Summary of Public Comments
Information_Collection_Activities_NSLDS_Responses.docx
National Student Loan Data System (NSLDS)
Summary of Public Comments
OMB: 1845-0035
PUBLIC SUBMISSION |
As
of: March
18, 2013 |
Docket:
ED-2013-ICCD-0007
National
Student Loan Data System (NSLDS)
Comment
On: ED-2013-ICCD-0007-0001
Agency
Information Collection Activities; Comment Request; National Student
Loan Data System (NSLDS)
Document:
ED-2013-ICCD-0007-DRAFT-0004
Comment
on FR Doc # 2013-01763
Submitter Information
Name:
Timothy
Davis
Address:
San Diego, CA,
Email:
[email protected]
Organization:
Timothy Lee Davis, Esq.
General Comment
I had GI Bill and $15,000 in GOVERNMENT backed (not bank-backed) student loans beginning 1976 - 1988. We should go back to the 1976 type regulations. I was able to borrow money, without interest until a year after I finished school and without interest for 3 years if I went into public service or the military. I went into the Navy as a JAGC officer in 1984 and by 1987 when the $15,000 became due, I was able to write a check and pay it off, go to work and PAY TAXES. I've repaid much more in taxes than I would have paid in interest. I get to pay taxes for a lifetime. I shouldn't pay interest to a banker for a lifetime - that is not helping the Treasury or economy like direct income taxes benefit the entire US population directly without a bank middle man. When I graduated in 1988, the banks had taken over these loans and they were charging interest immediately upon paying the loan out to the student. Accordingly, you had students, who had no money, trying to make monthly payments while in school. Students can't do that. Students can either study or work three jobs to pay off loans. We as a country need to understand the value of turning students into taxpayers. That's where the real money for the U.S. Treasury lies. What you should do now, is pay the banks off for current students, eliminate the interest on current outstanding bank-backed loans, and allow students to pay these loans off without interest at the same or a little higher monthly repayments and let them become taxpayers. What we have now is indentured servitude to a bunch of foul bankers. Let Elizabeth Warren see this and see what she thinks. I know what her reaction would be. Same as mine. She'd tell you that these creepy bankers have cheated a great system of education and taxpayer creation. It's just like seizing a pension fund or other assets - these people (bankers) want to take everything. We've let 'em.
Tracking No. 1jx-83tc-sza9
Dear Mr. Davis,
The United States Department of Education, the Office of Federal Student Aid, and the National Student Loan Data System (NSLDS) would like to thank you for the feedback you provided on the Agency Information Collection Activities posting for NSLDS. Information Collection Activities are posted every three years for each of our enterprise systems, and public comments like yours ensure that we are continuously improving the way we do business.
Your comment, in which you highlight your experience with borrowing money from the U.S. Government for college, and the importance of turning students into taxpayers, was thoughtful and inspiring.
NSLDS primarily deals with the data collection aspect of Federal Financial Aid, so no direct action within the system can be taken based on your comment, but know that it will be forwarded on to the Federal Student Aid Customer Experience Office.
You should know your comment was read, reviewed, and thoroughly appreciated.
Respectfully,
The National Student Loan Data System
PUBLIC SUBMISSION |
As
of: March
18, 2013 |
Docket:
ED-2013-ICCD-0007
National
Student Loan Data System (NSLDS)
Comment
On: ED-2013-ICCD-0007-0001
Agency
Information Collection Activities; Comment Request; National Student
Loan Data System (NSLDS)
Document:
ED-2013-ICCD-0007-DRAFT-0005
Comment
on FR Doc # 2013-01763
Submitter Information
Name:
John
Belt
Address:
Westerville, OH,
Email:
[email protected]
Submitter's
Representative:
Tiberry
Organization:
Self
Government
Agency Type:
Local
General Comment
There
should be consideration for folks who have paid for 120 months on
time. The balance of the loan would then be waived.
I would not
want to reward anyone who did not show good faith in repaying their
loan.
Tracking No. 1jx-83to-q9fo
Dear Mr. Belt,
The United States Department of Education, the Office of Federal Student Aid, and the National Student Loan Data System (NSLDS) would like to thank you for the feedback you provided on the Agency Information Collection Activities posting for NSLDS. Information Collection Activities are posted every three years for each of our enterprise systems, and public comments like yours ensure that we are continuously improving the way we do business.
Your comment, in which you note that there should be consideration for borrowers who have made 120 consecutive payments on their student loans, was read, reviewed, and thoroughly appreciated. Standard Repayment Plans typically cover a span of 10 years, and if all payments are made, the loan is considered to be paid in full.
