With this web page, you will discover proposals to boost or alter the method through which pupils borrow and repay their loans.
For education loan and payment proposals through the past sessions of Congress, go to the Legislative Tracker Archive: Loans & Repayment.
*NEW* S. 3055 – Pupil Loan Repayment Freedom Act
Sponsor: Sen. Murkowski R-AK
Cosponsors: 2 (1D; 1R)
NASFAA Overview & research: This bill would allow an educatonal loan debtor to go out of their income-based payment plan and repay under every other loan payment policy for that they qualify.
*NEW* H.R. 5287 — Fair Education Loan Debt Collection Procedures Act
Sponsor: Rep. Lawson D-FL
NASFAA Summary & research: This bill would prohibit gathering from the debtor during any time period that the same debtor wouldn’t be needed to make re payment under an income-driven plan. Collectors would be forbidden from gathering from a debtor a quantity that is significantly more than a similar borrower would have compensated in a single month 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 entitled to any administrative discharges first.
H.R. 4869 – Education Loan Default Decrease Program Act
Sponsor: Rep. Horn D-OK