[Federal Register Volume 77, Number 236 (Friday, December 7, 2012)]
[Rules and Regulations]
[Page 72960]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2012-29525]



[[Page 72960]]

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DEPARTMENT OF EDUCATION

34 CFR Part 685

RIN 1840-AD05
[Docket ID ED-2012-OPE-0010]


William D. Ford Federal Direct Loan Program

AGENCY: Office of Postsecondary Education, Department of Education.

ACTION: Announcement of early implementation date.

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SUMMARY: The U.S. Department of Education (Department) issues this 
document to establish the date for the early implementation of William 
D. Ford Federal Direct Loan (Direct Loan) program regulations that 
establish a new income-contingent repayment plan based on the 
President's ``Pay As You Earn'' repayment initiative (the Pay As You 
Earn repayment plan).

DATES: The early implementation date for Sec. Sec.  685.208(k)(1) and 
685.209(a), published November 1, 2012 (77 FR 66087), is December 21, 
2012.

FOR FURTHER INFORMATION CONTACT: For information about the Pay As You 
Earn repayment plan or how to apply for Pay As You Earn repayment, the 
Federal Student Aid Information Center (FSAIC) at 1-800-4FEDAID (1-800-
433-3243). For information on the establishment of the early 
implementation date, Jeff Baker at 1-202-377-3000.
    If you use a telecommunications device for the deaf (TDD) or a text 
telephone (TTY), call the Federal Relay Service (FRS), toll free, at 1-
800-877-8339.

SUPPLEMENTARY INFORMATION: 

Background

    Section 482(c) of the Higher Education Act of 1965, as amended 
(HEA), requires that regulations affecting programs under title IV of 
the HEA be published in final form by November 1 prior to the start of 
the award year (July 1) to which they apply. However, that section also 
permits the Secretary to designate any regulation as one that an entity 
subject to the regulations may choose to implement earlier and the 
conditions for early implementation.
    On November 1, 2012, the Department issued final regulations in 34 
CFR part 685 for the Pay As You Earn repayment plan (77 FR 66087). In 
the preamble to the final regulations, the Secretary announced the 
Department's intent to implement the new Direct Loan program 
regulations establishing the Pay As You Earn repayment plan as soon as 
possible.

Implementation Date of These Regulations

    The Secretary is exercising the authority under section 482(c) of 
the HEA to designate the following amended regulations in 34 CFR part 
685 for early implementation beginning on December 21, 2012, at the 
discretion of individual borrowers:
    (1) Sec.  685.208(k)(1).
    (2) Sec.  685.209(a).
    If a borrower elects to implement the Pay As You Earn repayment 
plan early in accordance with this notice, the borrower will have the 
rights and be subject to the obligations under both Sec. Sec.  
685.208(k)(1) and 685.209(a). To implement the Pay As You Earn Plan 
early, a Direct Loan borrower must request to repay his or her eligible 
loans under that plan.
    Accessible Format: Individuals with disabilities can obtain this 
document in an accessible format (e.g., braille, large print, 
audiotape, or compact disc) on request to one of the contact persons 
listed under FOR FURTHER INFORMATION CONTACT.
    Electronic Access to This Document: The official version of this 
document is the document published in the Federal Register. Free 
Internet access to the official edition of the Federal Register and the 
Code of Federal Regulations is available via the Federal Digital System 
at: www.gpo.gov/fdsys. At this site you can view this document, as well 
as all other documents of this Department published in the Federal 
Register, in text or Adobe Portable Document Format (PDF). To use PDF 
you must have Adobe Acrobat Reader, which is available free at the 
site.
    You may also access documents of the Department published in the 
Federal Register by using the article search feature at: 
www.federalregister.gov. Specifically, through the advanced search 
feature at this site, you can limit your search to documents published 
by the Department.

(Catalog of Federal Domestic Assistance Number: 84.268.)

    Dated: December 3, 2012.
Arne Duncan,
Secretary of Education.
[FR Doc. 2012-29525 Filed 12-6-12; 8:45 am]
BILLING CODE 4000-01-P