The Department of Education also provides Income Based Repayment Plans where the borrower makes payments on their loans based on income level (and a variety of other factors) for a set amount of time. If the full amount of the loan is not paid within the given time period, the remaining balance of the loan is forgiven under this type of plan. You can learn more about Income Based Repayment here.
NSLDS primarily deals with the data aspect of Federal Financial Aid, so no direct action within the system can be taken based on your comment, but know that it will be forwarded on to the Federal Student Aid Customer Experience Office for further review, analysis, and possible action.
Respectfully,
The National Student Loan Data System
PUBLIC SUBMISSION |
As
of: March
18, 2013 |
Docket:
ED-2013-ICCD-0007
National
Student Loan Data System (NSLDS)
Comment
On: ED-2013-ICCD-0007-0001
Agency
Information Collection Activities; Comment Request; National Student
Loan Data System (NSLDS)
Document:
ED-2013-ICCD-0007-DRAFT-0006
Comment
on FR Doc # 2013-01763
Submitter Information
Name:
Linda
MacNaughton
Address:
Delaware, OH,
Email: [email protected]
General Comment
If you really want students to be able to pay off their loans and still be able to move out of their parent's houses, how about you forget about the interest and just allow them to pay off what they borrowed. After dutifully paying on her loans for 2 years, my daughter still owes more than she borrowed. In a country where we now have mortgage interest rates of only 2.6 %, it's a shame to burden these successful young adults with so much debt.....especially since the government is telling everyone that "everyone should and can go to college." The wealthy can pay for it. The poor get free access. The middle class gets to pay for it for way too long.
Tracking No. 1jx-83tr-xev9
Dear Ms. MacNaughton,
The United States Department of Education, the Office of Federal Student Aid, and the National Student Loan Data System (NSLDS) would like to thank you for the feedback you provided on the Agency Information Collection Activities posting for NSLDS. Information Collection Activities are posted every three years for each of our enterprise systems, and public comments like yours ensure that we are continuously improving the way we do business.
Your comment, in which you discuss the difference in interest rates between student loans and mortgages was read, reviewed, and thoroughly appreciated.
NSLDS primarily deals with the data collection aspect of Federal Financial Aid, so no direct action within the system can be taken based on your comment, but know that it will be forwarded on to the Federal Student Aid Customer Experience Office for further review, and analysis.
Respectfully,
The National Student Loan Data System
PUBLIC SUBMISSION |
As
of: March
18, 2013 |
Docket:
ED-2013-ICCD-0007
National
Student Loan Data System (NSLDS)
Comment
On: ED-2013-ICCD-0007-0001
Agency
Information Collection Activities; Comment Request; National Student
Loan Data System (NSLDS)
Document:
ED-2013-ICCD-0007-DRAFT-0007
Comment
on FR Doc # 2013-01763
Submitter Information
Name:
Linda
MacNaughton
Address:
Delaware, OH,
Email: [email protected]
General Comment
Did
you know that in the United Kingdom the interest rate for student
loans is about .1%? I work with many young people who are having
difficulty paying their loans and paying rent, utilities and buying
groceries. I believe that more people would actually pay off their
loans and not default or ask to defer if they could pay on what they
borrow, rather than pay on the interest. PLEASE let these young
adults PAY OFF THEIR LOANS ONLY......NO INTEREST!!!!!
I
will bet you would get more loans repaid on time.
The money they
save would actually help our country by being put towards purchasing
goods, homes, or investing in companies......Think about it!
Tracking No. 1jx-83tr-46fu
Dear Ms. MacNaughton,
The United States Department of Education, the Office of Federal Student Aid, and the National Student Loan Data System (NSLDS) would like to thank you for the feedback you provided on the Agency Information Collection Activities posting for NSLDS. Information Collection Activities are posted every three years for each of our enterprise systems, and public comments like yours ensure that we are continuously improving the way we do business.
Your comment, in which you suggest that student loan interest should be eliminated, was read, reviewed, and thoroughly appreciated.
The Department of Education offers Income Based Repayment Plans where borrowers make payments for a set period of time based on their income level. If the full amount of the loan is not paid within the given time period, the remaining balance of the loan is forgiven. You can learn more about Income Based Repayment here. We encourage you to pass along this information to borrowers who may be struggling to make loan payments.
