Annual Updates to the Income Contingent Repayment (ICR) Plan Formula for 2019-William D. Ford Federal Direct Loan Program, 23539-23543 [2019-10623]

Download as PDF Federal Register / Vol. 84, No. 99 / Wednesday, May 22, 2019 / Notices www.regulations.gov as they are received without change, including any personal identifiers or contact information. jbell on DSK3GLQ082PROD with NOTICES FOR FURTHER INFORMATION CONTACT: To request more information on this proposed information collection or to obtain a copy of the proposal and associated collection instruments, please write to Program Executive Officer for Enterprise Information Systems (PEO EIS); Enterprise Systems and Services (PMW 250), 701 South Courthouse Road, Suite 1400, Arlington, VA 22204, Attn: Frank Sowa, 757–541– 5850. SUPPLEMENTARY INFORMATION: Title; Associated Form; and OMB Number: Risk Management Information (RMI) system; OPNAV 3750/16 Safety Investigation Report Enclosure (Promise of Confidentiality) Advice to Witness, OPNAV 5102/10 Advice to Witness, OPNAV 5102/11 Advice to Witness (Promise of Confidentiality); OMB Control Number 0703–0065. Needs and Uses: The information collection requirement is necessary to collect information on injuries/fatalities, occupational illnesses required of Federal governmental agencies by the Occupational Safety and Health Administration (OSHA), and pertinent information for property damage occurring during DON operations. The data maintained in this system will be used for analytical purposes to improve the DON’s accident prevention policies, procedures, standards and operations, as well as to ensure internal data quality assurance. The collection will also help to ensure that all individuals receive required safety, fire, security, force protection, and emergency management training courses necessary to perform assigned duties and comply with Federal, DoD, and DON related regulations. Affected Public: Individuals and Household, Federal Government. Annual Burden Hours: 37.5 Hours. Number of Respondents: 25. Responses per Respondent: 1. Annual Responses: 25. Average Burden per Response: 1.5 Hours. Frequency: On Occasion. Respondents are Federal contractors who are involved in an incident or mishap while performing duties in support of a DON contract, or while in/ on a DON base, building, vessel, vehicle, or other facility; Military retirees and foreign nationals who are involved in an incident while in/on a DON base, building, vessel, vehicle, or other facility; Military dependents who are involved in an incident while in/on VerDate Sep<11>2014 17:29 May 21, 2019 Jkt 247001 a DON base, building, vessel, vehicle, or other facility, or while accompanying their military sponsor. Dated: May 16, 2019. Aaron T. Siegel, Alternate OSD Federal Register Liaison Officer, Department of Defense. [FR Doc. 2019–10646 Filed 5–21–19; 8:45 am] BILLING CODE 5001–06–P DEPARTMENT OF EDUCATION Annual Updates to the Income Contingent Repayment (ICR) Plan Formula for 2019—William D. Ford Federal Direct Loan Program Federal Student Aid, Department of Education. ACTION: Notice. AGENCY: The Secretary announces the annual updates to the ICR plan formula for 2019 to give notice to borrowers and the public regarding how monthly ICR payment amounts will be calculated for the 2019–2020 year under the William D. Ford Federal Direct Loan (Direct Loan) Program, Catalog of Federal Domestic Assistance number 84.063. DATES: The adjustments to the income percentage factors for the ICR plan formula contained in this notice are applicable from July 1, 2019, to June 30, 2020, for any borrower who enters the ICR plan or has his or her monthly payment amount recalculated under the ICR plan during that period. FOR FURTHER INFORMATION CONTACT: Ian Foss, U.S. Department of Education, 830 First Street NE, Room 113H2, Washington, DC 20202. Telephone: (202) 377–3681. Email: ian.foss@ed.gov. If you use a telecommunications device for the deaf (TDD) or a text telephone (TTY), call the Federal Relay Service, toll free, at 1–800–877–8339. SUPPLEMENTARY INFORMATION: Under the Direct Loan Program, borrowers may choose to repay their non-defaulted loans (Direct Subsidized Loans, Direct Unsubsidized Loans, Direct PLUS Loans made to graduate or professional students, and Direct Consolidation Loans) under the ICR plan. The ICR plan bases the borrower’s repayment amount on the borrower’s income, family size, loan amount, and the interest rate applicable to each of the borrower’s loans. ICR is one of several income-driven repayment plans. Other income-driven repayment plans include the IncomeBased Repayment (IBR) plan, the Pay As You Earn Repayment (PAYE) plan, and the Revised Pay As You Earn Repayment (REPAYE) plan. The IBR, SUMMARY: PO 00000 Frm 00018 Fmt 4703 Sfmt 4703 23539 PAYE, and REPAYE plans provide lower payment amounts than the ICR plan for most borrowers. A Direct Loan borrower who repays his or her loans under the ICR plan pays the lesser of: (1) The amount that he or she would pay over 12 years with fixed payments multiplied by an income percentage factor; or (2) 20 percent of discretionary income. Each year, to reflect changes in inflation, we adjust the income percentage factor used to calculate a borrower’s ICR payment, as required by 34 CFR 685.209(b)(1)(ii)(A). We use the adjusted income percentage factors to calculate a borrower’s monthly ICR payment amount when the borrower initially applies for the ICR plan or when the borrower submits his or her annual income documentation, as required under the ICR plan. This notice contains the adjusted income percentage factors for 2019, examples of how the monthly payment amount in ICR is calculated, and charts showing sample repayment amounts based on the adjusted ICR plan formula. This information is included in the following three attachments: • Attachment 1—Income Percentage Factors for 2019 • Attachment 2—Examples of the Calculations of Monthly Repayment Amounts • Attachment 3—Charts Showing Sample Repayment Amounts for Single and Married Borrowers In Attachment 1, to reflect changes in inflation, we updated the income percentage factors that were published in the Federal Register on August 2, 2018 (83 FR 37802). Specifically, we have revised the table of income percentage factors by changing the dollar amounts of the incomes shown by a percentage equal to the estimated percentage change between the notseasonally-adjusted Consumer Price Index for all urban consumers for December 2018 and December 2019. The income percentage factors reflected in Attachment 1 may cause a borrower’s payments to be lower than they were in prior years, even if the borrower’s income is the same as in the prior year. The revised repayment amount more accurately reflects the impact of inflation on the borrower’s current ability to repay. Accessible Format: Individuals with disabilities can obtain this document in an accessible format (e.g., braille, large print, audiotape, or compact disc) on request to the contact person listed under FOR FURTHER INFORMATION CONTACT. Electronic Access to This Document: The official version of this document is E:\FR\FM\22MYN1.SGM 22MYN1 23540 Federal Register / Vol. 84, No. 99 / Wednesday, May 22, 2019 / Notices the document published in the Federal Register. You may access the official edition of the Federal Register and the Code of Federal Regulations at www.govinfo.gov. At this site, you can view this document, as well as all other documents of this Department published in the Federal Register, in text or Portable Document Format (PDF). To use PDF, you must have Adobe Acrobat Reader, which is available free at this site. You may also access documents of the Department published in the Federal Register by using the article search feature at www.federalregister.gov. Specifically, through the advanced search feature at this site, you can limit your search to documents published by the Department. Program Authority: 20 U.S.C. 1087 et seq. Mark A. Brown, Chief