Legislative Tracker: Loans & Repayment

Legislative Tracker: Loans & Repayment

About this web web page, you will discover proposals to boost or alter the procedure through which pupils borrow and repay their loans.

For education loan and payment proposals through the past sessions of Congress, go to the Tracker that is legislative Archive Loans & Repayment.

*NEW* S. 3055 — Pupil Loan Repayment Freedom Act

Sponsor: Sen. Murkowski R-AK
Cosponsors: 2 (1D; 1R)
Introduced: 12/16/2019
NASFAA Overview & research: This bill would allow an educatonal loan debtor to go out of their income-based payment plan and repay under just about any loan repayment policy for that they meet the criteria.

*NEW* H.R. 5287 — Fair Education Loan Debt Collection Procedures Act

Sponsor: Rep. Lawson D-FL
Cosponsors: 0
Introduced: 12/03/2019
NASFAA Summary & research: This bill would prohibit gathering from a debtor during any time frame that the same debtor wouldn’t be needed to make a re re re payment under an income-driven plan. Loan companies would additionally be forbidden from collecting from the debtor a quantity this is certainly significantly more than a borrower that is similar have compensated in one single thirty days under an IDR plan. Loan companies would additionally be obligated to approve that the debtor these are typically trying to make a group from are perhaps perhaps not qualified to receive any discharges that are administrative.

H.R. 4869 — Education Loan Default Decrease Program Act

Sponsor: Rep. Horn D-OK
Cosponsors: 0
Introduced: 10/28/2019
NASFAA Summary & Analysis: This bill would as opposed to just getting rid of the record of the debtor’s standard from their credit rating, eliminate any https://speedyloan.net/reviews/cashcall item that is adverse of regarding the mortgage standard through the debtor’s credit score. Читать далее «Legislative Tracker: Loans & Repayment»