Provision Included In Legislation Makes Recertification Simpler for Borrowers in IDR Plans

The Student Loan Servicing Alliance (SLSA) supports the bipartisan agreement passed in the Senate today to amend the FUTURE Act to fund HBCUs and MSIs, simplify the FAFSA process, and allow for data sharing with the IRS to allow for simplified and multi-year renewal of IDR certifications, among other provisions. Some of these changes we have long supported, but we must also ensure the IRS provides an enhanced process for verifying information for older loans and borrowers in addition to the new flexibility for DL servicers in the bill, so all servicers can provide improved customer experience. This bill is strong step forward to improving federal student aid programs.