AACS' GRC Nominates Two Primary Negotiators for 2015 "Pay As You Earn" Federal Negotiated Rulemaking
Last Tuesday, January 20, 2015, the AACS Government Relations Committee proudly submitted two nominees – Chris DeLuca, Founder of DeLuca Law and Mary Lyn Hammer, President and CEO of Champion College Services - for Secretary and Department of Education consideration as primary negotiators in the 2015 "Pay As You Earn" Federal Negotiated Rulemaking sessions.
The GRC chose to promote candidates from two specific constituencies – For-profit Institutions of Higher Education & Institutional Third-Party Servicers – given their level of expertise and experience associated with the two highly technical and specific issues slated for the negotiations. As outlined in AACS' Nomination Letter, we believe both of our nominees possess the knowledge needed to assist the Department and the higher education community in the development of regulations implementing the President's "Pay As You Earn" repayment plan and revisions to the regulations to ensure that all active duty military receive the full benefits of capped student loan interest rates under the Servicemembers Civil Relief Act.
While offering our support for the negotiations and presenting our nominees, AACS made it clear that we would object to expansion of the regulatory agenda for this session to include other issues not germane to loan repayment, servicing, and collection related activities. While acknowledging attempts made by individuals providing testimony at the two regional field hearings to broaden the scope of the negotiations to include other issues (specifically targeted at for-profit institutional reforms), your GRC urged the Department to remain focused on only the two topics published in the Department's December 19, 2014 Notice and Request for Nominations. (Read the letter here).
We anticipate that the Department will make their selections within the next two weeks and will notify those individuals selected for participation by mid-February in advance of the first of three, three-day sessions beginning on Tuesday, February 24, 2015.