Department of Education: William D. Ford Federal Direct Loan Program
GAO-14-383R: Feb 24, 2014
- Full Report:
GAO reviewed the Department of Education's (Education) new rule on the William D. Ford Federal Direct Loan Program. GAO found that (1) the final rule amends the regulations governing the William D. Ford Federal Direct Loan Program to implement the Moving Ahead for Progress in the 21st Century Act, which amended the Higher Education Act of 1965. Specifically, this final rule makes certain modifications to an interim final rule published by Education in May 2013. Among other changes, this final rule modifies the rounding rule for borrowers' subsidized usage periods, modifies the calculation of the subsidized usage period for certain borrowers enrolled on a part-time basis, and modifies the calculation of the maximum eligibility period for 2-year baccalaureate degree programs; and (2) with the exception of the 60-day delay in effective date requirement, Education complied with applicable requirements in promulgating the rule.