Repeal of the William D. Ford Federal Direct Loan Program Subsidized Usage Limit Restriction – Federal Register (Unpublished)
Repeal of the William D. Ford Federal Direct Loan Program Subsidized Usage Limit Restriction
AGENCY: Office of Postsecondary Education, Department of Education.
ACTION: Final regulations.
SUMMARY: 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.
DATES: Effective date: [INSERT DATE 60 DAYS AFTER DATE OF PUBLICATION IN THE FEDERAL REGISTER].