Speak Up: Help Shape Affordable Student Loan Payment Rules
Published Date: 5/5/2026
Notice
Summary
The Department of Education wants your thoughts on updating how they collect info about making student loan payments reasonable and affordable. If you have a federal student loan, these changes could affect how you prove your payments fit your budget. You’ve got until July 6, 2026, to share your ideas—so don’t miss out on shaping the future of loan help!
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Analyzed Economic Effects
2 provisions identified: 1 benefits, 1 costs, 0 mixed.
New loan-rehab financial form
If you have a defaulted Direct Loan or FFEL federal student loan, the Department will revise the form that collects your standardized financial information so it can set a “reasonable and affordable” monthly payment that could let you rehabilitate the loan. These revisions reflect statutory changes from the One Big Beautiful Bill Act signed July 4, 2025 and will apply for the 2026-27 award year, with additional form changes planned for the 2027-28 award year.
Estimated paperwork burden
The Department estimates the revised collection will produce 139,000 annual responses and 139,000 total annual burden hours from individuals or households responding to the form. If you are a borrower with a defaulted federal student loan, you may be among those asked to provide this information, and the Department seeks public comment by July 6, 2026.
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