Operating Officer, Federal Student Aid. Attachment 1—Income Percentage Factors for 2019 INCOME PERCENTAGE FACTORS FOR 2019 Single Married/head of household Income % Factor $12,147 ..................................................................... $16,714 ..................................................................... $21,506 ..................................................................... $26,407 ..................................................................... $31,087 ..................................................................... $36,989 ..................................................................... $46,460 ..................................................................... $58,269 ..................................................................... $70,081 ..................................................................... $84,229 ..................................................................... $107,852 ................................................................... $152,755 ................................................................... $175,147 ................................................................... $311,967 ................................................................... jbell on DSK3GLQ082PROD with NOTICES Attachment 2—Examples of the Calculations of Monthly Repayment Amounts General notes about the examples in this attachment: • We have a calculator that borrowers can use to estimate what their payment amounts would be under the ICR plan. The calculator is called the ‘‘Repayment Estimator’’ and is available at StudentAid.gov/repayment-estimator. Based on information inputted into the calculator by the borrower (for example, income, family size, and tax filing status), this calculator provides a detailed, individualized assessment of a borrower’s loans and repayment plan options, including the ICR plan. • The interest rates used in the examples are for illustration only. The actual interest rates on an individual borrower’s Direct Loans depend on the loan type and when the postsecondary institution first disbursed the Direct Loan to the borrower. • The Poverty Guideline amounts used in the examples are from the 2019 U.S. Department of Health and Human Services (HHS) Poverty Guidelines for the 48 contiguous States and the District of Columbia. Different Poverty Guidelines apply to residents of Alaska and Hawaii. The Poverty Guidelines for 2019 were published in the Federal Register on February 1, 2019 (84 FR 1167). • All of the examples use an income percentage factor corresponding to an VerDate Sep<11>2014 17:29 May 21, 2019 Jkt 247001 55.00 57.79 60.57 66.23 71.89 80.33 88.77 100.00 100.00 111.80 123.50 141.20 150.00 200.00 Income $12,147 .................................................................... $19,165 .................................................................... $22,839 .................................................................... $29,858 .................................................................... $36,989 .................................................................... $46,460 .................................................................... $58,268 .................................................................... $70,081 .................................................................... $87,800 .................................................................... $117,322 .................................................................. $158,657 .................................................................. $221,889 .................................................................. $362,583 .................................................................. adjusted gross income (AGI) in the table in Attachment 1. If an AGI is not listed in the income percentage factors table in Attachment 1, the applicable income percentage can be calculated by following the instructions under the ‘‘Interpolation’’ heading later in this attachment. • Married borrowers may repay their Direct Loans jointly under the ICR plan. If a married couple elects this option, we add the outstanding balance on the Direct Loans of each borrower and we add together both borrowers’ AGIs to determine a joint ICR payment amount. We then prorate the joint payment amount for each borrower based on the proportion of that borrower’s debt to the total outstanding balance. We bill each borrower separately. • For example, if a married couple, John and Sally, has a total outstanding Direct Loan debt of $60,000, of which $40,000 belongs to John and $20,000 to Sally, we would apportion 67 percent of the monthly ICR payment to John and the remaining 33 percent to Sally. To take advantage of a joint ICR payment, married couples need not file taxes jointly; they may file separately and subsequently provide the other spouse’s tax information to the borrower’s Federal loan servicer. Calculating the monthly payment amount using a standard amortization and a 12-year repayment period. The formula to amortize a loan with a standard schedule (in which each PO 00000 Frm 00019 Fmt 4703 % Factor Sfmt 4703 50.52 56.68 59.56 67.79 75.22 87.61 100.00 100.00 109.40 125.00 140.60 150.00 200.00 payment is the same over the course of the repayment period) is as follows: M = P × <(I ÷ 12) ÷ [1¥{1 + (I ÷ 12)} ∧¥N]> In the formula— • M is the monthly payment amount; • P is the outstanding principal balance of the loan at the time the calculation is performed; • I is the annual interest rate on the loan, expressed as a decimal (for example, for a loan with an interest rate of 6 percent, 0.06); and • N is the total number of months in the repayment period (for example, for a loan with a 12-year repayment period, 144 months). For example, assume that Billy has a $10,000 Direct Unsubsidized Loan with an interest rate of 6 percent. Step 1: To solve for M, first simplify the numerator of the fraction by which we multiply P, the outstanding principal balance. To do this divide I, the interest rate, as a decimal, by 12. In this example, Billy’s interest rate is 6 percent. As a decimal, 6 percent is 0.06. • 0.06 ÷ 12 = 0.005 Step 2: Next, simplify the denominator of the fraction by which we multiply P. To do this divide I, the interest rate, as a decimal, by 12. Then, add one. Next, raise the sum of the two figures to the negative power that corresponds to the length of the repayment period in months. In this example, because we are amortizing a loan to calculate the monthly payment E:\FR\FM\22MYN1.SGM 22MYN1 jbell on DSK3GLQ082PROD with NOTICES Federal Register / Vol. 84, No. 99 / Wednesday, May 22, 2019 / Notices amount under the ICR plan, the applicable figure is 12 years, which is 144 months. Finally, subtract the result from one. • 0.06 ÷ 12 = 0.005 • 1 + 0.005 = 1.005 • 1.005 ∧ ¥144 = 0.48762628 • 1¥0.48762628 = 0.51237372 Step 3: Next, resolve the fraction by dividing the result from Step 1 by the result from Step 2. • 0.005 ÷ 0.51237372 = 0.0097585 Step 4: Finally, solve for M, the monthly payment amount, by multiplying the outstanding principal balance of the loan by the result of Step 3. • $10,000 × 0.0097585 = $97.59 The remainder of the examples in this attachment will only show the results of the formula. Example 1. Brenda is single with no dependents and has $15,000 in Direct Subsidized and Unsubsidized Loans. The interest rate on Brenda’s loans is 6 percent, and she has an AGI of $31,087. Step 1: Determine the total monthly payment amount based on what Brenda would pay over 12 years using standard amortization. To do this, use the formula that precedes Example 1. In this example, the monthly payment amount would be $146.38. Step 2: Multiply the result of Step 1 by the income percentage factor shown in the income percentage factors table (see Attachment 1 to this notice) that corresponds to Brenda’s AGI. In this example, an AGI of $31,087 corresponds to an income percentage factor of 71.89 percent. • 