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Congress has granted the Office very clear authority to produce cash flow-contingent repayment ideas beneath the HEA. Exclusively, Sec. 455(e)(4)?[19] on the HEA gives that the Secretary shall problem polices to establish money-contingent repayment schedules that demand payments that range in relation to the borrowers' yearly cash flow. The statute
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We concur which the Office should really present unique forbearance position codes to lenders and loan servicers. That is an operational problem that does not should be resolved during the rule. However, provided the remark we need to clarify how this provision will probably be executed for borrowers. The Department will only be utilizing this trea