Barring Delinquent Debtors From Obtaining Federal Loans or Loan Insurance or Guarantees

Summary

The Financial Management Service has finalized a rule clarifying when a debt is considered delinquent and when a delinquency is resolved, in accordance with the Debt Collection Improvement Act of 1996, to determine eligibility for federal financial assistance. The rule addresses issues raised in comments and provides exemptions for certain delinquent debts.