0.7189 × $146.38 = $105.23 Step 3: Determine 20 percent of Brenda’s discretionary income and divide by 12 (discretionary income is AGI minus the HHS Poverty Guideline amount for a borrower’s family size and State of residence). For Brenda, subtract the Poverty Guideline amount for a family of one from her AGI, multiply the result by 20 percent, and then divide by 12: • $31,087¥$12,490 = $18,597 • $18,597 × 0.20 = $3,719.40 • $3,719.40 ÷ 12 = $309.95 Step 4: Compare the amount from Step 2 with the amount from Step 3. The lower of the two will be the monthly ICR payment amount. In this example, Brenda will be paying the amount calculated under Step 2 ($105.23). Note: Brenda would have a lower payment under other income-driven repayment plans. Specifically, Brenda’s payment would be $102.93 under the PAYE and REPAYE plans. However, Brenda’s payment would be VerDate Sep<11>2014 17:29 May 21, 2019 Jkt 247001 $154.40 under the IBR plan, which is higher than the payment she would have under the ICR plan. Example 2. Joseph is married to Susan and has no dependents. They file their Federal income tax return jointly. Joseph has a Direct Loan balance of $10,000, and Susan has a Direct Loan balance of $15,000. The interest rate on all of the loans is 6 percent. Joseph and Susan have a combined AGI of $87,800 and are repaying their loans jointly under the ICR plan (for general information regarding joint ICR payments for married couples, see the fifth and sixth bullets under the heading ‘‘General notes about the examples in this attachment’’). Step 1: Add Joseph’s and Susan’s Direct Loan balances to determine their combined aggregate loan balance: • $10,000 + $15,000 = $25,000 Step 2: Determine the combined monthly payment amount for Joseph and Susan based on what both borrowers would pay over 12 years using standard amortization. To do this, use the formula that precedes Example 1. In this example, the combined monthly payment amount would be $243.96. Step 3: Multiply the result of Step 2 by the income percentage factor shown in the income percentage factors table (see Attachment 1 to this notice) that corresponds to Joseph and Susan’s combined AGI. In this example, the combined AGI of $87,800 corresponds to an income percentage factor of 109.40 percent. • 1.094 × $243.96 = $266.90 Step 4: Determine 20 percent of Joseph and Susan’s combined discretionary income (discretionary income is AGI minus the HHS Poverty Guideline amount for a borrower’s family size and State of residence). To do this, subtract the Poverty Guideline amount for a family of two from the combined AGI, multiply the result by 20 percent, and then divide by 12: • $87,800¥$16,910 = $70,890 • $70,890 × 0.20 = $14,178.00 • $14,178.00 ÷ 12 = $1,181.50 Step 5: Compare the amount from Step 3 with the amount from Step 4. The lower of the two will be Joseph and Susan’s joint monthly payment amount. Joseph and Susan will jointly pay the amount calculated under Step 3 ($266.90). Note: For Joseph and Susan, the ICR plan provides the lowest monthly payment of all of the income-driven repayment plans. Joseph and Susan would not be eligible for the IBR or PAYE plans, and would have a combined monthly payment under the REPAYE plan of $520.29. PO 00000 Frm 00020 Fmt 4703 Sfmt 4703 23541 Step 6: Because Joseph and Susan are jointly repaying their Direct Loans under the ICR plan, the monthly payment amount calculated under Step 5 applies to both Joseph’s and Susan’s loans. To determine the amount for which each borrower will be responsible, prorate the amount calculated under Step 4 by each spouse’s share of the combined Direct Loan debt. Joseph has a Direct Loan debt of $10,000 and Susan has a Direct Loan debt of $15,000. For Joseph, the monthly payment amount will be: • $10,000 ÷ ($10,000 + $15,000) = 40 percent • 0.40 × $266.90 = $106.76 For Susan, the monthly payment amount will be: • $15,000 ÷ ($10,000 + $15,000) = 60 percent • 0.60 × $266.90 = $160.14 Example 3. David is single with no dependents and has $60,000 in Direct Subsidized and Unsubsidized Loans. The interest rate on all of the loans is 6 percent, and David’s AGI is $36,989. Step 1: Determine the total monthly payment amount based on what David would pay over 12 years using standard amortization. To do this, use the formula that precedes Example 1. In this example, the monthly payment amount would be $585.51. Step 2: Multiply the result of Step 1 by the income percentage factor shown in the income percentage factors table (see Attachment 1 to this notice) that corresponds to David’s AGI. In this example, an AGI of $36,989 corresponds to an income percentage factor of 80.33 percent. • 0.8033 × $585.51 = $470.34 Step 3: Determine 20 percent of David’s discretionary income and divide by 12 (discretionary income is AGI minus the HHS Poverty Guideline amount for a borrower’s family size and State of residence). To do this, subtract the Poverty Guideline amount for a family of one from David’s AGI, multiply the result by 20 percent, and then divide by 12: • $36,989 ¥ $12,490 = $24,499.00 • $24,499 × 0.20 = $4,899.80 • $4,899.90 ÷ 12 = $408.32 Step 4: Compare the amount from Step 2 with the amount from Step 3. The lower of the two will be David’s monthly payment amount. In this example, David will be paying the amount calculated under Step 3 ($408.32). Note: David would have a lower payment under each of the other income-driven plans. Specifically, David’s payment would be $152.12 under the PAYE and REPAYE plans and $228.18 under the IBR plan. E:\FR\FM\22MYN1.SGM 22MYN1 23542 Federal Register / Vol. 84, No. 99 / Wednesday, May 22, 2019 / Notices Interpolation. If an income is not included on the income percentage factor table, calculate the income percentage factor through linear interpolation. For example, assume that Joan is single with an income of $50,000. Step 1: Find the closest income listed that is less than Joan’s income of $50,000 ($46,460) and the closest income listed that is greater than Joan’s income of $50,000 ($58,269). Step 2: Subtract the lower amount from the higher amount (for this discussion we will call the result the ‘‘income interval’’): • $58,269¥$46,460 = $11,809 Step 3: Determine the difference between the two income percentage factors that correspond to the incomes used in Step 2 (for this discussion, we will call the result the ‘‘income percentage factor interval’’): • 100.00 percent¥88.77 percent = 11.23 percent Step 4: Subtract from Joan’s income the closest income shown on the chart that is less than Joan’s income of $50,000: Attachment 3—Charts Showing Sample Income-Driven Repayment Amounts for Single and Married Borrowers • $50,000¥$46,460 = $3,540 Step 5: Divide the result of Step 4 by the income interval determined in Step 2: • $3,540 ÷ $11,809 = 29.98 percent Step 6: Multiply the result of Step 5 by the income percentage factor interval: • 11.23 percent × 29.98 percent = 3.37 percent Step 7: Add the result of Step 6 to the lower of the two income percentage factors used in Step 3 to calculate the income percentage factor interval for $50,000 in income: • 3.37 percent + 88.77 percent = 92.14 percent (rounded to the nearest hundredth) The result is the income percentage factor that we will use to calculate Joan’s monthly repayment amount under the ICR plan. Below are two charts that provide first-year payment amount estimates for a variety of loan debt sizes and incomes under all of the income-driven repayment plans and the 10-Year Standard Repayment Plan. The first chart is for single borrowers who have a family size of one. The second chart is for a borrower who is married or a head of household and who has a family size of three. The calculations in Attachment 3 assume that the loan debt has an interest rate of 6 percent. For married borrowers, the calculations assume that the borrower files a joint Federal income tax return with his or her spouse and that the borrower’s spouse does not have Federal student loans. A field with a ‘‘-’’ character indicates that the borrower in the example would not be eligible to enter the applicable income-driven repayment plan based on the borrower’s income, loan debt, and family size. SAMPLE FIRST-YEAR MONTHLY REPAYMENT AMOUNTS FOR A SINGLE BORROWER Family Size = 1 Income Initial Debt ............. Plan $20,000 40,000 60,000 80,000 100,000 $20,000 ICR ....................... IBR ........................ PAYE .................... REPAYE ............... 10-Year Standard ICR ....................... IBR ........................ PAYE .................... REPAYE ............... 10-Year Standard ICR ....................... IBR ........................ PAYE .................... REPAYE ............... 10-Year Standard ICR ....................... IBR ........................ PAYE .................... REPAYE ............... 10-Year Standard ICR ....................... IBR ........................ PAYE .................... REPAYE ............... 10-Year Standard $117 16 11 11 222 125 16 11 11 444 125 16 11 11 666 125 16 11 11 888 125 16 11 11 1,110 $40,000 $60,000 $80,000 $100,000 $162 ........................ 177 177 222 324 266 177 177 444 459 266 177 177 666 459 266 177 177 888 459 266 177 177 1,110 $195 ........................ ........................ 344 222 344 ........................ 344 344 444 586 516 344 344 666 781 516 344 344 888 792 516 344 344 1,110 $211 ........................ ........................ 511 222 423 ........................ ........................ 511 444 634 ........................ 511 511 666 845 766 511 511 888 1,057 766 511 511 1,110 $233 ........................ ........................ 677 222 472 ........................ ........................ 682 444 700 ........................ ........................ 677 666 934 ........................ 677 677 888 1,167 1,016 677 677 1,110 SAMPLE FIRST-YEAR MONTHLY REPAYMENT AMOUNTS FOR A MARRIED OR HEAD-OF-HOUSEHOLD BORROWER jbell on DSK3GLQ082PROD with NOTICES Family Size = 3 Income Initial Debt ............. Plan $20,000 40,000 VerDate Sep<11>2014 17:29 May 21, 2019 $20,000 ICR ....................... IBR ........................ PAYE .................... REPAYE ............... 10-Year Standard ICR ....................... Jkt 247001 PO 00000 Frm 00021 $40,000 $0 0 0 0 222 0 Fmt 4703 Sfmt 4703 $154 100 67 67 222 309 $60,000 $80,000 $100,000 $195 ........................ ........................ 233 222 390 $205 ........................ ........................ 400 222 15 $226 ........................ ........................ 567 222 457 E:\FR\FM\22MYN1.SGM 22MYN1 23543 Federal Register / Vol. 84, No. 99 / Wednesday, May 22, 2019 / Notices SAMPLE FIRST-YEAR MONTHLY REPAYMENT AMOUNTS FOR A MARRIED OR HEAD-OF-HOUSEHOLD BORROWER— Continued Family Size = 3 Income Plan 60,000 80,000 100,000 IBR ........................ PAYE .................... REPAYE ............... 10-Year Standard ICR ....................... IBR ........................ PAYE .................... REPAYE ............... 10-Year Standard ICR ....................... IBR ........................ PAYE .................... REPAYE ............... 10-Year Standard ICR ....................... IBR ........................ PAYE .................... REPAYE ............... 10-Year Standard [FR Doc. 2019–10623 Filed 5–21–19; 8:45 am] BILLING CODE 4000–01–P DEPARTMENT OF EDUCATION Applications for New Awards; Personnel Development To Improve Services and Results for Children With Disabilities—Preparation of Special Education, Early Intervention, and Related Services Leadership Personnel Office of Special Education and Rehabilitative Services, Department of Education. ACTION: Notice. AGENCY: The mission of the Office of Special Education and Rehabilitative Services (OSERS) is to improve early childhood, educational, and employment outcomes and raise expectations for all people with disabilities, their families, their communities, and the Nation. As such, the Department of Education (Department) is issuing a notice inviting applications for new awards for fiscal year (FY) 2019 for Personnel Development to Improve Services and Results for Children with Disabilities— Preparation of Special Education, Early Intervention, and Related Services Leadership Personnel, Catalog of Federal Domestic Assistance (CFDA) number 84.325D. This notice relates to the approved information collection under OMB control number 1820–0028. Applications Available: May 22, 2019. Deadline for Transmittal of Applications: July 8, 2019. jbell on DSK3GLQ082PROD with NOTICES SUMMARY: VerDate Sep<11>2014 17:29 May 21, 2019 $20,000 Jkt 247001 $40,000 0 0 0 444 0 0 0 0 666 0 0 0 0 888 0 0 0 0 1,110 100 67 67 444 320 100 67 67 666 311 100 67 67 888 311 100 67 67 1,110 Pre-Application Webinar Information: No later than May 28, 2019, OSERS will post pre-recorded informational webinars designed to provide technical assistance to interested applicants. The webinars may be found at www2.ed.gov/ fund/grant/apply/osep/new-osepgrants.html. Pre-Application Q & A Blog: No later than May 28, 2019, OSERS will open a blog where interested applicants may post questions about the application requirements for this competition and where OSERS will post answers to the questions received. OSERS will not respond to questions unrelated to the application requirements for this competition. The blog may be found at www2.ed.gov/fund/grant/apply/osep/ new-osep-grants.html and will remain open until June 10, 2019. After the blog closes, applicants should direct questions to the person listed under FOR FURTHER INFORMATION CONTACT. Deadline for Intergovernmental Review: September 4, 2019 For the addresses for obtaining and submitting an application, please refer to our Common Instructions for Applicants to Department of Education Discretionary Grant Programs, published in the Federal Register on February 13, 2019 (84 FR 3768), and available at www.govinfo.gov/content/pkg/FR-201902-13/pdf/2019-02206.pdf. ADDRESSES: FOR FURTHER INFORMATION CONTACT: Celia Rosenquist, U.S. Department of Education, 400 Maryland Avenue SW, Room 5158, Potomac Center Plaza, Washington, DC 20202–5076. PO 00000 Frm 00022 Fmt 4703 Sfmt 4703 $60,000 350 233 233 444 586 350 233 233 666 645 350 233 233 888 645 350 233 233 1,110 $80,000 $100,000 ........................ 400 400 444 622 600 400 400 666 822 600 400 400 888 978 600 400 400 1,110 ........................ ........................ 574 444 686 ........................ 574 574 666 904 850 567 567 888 1,131 850 567 567 1,110 Telephone: (202) 245–7373. Email: Celia.Rosenquist@ed.gov. If you use a telecommunications device for the deaf (TDD) or a text telephone (TTY), call the Federal Relay Service (FRS), toll free, at 1–800–877– 8339. SUPPLEMENTARY INFORMATION: Full Text of Announcement I. Funding Opportunity Description Purpose of Program: The purposes of this program are to (1) help address State-identified needs for personnel preparation in special education, early intervention, related services, and regular education to work with children, including infants and toddlers, with disabilities; and (2) ensure that those personnel have the necessary skills and knowledge, derived from practices that have been determined through scientifically based research and experience, to be successful in serving those children. Priorities: This competition includes two absolute priorities and three competitive preference priorities. In accordance with 34 CFR 75.105(b)(2)(v), the absolute priorities and competitive preference priorities are from allowable activities specified in the statute (see sections 662 and 681 of the Individuals with Disabilities Education Act (IDEA); 20 U.S.C. 1462 and 1481). Absolute Priorities: For FY 2019 and any subsequent year in which we make awards from the list of unfunded applications from this competition, these priorities are absolute priorities. Under 34 CFR 75.105(c)(3), we consider only applications that meet either E:\FR\FM\22MYN1.SGM 22MYN1

