Great News! The IRS Data Retrieval Tool is Back Up for Student Loan Borrowers
For the first time since it was taken down due to security concerns in March, millions of student loan borrowers can once again use the IRS Data Retrieval Tool (DRT) to electronically transfer their tax information into the online application for income-driven repayment (IDR) plans. Using the DRT, borrowers will be able to apply for IDR and update their income online at StudentLoans.gov, without needing to separately provide their tax returns.
We thank the Department of Education and IRS for working together to restore secure access to this critical tool, and for doing so without creating burdensome new requirements that would make it difficult for low-income students to use the DRT. We look forward to a full restoration of the DRT by October 1st, when it will become available for students completing the FAFSA to qualify for financial aid in the 2018-19 year.
For more information about the DRT outage, see our previous blog posts:
- Update on Restoration of IRS Data Retrieval Tool for Student Loan Borrowers and FAFSA Applicants (May 2017)
- Loss of IRS Data Retrieval Tool Complicates Financial Aid Applications and Student Loan Repayment for Millions (April 2017)
- The IRS Data Retrieval Tool is Down Until October – What the Department of Education Should Be Doing Now (March 2017)