          637,361              538,468

                                                                                                                                 FY 2022             FY 2023           FY 2024          FY 2025              FY 2026

                                                 Change in DDB Cashflow ....................................................      6,004,802              9,525,520       4,668,143       2,156,009            3,003,657



                                                   Table 3 shows the effects when those                        discounted at 7 and 3 percent and
                                                 differences in the DDB cashflows are                          annualized.

                                                                                                                 Category                                                                         Benefits

                                                 Institutions may not incur compliance costs or costs of obtaining financial protection until the rule is in effect. ..                     Not Quantified

                                                                                                                 Category                                                                          Costs

                                                                                                                                                                                          7%                   3%

                                                 Continued use of State-law based standard                                                                                                  Not Quantified
                                                 Delay in providing consumer information about institution’s performance and practices
                                                 Potential decreased awareness and usage of closed school and false certification discharges

                                                 Savings associated with delay in compliance with paperwork requirements. ........................................................             ¥9.5              ¥9.51

                                                                                                                 Category                                                                       Transfers

                                                                                                                                                                                          7%                   3%

                                                 Reduction in transfers from the Federal Government to affected borrowers in the 2017 to 2019 cohorts that
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                                                   would have been partially borne by affected institutions via reimbursements. ...................................................            ¥3.5                 ¥3.8

                                                 Reduced reimbursements from affected institutions to affected students, via the Federal government as loan
                                                   cohorts 2017 to 2019 are subject to the existing borrower defense regulation. .................................................             ¥1.2                 ¥1.3

                                                 Delay in closed school automatic discharge implementation from 2018 to 2019 ..................................................             ¥14.8                ¥14.8




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                                                 49160                          Federal Register / Vol. 82, No. 204 / Tuesday, October 24, 2017 / Proposed Rules

                                                 Paperwork Reduction Act of 1995                                             final regulations, the assessed estimated                                    The table below identifies the regulatory
                                                                                                                             burden was 253,136 hours, affecting                                          sections, OMB Control Numbers,
                                                   As indicated in the Paperwork                                             both institutions and individuals, with                                      estimated burden hours, and estimated
                                                 Reduction Act section published in the                                      an estimated annual cost of $9,458,484.                                      costs of the final regulations.

                                                                                                                                                                                                                                                 Estimated cost
                                                                                                                                                                                                                                                  $36.55/hour
                                                                                             Regulatory section                                                           OMB Control No.                         Burden hours                     institution
                                                                                                                                                                                                                                                  $16.30/hour
                                                                                                                                                                                                                                                   individual

                                                 668.14 ..............................................................................................................              1845–0022             1,953 ..............................            71,382
                                                 668.41 ..............................................................................................................              1845–0004             5,346 ..............................           195,396
                                                 668.171 ............................................................................................................               1845–0022             3,028 ..............................           110,673
                                                 668.175 ............................................................................................................               1845–0022             60,560 ............................          2,213,468
                                                 682.211 ............................................................................................................               1845–0020             5,784 ..............................           211,405
                                                 682.402 ............................................................................................................               1845–0020             1,838 ..............................            67,179
                                                 685.222 ............................................................................................................               1845–0142             249 (Individuals) ............                   4,059
                                                 685.222 ............................................................................................................               1845–0142             800 (Institutions) ............                 29,240
                                                 685.300 ............................................................................................................               1845–0143             179,362 ..........................           6,555,681

                                                     Total .........................................................................................................     ..............................   258,920 ..........................           9,458,484
                                                 Cost savings due to delayed effective date excluding 682.211 early imple-                                               ..............................   253,136 ..........................           9,247,079
                                                   mentation allowed.
                                                 Burden remaining ............................................................................................           ..............................   5,784 ..............................           211,405



