(Sept. 4, 2008) AACOM signed a comment letter, circulated by the American Medical Association, to the Department of Education regarding the debt-to-income ratio or 20/220 pathway of the economic hardship loan deferment. On July 1, 2009, the effective date of a new income-based repayment program, the 20/220 pathway will be eliminated. The letter urges Education Secretary Margaret Spellings to reinstate permanently the 20/220 pathway or establish an equivalent loan deferment funding mechanism to continue to provide medical residents with an option to postpone loan payments without facing financial penalties. AACOM’s comments were made in response to the issuance of a proposed rule that would modify federal student loan regulations in accordance with the College Cost Reduction and Access Act (Public Law 110-84).
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