Agencies

[Federal Register Volume 84, Number 99 (Wednesday, May 22, 2019)]
[Notices]
[Pages 23539-23543]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-10623]


=======================================================================
-----------------------------------------------------------------------

DEPARTMENT OF EDUCATION


Annual Updates to the Income Contingent Repayment (ICR) Plan 
Formula for 2019--William D. Ford Federal Direct Loan Program

AGENCY: Federal Student Aid, Department of Education.

ACTION: Notice.

-----------------------------------------------------------------------

SUMMARY: The Secretary announces the annual updates to the ICR plan 
formula for 2019 to give notice to borrowers and the public regarding 
how monthly ICR payment amounts will be calculated for the 2019-2020 
year under the William D. Ford Federal Direct Loan (Direct Loan) 
Program, Catalog of Federal Domestic Assistance number 84.063.

DATES: The adjustments to the income percentage factors for the ICR 
plan formula contained in this notice are applicable from July 1, 2019, 
to June 30, 2020, for any borrower who enters the ICR plan or has his 
or her monthly payment amount recalculated under the ICR plan during 
that period.

FOR FURTHER INFORMATION CONTACT: Ian Foss, U.S. Department of 
Education, 830 First Street NE, Room 113H2, Washington, DC 20202. 
Telephone: (202) 377-3681. Email: [email protected].
    If you use a telecommunications device for the deaf (TDD) or a text 
telephone (TTY), call the Federal Relay Service, toll free, at 1-800-
877-8339.

SUPPLEMENTARY INFORMATION: Under the Direct Loan Program, borrowers may 
choose to repay their non-defaulted loans (Direct Subsidized Loans, 
Direct Unsubsidized Loans, Direct PLUS Loans made to graduate or 
professional students, and Direct Consolidation Loans) under the ICR 
plan. The ICR plan bases the borrower's repayment amount on the 
borrower's income, family size, loan amount, and the interest rate 
applicable to each of the borrower's loans.
    ICR is one of several income-driven repayment plans. Other income-
driven repayment plans include the Income-Based Repayment (IBR) plan, 
the Pay As You Earn Repayment (PAYE) plan, and the Revised Pay As You 
Earn Repayment (REPAYE) plan. The IBR, PAYE, and REPAYE plans provide 
lower payment amounts than the ICR plan for most borrowers.
    A Direct Loan borrower who repays his or her loans under the ICR 
plan pays the lesser of: (1) The amount that he or she would pay over 
12 years with fixed payments multiplied by an income percentage factor; 
or (2) 20 percent of discretionary income.
    Each year, to reflect changes in inflation, we adjust the income 
percentage factor used to calculate a borrower's ICR payment, as 
required by 34 CFR 685.209(b)(1)(ii)(A). We use the adjusted income 
percentage factors to calculate a borrower's monthly ICR payment amount 
when the borrower initially applies for the ICR plan or when the 
borrower submits his or her annual income documentation, as required 
under the ICR plan. This notice contains the adjusted income percentage 
factors for 2019, examples of how the monthly payment amount in ICR is 
calculated, and charts showing sample repayment amounts based on the 
adjusted ICR plan formula. This information is included in the 
following three attachments:

 Attachment 1--Income Percentage Factors for 2019
 Attachment 2--Examples of the Calculations of Monthly 
Repayment Amounts
 Attachment 3--Charts Showing Sample Repayment Amounts for 
Single and Married Borrowers

