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Repeal of the William D. Ford Federal Direct Loan Program Subsidized Usage Limit Restriction

Education · education-loans · Published 2021-06-14 · Effective 2021-08-13 · 86 FR 31432

Document

Document number
2021-12384
Federal Register citation
86 FR 31432
CFR reference
34 CFR 685
Type
Rule
Action
Final regulations.
Category
education-loans
Agency
US Department of Education
Publication date
2021-06-14
Effective date
2021-08-13

Abstract

The Secretary removes and amends regulations to conform with changes made by the Consolidated Appropriations Act, 2021. Specifically, the Secretary removes the subsidized usage loan limit restriction (SULA) for any borrower who receives a Federal Direct Stafford Subsidized Loan first disbursed on or after July 1, 2021, regardless of the award year associated with the loan. In addition, all subsidy benefits will be reinstated retroactively to the date on which the loss of subsidy was applied for all Federal Direct Stafford Subsidized Loans with an outstanding balance on July 1, 2021, and for all award years since the 2013-2014 award year. The Secretary also removes regulations related to the subsidized usage loan limit restriction and makes other technical changes.

Source

Authoritative
Federal Register document
Machine
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