                                                    This notice of proposed rulemaking                                         You may also access documents of the                                       POSTAL SERVICE
                                                 delays the effective date of the                                            Department published in the Federal
                                                 implementation of all of the cited                                          Register by using the article search                                         39 CFR Part 20
                                                 regulations and would result in a cost                                      feature at: www.federalregister.gov.
                                                 savings of the total amount of                                                                                                                           International Mailing Services:
                                                                                                                             Specifically, through the advanced
                                                 $9,458,484. However, § 682.211(i)(7) of                                                                                                                  Proposed Product and Price
                                                                                                                             search feature at this site, you can limit
                                                 the final regulations, regarding                                                                                                                         Changes—CPI
                                                                                                                             your search to documents published by
                                                 mandatory forbearance based on a                                            the Department.                                                              AGENCY:Postal ServiceTM.
                                                 borrower defense claim, with an
                                                                                                                             List of Subjects                                                                   Proposed rule with a request for
                                                                                                                                                                                                          ACTION:
                                                 estimated 5,784 hours and $211,405
                                                                                                                                                                                                          comments.
                                                 cost, as would continue to be designated
                                                 for early implementation. Lenders may                                       34 CFR Part 668
                                                                                                                                                                                                          SUMMARY:   The Postal Service proposes
                                                 have elected early implementation and,                                        Administrative practice and                                                to revise Mailing Standards of the
                                                 therefore, those specific costs and hours                                   procedure, Colleges and universities,                                        United States Postal Service,
                                                 remain applicable and have been                                             Consumer protection, Grant programs—                                         International Mail Manual (IMM®), to
                                                 subtracted from the overall estimated                                       education, Loan programs—education,                                          reflect changes in the prices, product
                                                 cost saving. Based on the delayed                                                                                                                        features, and classification changes to
                                                                                                                             Reporting and recordkeeping
                                                 effective date of July 1, 2019, the revised                                                                                                              Mailing Services. These changes would
                                                                                                                             requirements, Selective Service System,
                                                 estimated annual cost savings to                                                                                                                         also implement a restriction on the
                                                 institutions and individuals is                                             Student aid, Vocational education.
                                                                                                                                                                                                          contents of First-Class Mail
                                                 $9,247,079 ($9,458,484 ¥ $211,405)                                          34 CFR Part 674                                                              International® to documents only, to
                                                 with an estimated burden hours savings                                                                                                                   comply with standards established by
                                                 of 253,136 (258,920 ¥ 5,784).                                                 Loan programs—education, Reporting                                         the Universal Postal Union (UPU).
                                                    Accessible Format: Individuals with                                      and recordkeeping requirements,
                                                                                                                                                                                                          DATES: We must receive your comments
                                                 disabilities may obtain this document in                                    Student aid.
                                                 an accessible format (e.g., braille, large                                                                                                               on or before November 24, 2017.
                                                 print, audiotape, or compact disc) on                                       34 CFR Parts 682 and 685                                                     ADDRESSES: Mail or deliver comments to
                                                 request to the contact person listed                                                                                                                     the manager, Product Classification,
                                                                                                                               Administrative practice and                                                U.S. Postal Service®, 475 L’Enfant Plaza
                                                 under FOR FURTHER INFORMATION
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                                                 The official version of this document is                                    and recordkeeping requirements,                                              all written comments at USPS®
                                                 the document published in the Federal                                       Student aid, Vocational education.                                           Headquarters Library, 475 L’Enfant
                                                 Register. Free internet access to the                                         Dated: October 16, 2017.                                                   Plaza SW., 11th Floor N, Washington,
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                                                 and the Code of Federal Regulations is                                                                                                                   hours of 9 a.m. and 4 p.m., Monday
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                                                                                                                             Secretary of Education.
                                                 available via the Federal Digital System                                                                                                                 through Friday by calling 1–202–268–
                                                                                                                             [FR Doc. 2017–22850 Filed 10–20–17; 4:15 pm]
                                                 at: www.gpo.gov/fdsys. At this site, you                                                                                                                 2906 in advance. Email comments,
                                                 can view this document, as well as all                                      BILLING CODE 4000–01–P                                                       containing the name and address of the
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                                            VerDate Sep<11>2014         18:07 Oct 23, 2017         Jkt 244001       PO 00000       Frm 00017        Fmt 4702       Sfmt 4702      E:\FR\FM\24OCP1.SGM              24OCP1



Document Created: 2018-10-25 10:10:26
Document Modified: 2018-10-25 10:10:26
CategoryRegulatory Information
CollectionFederal Register
sudoc ClassAE 2.7:
GS 4.107:
AE 2.106:
PublisherOffice of the Federal Register, National Archives and Records Administration
SectionProposed Rules
ActionNotice of proposed rulemaking.
DatesWe must receive your comments on or before November 24, 2017.
ContactBarbara Hoblitzell, U.S. Department of Education, 400 Maryland Ave. SW., Mail Stop 6W248, Washington, DC 20202. Telephone: (202) 453-7583 or by email at: [email protected]
FR Citation82 FR 49155 
RIN Number1840-AD28
CFR Citation34 CFR 668
34 CFR 674
34 CFR 682
34 CFR 685
CFR AssociatedAdministrative Practice and Procedure; Colleges and Universities; Consumer Protection; Grant Programs-Education; Loan Programs-Education; Reporting and Recordkeeping Requirements; Selective Service System; Student Aid and Vocational Education

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