Regulatory changes

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As a result of recent legislative changes, there are a number of new requirements for the federal student aid programs. Many of these  changes became effective on July 1, 2012.

The enactment of the Consolidated Appropriations Act, 2012 will affect the following:

  • Auto-Zero Income Threshold
  • Ability-to-Benefit
  • 2012-2013 Federal Pell Grant Amounts
  • Minimum Federal Pell Grant Award and Maximum EFC
  • Federal Pell Grant Duration of Eligibility
  • Grace Period Interest Subsidy
  • Calculation of Special Allowance Payments

For more detailed information regarding the impact of the Consolidation Appropriations Act, 2012 see GEN-12-01.

As explained in GEN-11-16 and GEN-12-04, the Budget Control Act of 2011 made two changes to the William D. Ford Federal Direct Loan (Direct Loan) Program. Specifically, the Budget Control Act eliminated the Up-Front Interest Rebate effective for all Direct Loans first disbursed on or after July 1, 2012, and eliminated graduate or professional eligibility for Direct Subsidized Loans effective for loans with loan periods beginning on or after July 1, 2012.

 

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