Hi Heather,

Two Questions:
1. If a borrower, who is enrolled in IBR with all of her/his loans, consolidates into the SDCL, IBR will remain… (“Repayment term will not be changed: The repayment term on your Special Direct Consolidation Loan (the length of time you have to repay the loan) will remain the same as your current repayment terms and will not be reset. As a result, you will pay less interest over the life of the loan than you would with a traditional Direct Consolidation Loan”).

Will the borrower be able to switch out of IBR at a later date?

2. When will the 2012 IBR become effective…1/1/12 or 7/1/12 or?!? Have there been any details released regarding this start date?

Thanks!
Jon Goldberg