Regulatory Alerts2024-01-01 | Bulletin 2024-4Oregon DFR Bulletin 2024-4: Guidance on One-Time Adjustment of Federal Student Loans
The Oregon Division of Financial Regulation issued Bulletin 2024-4 to require licensed student loan servicers to inform borrowers with commercially owned FFEL or Perkins loans about a one-time federal payment count adjustment. Servicers must proactively communicate the potential for loan forgiveness and train staff to assist borrowers in consolidating their loans into federal Direct Loans by April 30, 2024. This guidance ensures eligible borrowers can benefit from the U.S. Department of Education's initiative to update payment counts toward income-driven repayment and Public Service Loan Forgiveness programs.
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