    In Attachment 1, to reflect changes in inflation, we updated the 
income percentage factors that were published in the Federal Register 
on August 2, 2018 (83 FR 37802). Specifically, we have revised the 
table of income percentage factors by changing the dollar amounts of 
the incomes shown by a percentage equal to the estimated percentage 
change between the not-seasonally-adjusted Consumer Price Index for all 
urban consumers for December 2018 and December 2019.
    The income percentage factors reflected in Attachment 1 may cause a 
borrower's payments to be lower than they were in prior years, even if 
the borrower's income is the same as in the prior year. The revised 
repayment amount more accurately reflects the impact of inflation on 
the borrower's current ability to repay.
    Accessible Format: Individuals with disabilities can obtain this 
document in an accessible format (e.g., braille, large print, 
audiotape, or compact disc) on request to the contact person listed 
under FOR FURTHER INFORMATION CONTACT.
    Electronic Access to This Document: The official version of this 
document is

[[Page 23540]]

the document published in the Federal Register. You may access the 
official edition of the Federal Register and the Code of Federal 
Regulations at www.govinfo.gov. At this site, you can view this 
document, as well as all other documents of this Department published 
in the Federal Register, in text or Portable Document Format (PDF). To 
use PDF, you must have Adobe Acrobat Reader, which is available free at 
this site.
    You may also access documents of the Department published in the 
Federal Register by using the article search feature at 
www.federalregister.gov. Specifically, through the advanced search 
feature at this site, you can limit your search to documents published 
by the Department.

    Program Authority: 20 U.S.C. 1087 et seq.

Mark A. Brown,
Chief Operating Officer, Federal Student Aid.

Attachment 1--Income Percentage Factors for 2019

                                       Income Percentage Factors for 2019
----------------------------------------------------------------------------------------------------------------
                            Single                                          Married/head of household
----------------------------------------------------------------------------------------------------------------
                   Income                         % Factor                  Income                  % Factor
----------------------------------------------------------------------------------------------------------------
$12,147....................................             55.00   $12,147.......................             50.52
$16,714....................................             57.79   $19,165.......................             56.68
$21,506....................................             60.57   $22,839.......................             59.56
$26,407....................................             66.23   $29,858.......................             67.79
$31,087....................................             71.89   $36,989.......................             75.22
$36,989....................................             80.33   $46,460.......................             87.61
$46,460....................................             88.77   $58,268.......................            100.00
$58,269....................................            100.00   $70,081.......................            100.00
$70,081....................................            100.00   $87,800.......................            109.40
$84,229....................................            111.80   $117,322......................            125.00
$107,852...................................            123.50   $158,657......................            140.60
$152,755...................................            141.20   $221,889......................            150.00
$175,147...................................            150.00   $362,583......................            200.00
$311,967...................................            200.00
----------------------------------------------------------------------------------------------------------------

Attachment 2--Examples of the Calculations of Monthly Repayment Amounts

    General notes about the examples in this attachment:
     We have a calculator that borrowers can use to estimate 
what their payment amounts would be under the ICR plan. The calculator 
is called the ``Repayment Estimator'' and is available at 
StudentAid.gov/repayment-estimator. Based on information inputted into 
the calculator by the borrower (for example, income, family size, and 
tax filing status), this calculator provides a detailed, individualized 
assessment of a borrower's loans and repayment plan options, including 
the ICR plan.
     The interest rates used in the examples are for 
illustration only. The actual interest rates on an individual 
borrower's Direct Loans depend on the loan type and when the 
postsecondary institution first disbursed the Direct Loan to the 
borrower.
     The Poverty Guideline amounts used in the examples are 
from the 2019 U.S. Department of Health and Human Services (HHS) 
Poverty Guidelines for the 48 contiguous States and the District of 
Columbia. Different Poverty Guidelines apply to residents of Alaska and 
Hawaii. The Poverty Guidelines for 2019 were published in the Federal 
Register on February 1, 2019 (84 FR 1167).
     All of the examples use an income percentage factor 
corresponding to an adjusted gross income (AGI) in the table in 
Attachment 1. If an AGI is not listed in the income percentage factors 
table in Attachment 1, the applicable income percentage can be 
calculated by following the instructions under the ``Interpolation'' 
heading later in this attachment.
     Married borrowers may repay their Direct Loans jointly 
under the ICR plan. If a married couple elects this option, we add the 
outstanding balance on the Direct Loans of each borrower and we add 
together both borrowers' AGIs to determine a joint ICR payment amount. 
We then prorate the joint payment amount for each borrower based on the 
proportion of that borrower's debt to the total outstanding balance. We 
bill each borrower separately.
     For example, if a married couple, John and Sally, has a 
total outstanding Direct Loan debt of $60,000, of which $40,000 belongs 
to John and $20,000 to Sally, we would apportion 67 percent of the 
monthly ICR payment to John and the remaining 33 percent to Sally. To 
take advantage of a joint ICR payment, married couples need not file 
taxes jointly; they may file separately and subsequently provide the 
other spouse's tax information to the borrower's Federal loan servicer.
    Calculating the monthly payment amount using a standard 
amortization and a 12-year repayment period.
    The formula to amortize a loan with a standard schedule (in which 
each payment is the same over the course of the repayment period) is as 
follows:

M = P x <(I / 12) / [1-{1 + (I / 12){time}  [supcaret]-N]>

    In the formula--

 M is the monthly payment amount;
 P is the outstanding principal balance of the loan at the time 
the calculation is performed;
 I is the annual interest rate on the loan, expressed as a 
decimal (for example, for a loan with an interest rate of 6 percent, 
0.06); and
 N is the total number of months in the repayment period (for 
example, for a loan with a 12-year repayment period, 144 months).

    For example, assume that Billy has a $10,000 Direct Unsubsidized 
Loan with an interest rate of 6 percent.
    Step 1: To solve for M, first simplify the numerator of the 
fraction by which we multiply P, the outstanding principal balance. To 
do this divide I, the interest rate, as a decimal, by 12. In this 
example, Billy's interest rate is 6 percent. As a decimal, 6 percent is 
0.06.

 0.06 / 12 = 0.005

    Step 2: Next, simplify the denominator of the fraction by which we 
multiply P. To do this divide I, the interest rate, as a decimal, by 
12. Then, add one. Next, raise the sum of the two figures to the 
negative power that corresponds to the length of the repayment period 
in months. In this example, because we are amortizing a loan to 
calculate the monthly payment

[[Page 23541]]

amount under the ICR plan, the applicable figure is 12 years, which is 
144 months. Finally, subtract the result from one.