NSLDS primarily deals with the data collection aspect of Federal Financial Aid, so no direct action within the system can be taken based on your comment, but know that it will be forwarded on to the Federal Student Aid Customer Experience Office for further review, and analysis.
Respectfully,
The National Student Loan Data System
PUBLIC SUBMISSION |
As
of: March
18, 2013 |
Docket:
ED-2013-ICCD-0007
National
Student Loan Data System (NSLDS)
Comment
On: ED-2013-ICCD-0007-0001
Agency
Information Collection Activities; Comment Request; National Student
Loan Data System (NSLDS)
Document:
ED-2013-ICCD-0007-DRAFT-0008
Comment
on FR Doc # 2013-01763
Submitter Information
Name:
Jan
Eitel
Address:
Circleville, OH,
Email: [email protected]
General Comment
I
am tired of paying everyone else's debt. If these people are in
college they know if they sign of the line they are making a
commitment to pay back what they owe. It may take a little longer to
get a new house, a new car, more credit cards and more things, but
they owe their debt first. I paid my loan, never imagining someone
would bail me out. Enough is enough, no matter what kind of loan-ex.
mortgage, car, credit card, student-start making these people
responsible and our nation and our economy will benefit.
How
do you think we got in the mess we are in-we don't make people take
RESPONSIBILITY!!! It is time to get things on the right track-set an
example and keep setting examples.
Jan Eitel
Tracking No. 1jx-83tu-hc6v
Dear Ms. Eitel,
The United States Department of Education, the Office of Federal Student Aid, and the National Student Loan Data System (NSLDS) would like to thank you for the feedback you provided on the Agency Information Collection Activities posting for NSLDS. Information Collection Activities are posted every three years for each of our enterprise systems, and public comments like yours ensure that we are continuously improving the way we do business.
Your comment, in which you discuss the need for students to take responsibility for repaying their loans, was read, reviewed, and thoroughly appreciated.
NSLDS primarily deals with the data collection aspect of Federal Financial Aid, so no direct action within the system can be taken based on your comment, but know that it will be forwarded on to the Federal Student Aid Customer Experience Office for further review and analysis.
Respectfully,
The National Student Loan Data System
PUBLIC SUBMISSION |
As
of: March
18, 2013 |
Docket:
ED-2013-ICCD-0007
National
Student Loan Data System (NSLDS)
Comment
On: ED-2013-ICCD-0007-0001
Agency
Information Collection Activities; Comment Request; National Student
Loan Data System (NSLDS)
Document:
ED-2013-ICCD-0007-DRAFT-0009
Comment
on FR Doc # 2013-01763
Submitter Information
Name:
Natalie
Clark
Address:
Columbus, Ohio,
Email: [email protected]
General Comment
I am repaying about 24K in student loans from graduate school from graduate school and post graduate school. I do not anticipate being able to pay them back at the rate they are requesting. I have sought and been granted income-based repayments and forbearance when I was laid off from work in 2011. I am currently slated to being paying around $340/month in repayments. I am a professional counselor in private practice and will be seeking yet another piece of relief in the form of yet another reduction of repayment based on income. It has become easier in recent years to communicate with Sallie Mae and ACS re: my loans. Having financed undergrad studies at Ohio State and been through repayment of those loans in the 1990s/early 2000s, the process of consolidation was very confusing and it was hard to know when one company "bought" my loans, what that meant exactly. Keeping it all straight is very confusing to a person here with a master's degree and an honest desire to pay back a debt I appreciate. I do not evade payment or move without forwarding address info to student loan companies, so I think I am a good representative of the cohort in society in our country who struggles to do the right thing here.
Tracking No. 1jx-83u1-8qap
Dear Ms. Clark,
The United States Department of Education, the Office of Federal Student Aid, and the National Student Loan Data System (NSLDS) would like to thank you for the feedback you provided on the Agency Information Collection Activities posting for NSLDS. Information Collection Activities are posted every three years for each of our enterprise systems, and public comments like yours ensure that we are continuously improving the way we do business.
Your comment, in which you discuss your dedicated and continuous effort to repay your loans, was thoroughly appreciated. We are glad to hear that your experience in communicating with the Federal Loan Servicers has become easier over the years. We are continuously improving our processes and working toward a straight-forward, hassle-free experience for all borrowers.
NSLDS primarily deals with the data collection aspect of Federal Financial Aid, so no direct action within the system can be taken based on your comment, but know that it will be forwarded on to the Federal Student Aid Customer Experience Office for further review and analysis.
Respectfully,
The National Student Loan Data System
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