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Responses to questions submitted that were relevant to responding to the solicitation have been provided herein.

The March 10, 2015 Presidential Memorandum, “A Student Aid Bill of Rights to Help Ensure Affordable Loan Repayment” (Presidential Memorandum), directed an interagency task force (Task Force) consisting of the Department of the Treasury, Department of Education, Office of Management and Budget, and Domestic Policy Council to monitor trends in the student loan portfolio, budget costs, and borrower assistance efforts.

This memorandum provides guidance (Guidance) to Department of Justice (Department) attorneys regarding requests to discharge student loans in bankruptcy cases. Developed in coordination with the Department of Education (Education), this Guidance will enhance consistency and equity in the handling of these cases.

The LIBOR is a benchmark index, also known as a reference rate, that is commonly used in millions of adjustable rate mortgages, home equity lines of credit (HELOCs), and student loans. Although it is still widely used, the index will no longer be available in its current form after June 30, 2023 and will cease to exist entirely on September 30, 2024. That means creditors and servicers will need to find and implement a replacement index for every contract still using the LIBOR at that time. This change should not require consumers to take any action.

This letter provides information that supplements the FAFSA Simplification Act information provided in the Federal Register notice published on Nov. 4, 2022, regarding new policies that become effective for the 2023-24 Award Year. We will continue to address other aspects of the FAFSA Simplification Act implementation in the future.

After considering public comments, the Consumer Financial Protection Bureau (CFPB) has determined that commercial financing disclosure laws in California, New York, Utah, and Virginia are not preempted by the Truth in Lending Act.

This is a prior version of Regulation X, effective until January 10, 2014.

 Letter from Robin S. Minor, Acting Director, Admin. Actions & Appeals Serv. Grp., U.S. Dep’t of Educ., to Jack Massimo, Chairman & CEO, Corinthian Colls., Inc. (Apr. 14, 2015). The Department is taking this fine action pursuant to 20 U.S.C. § 1094 and 34 C.F.R. § 668.84.