 0.06 / 12 = 0.005
 1 + 0.005 = 1.005
 1.005 [supcaret] -144 = 0.48762628
 1-0.48762628 = 0.51237372

    Step 3: Next, resolve the fraction by dividing the result from Step 
1 by the result from Step 2.

 0.005 / 0.51237372 = 0.0097585

    Step 4: Finally, solve for M, the monthly payment amount, by 
multiplying the outstanding principal balance of the loan by the result 
of Step 3.

 $10,000 x 0.0097585 = $97.59

    The remainder of the examples in this attachment will only show the 
results of the formula.
    Example 1. Brenda is single with no dependents and has $15,000 in 
Direct Subsidized and Unsubsidized Loans. The interest rate on Brenda's 
loans is 6 percent, and she has an AGI of $31,087.
    Step 1: Determine the total monthly payment amount based on what 
Brenda would pay over 12 years using standard amortization. To do this, 
use the formula that precedes Example 1. In this example, the monthly 
payment amount would be $146.38.
    Step 2: Multiply the result of Step 1 by the income percentage 
factor shown in the income percentage factors table (see Attachment 1 
to this notice) that corresponds to Brenda's AGI. In this example, an 
AGI of $31,087 corresponds to an income percentage factor of 71.89 
percent.

 0.7189 x $146.38 = $105.23

    Step 3: Determine 20 percent of Brenda's discretionary income and 
divide by 12 (discretionary income is AGI minus the HHS Poverty 
Guideline amount for a borrower's family size and State of residence). 
For Brenda, subtract the Poverty Guideline amount for a family of one 
from her AGI, multiply the result by 20 percent, and then divide by 12:

 $31,087-$12,490 = $18,597
 $18,597 x 0.20 = $3,719.40
 $3,719.40 / 12 = $309.95

    Step 4: Compare the amount from Step 2 with the amount from Step 3. 
The lower of the two will be the monthly ICR payment amount. In this 
example, Brenda will be paying the amount calculated under Step 2 
($105.23).

    Note: Brenda would have a lower payment under other income-
driven repayment plans. Specifically, Brenda's payment would be 
$102.93 under the PAYE and REPAYE plans. However, Brenda's payment 
would be $154.40 under the IBR plan, which is higher than the 
payment she would have under the ICR plan.

    Example 2. Joseph is married to Susan and has no dependents. They 
file their Federal income tax return jointly. Joseph has a Direct Loan 
balance of $10,000, and Susan has a Direct Loan balance of $15,000. The 
interest rate on all of the loans is 6 percent.
    Joseph and Susan have a combined AGI of $87,800 and are repaying 
their loans jointly under the ICR plan (for general information 
regarding joint ICR payments for married couples, see the fifth and 
sixth bullets under the heading ``General notes about the examples in 
this attachment'').
    Step 1: Add Joseph's and Susan's Direct Loan balances to determine 
their combined aggregate loan balance:

 $10,000 + $15,000 = $25,000

    Step 2: Determine the combined monthly payment amount for Joseph 
and Susan based on what both borrowers would pay over 12 years using 
standard amortization. To do this, use the formula that precedes 
Example 1. In this example, the combined monthly payment amount would 
be $243.96.
    Step 3: Multiply the result of Step 2 by the income percentage 
factor shown in the income percentage factors table (see Attachment 1 
to this notice) that corresponds to Joseph and Susan's combined AGI. In 
this example, the combined AGI of $87,800 corresponds to an income 
percentage factor of 109.40 percent.

 1.094 x $243.96 = $266.90

    Step 4: Determine 20 percent of Joseph and Susan's combined 
discretionary income (discretionary income is AGI minus the HHS Poverty 
Guideline amount for a borrower's family size and State of residence). 
To do this, subtract the Poverty Guideline amount for a family of two 
from the combined AGI, multiply the result by 20 percent, and then 
divide by 12:

 $87,800-$16,910 = $70,890
 $70,890 x 0.20 = $14,178.00
 $14,178.00 / 12 = $1,181.50

    Step 5: Compare the amount from Step 3 with the amount from Step 4. 
The lower of the two will be Joseph and Susan's joint monthly payment 
amount. Joseph and Susan will jointly pay the amount calculated under 
Step 3 ($266.90).

    Note: For Joseph and Susan, the ICR plan provides the lowest 
monthly payment of all of the income-driven repayment plans. Joseph 
and Susan would not be eligible for the IBR or PAYE plans, and would 
have a combined monthly payment under the REPAYE plan of $520.29.

    Step 6: Because Joseph and Susan are jointly repaying their Direct 
Loans under the ICR plan, the monthly payment amount calculated under 
Step 5 applies to both Joseph's and Susan's loans. To determine the 
amount for which each borrower will be responsible, prorate the amount 
calculated under Step 4 by each spouse's share of the combined Direct 
Loan debt. Joseph has a Direct Loan debt of $10,000 and Susan has a 
Direct Loan debt of $15,000. For Joseph, the monthly payment amount 
will be:

 $10,000 / ($10,000 + $15,000) = 40 percent
 0.40 x $266.90 = $106.76

    For Susan, the monthly payment amount will be:

 $15,000 / ($10,000 + $15,000) = 60 percent
 0.60 x $266.90 = $160.14

    Example 3. David is single with no dependents and has $60,000 in 
Direct Subsidized and Unsubsidized Loans. The interest rate on all of 
the loans is 6 percent, and David's AGI is $36,989.
    Step 1: Determine the total monthly payment amount based on what 
David would pay over 12 years using standard amortization. To do this, 
use the formula that precedes Example 1. In this example, the monthly 
payment amount would be $585.51.
    Step 2: Multiply the result of Step 1 by the income percentage 
factor shown in the income percentage factors table (see Attachment 1 
to this notice) that corresponds to David's AGI. In this example, an 
AGI of $36,989 corresponds to an income percentage factor of 80.33 
percent.

 0.8033 x $585.51 = $470.34

    Step 3: Determine 20 percent of David's discretionary income and 
divide by 12 (discretionary income is AGI minus the HHS Poverty 
Guideline amount for a borrower's family size and State of residence). 
To do this, subtract the Poverty Guideline amount for a family of one 
from David's AGI, multiply the result by 20 percent, and then divide by 
12:

 $36,989 - $12,490 = $24,499.00
 $24,499 x 0.20 = $4,899.80
 $4,899.90 / 12 = $408.32

    Step 4: Compare the amount from Step 2 with the amount from Step 3. 
The lower of the two will be David's monthly payment amount. In this 
example, David will be paying the amount calculated under Step 3 
($408.32).

