On April 19, 2022, Education Finance Council (EFC), the National Council of Higher Education Resources (NCHER), and the Student Loan Servicing Alliance (SLSA) issued the following is a joint statement provided in response to the Department’s announcement that it will begin a one-time revision of Income Driven Repayment (IDR) payments to address past inaccuracies.
“EFC, NCHER, and SLSA strongly believe that borrowers meeting the requirements for IDR plans should receive
every penny of loan forgiveness for which they are eligible. Our members fully support borrowers receiving the
benefits for which they are eligible under current law, federal regulations, implementation guidance, and
requirements set forward by the Department of Education and FSA [Federal Student Aid]. Tomorrow’s report by
the GAO [Government Accountability Office] is expected to outline some of the issues we have long asked for
FSA to fix.”