    Note: David would have a lower payment under each of the other 
income-driven plans. Specifically, David's payment would be $152.12 
under the PAYE and REPAYE plans and $228.18 under the IBR plan.



[[Page 23542]]


    Interpolation. If an income is not included on the income 
percentage factor table, calculate the income percentage factor through 
linear interpolation. For example, assume that Joan is single with an 
income of $50,000.
    Step 1: Find the closest income listed that is less than Joan's 
income of $50,000 ($46,460) and the closest income listed that is 
greater than Joan's income of $50,000 ($58,269).
    Step 2: Subtract the lower amount from the higher amount (for this 
discussion we will call the result the ``income interval''):

 $58,269-$46,460 = $11,809

    Step 3: Determine the difference between the two income percentage 
factors that correspond to the incomes used in Step 2 (for this 
discussion, we will call the result the ``income percentage factor 
interval''):

 100.00 percent-88.77 percent = 11.23 percent

    Step 4: Subtract from Joan's income the closest income shown on the 
chart that is less than Joan's income of $50,000:

 $50,000-$46,460 = $3,540

    Step 5: Divide the result of Step 4 by the income interval 
determined in Step 2:

 $3,540 / $11,809 = 29.98 percent

    Step 6: Multiply the result of Step 5 by the income percentage 
factor interval:

 11.23 percent x 29.98 percent = 3.37 percent

    Step 7: Add the result of Step 6 to the lower of the two income 
percentage factors used in Step 3 to calculate the income percentage 
factor interval for $50,000 in income:

 3.37 percent + 88.77 percent = 92.14 percent (rounded to the 
nearest hundredth)

    The result is the income percentage factor that we will use to 
calculate Joan's monthly repayment amount under the ICR plan.

Attachment 3--Charts Showing Sample Income-Driven Repayment Amounts for 
Single and Married Borrowers

    Below are two charts that provide first-year payment amount 
estimates for a variety of loan debt sizes and incomes under all of the 
income-driven repayment plans and the 10-Year Standard Repayment Plan. 
The first chart is for single borrowers who have a family size of one. 
The second chart is for a borrower who is married or a head of 
household and who has a family size of three. The calculations in 
Attachment 3 assume that the loan debt has an interest rate of 6 
percent. For married borrowers, the calculations assume that the 
borrower files a joint Federal income tax return with his or her spouse 
and that the borrower's spouse does not have Federal student loans. A 
field with a ``-'' character indicates that the borrower in the example 
would not be eligible to enter the applicable income-driven repayment 
plan based on the borrower's income, loan debt, and family size.

                                            Sample First-Year Monthly Repayment Amounts for a Single Borrower
--------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                     Family Size = 1
---------------------------------------------------------------------------------------------------------------------------------------------------------
                                        Income              Plan              $20,000         $40,000         $60,000         $80,000        $100,000
--------------------------------------------------------------------------------------------------------------------------------------------------------
Initial Debt......................         $20,000  ICR.................            $117            $162            $195            $211            $233
                                                    IBR.................              16  ..............  ..............  ..............  ..............
                                                    PAYE................              11             177  ..............  ..............  ..............
                                                    REPAYE..............              11             177             344             511             677
                                                    10-Year Standard....             222             222             222             222             222
                                            40,000  ICR.................             125             324             344             423             472
                                                    IBR.................              16             266  ..............  ..............  ..............
                                                    PAYE................              11             177             344  ..............  ..............
                                                    REPAYE..............              11             177             344             511             682
                                                    10-Year Standard....             444             444             444             444             444
                                            60,000  ICR.................             125             459             586             634             700
                                                    IBR.................              16             266             516  ..............  ..............
                                                    PAYE................              11             177             344             511  ..............
                                                    REPAYE..............              11             177             344             511             677
                                                    10-Year Standard....             666             666             666             666             666
                                            80,000  ICR.................             125             459             781             845             934
                                                    IBR.................              16             266             516             766  ..............
                                                    PAYE................              11             177             344             511             677
                                                    REPAYE..............              11             177             344             511             677
                                                    10-Year Standard....             888             888             888             888             888
                                           100,000  ICR.................             125             459             792           1,057           1,167
                                                    IBR.................              16             266             516             766           1,016
                                                    PAYE................              11             177             344             511             677
                                                    REPAYE..............              11             177             344             511             677
                                                    10-Year Standard....           1,110           1,110           1,110           1,110           1,110
--------------------------------------------------------------------------------------------------------------------------------------------------------


                                 Sample First-Year Monthly Repayment Amounts for a Married or Head-of-Household Borrower
--------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                     Family Size = 3
---------------------------------------------------------------------------------------------------------------------------------------------------------
                                        Income              Plan              $20,000         $40,000         $60,000         $80,000        $100,000
--------------------------------------------------------------------------------------------------------------------------------------------------------
Initial Debt......................         $20,000  ICR.................              $0            $154            $195            $205            $226
                                                    IBR.................               0             100  ..............  ..............  ..............
                                                    PAYE................               0              67  ..............  ..............  ..............
                                                    REPAYE..............               0              67             233             400             567
                                                    10-Year Standard....             222             222             222             222             222
                                            40,000  ICR.................               0             309             390              15             457

[[Page 23543]]

 
                                                    IBR.................               0             100             350  ..............  ..............
                                                    PAYE................               0              67             233             400  ..............
                                                    REPAYE..............               0              67             233             400             574
                                                    10-Year Standard....             444             444             444             444             444
                                            60,000  ICR.................               0             320             586             622             686
                                                    IBR.................               0             100             350             600  ..............
                                                    PAYE................               0              67             233             400             574
                                                    REPAYE..............               0              67             233             400             574
                                                    10-Year Standard....             666             666             666             666             666
                                            80,000  ICR.................               0             311             645             822             904
                                                    IBR.................               0             100             350             600             850
                                                    PAYE................               0              67             233             400             567
                                                    REPAYE..............               0              67             233             400             567
                                                    10-Year Standard....             888             888             888             888             888
                                           100,000  ICR.................               0             311             645             978           1,131
                                                    IBR.................               0             100             350             600             850
                                                    PAYE................               0              67             233             400             567
                                                    REPAYE..............               0              67             233             400             567
                                                    10-Year Standard....           1,110           1,110           1,110           1,110           1,110
--------------------------------------------------------------------------------------------------------------------------------------------------------

[FR Doc. 2019-10623 Filed 5-21-19; 8:45 am]
 BILLING CODE 4000-01-P