H.R. 3095 – Understand Your Repayment Alternatives Act
Sponsor: Rep. Swalwell, Eric D-CA
Cosponsors: 5 (0 R; 5 D)
NASFAA review & Coverage: This bill would need that all pupil debtor get an individualized payment guide.
S. 1696 – Student Loan Tax Elimination Act
Sponsor: Sen. Braun, Mike R-IN
Cosponsors: 5 (2 R; 3 D)
NASFAA review & Coverage: This bill would expel origination costs on student education loans.
S. 1175 – PSLF Technical Corrections Act of 2019
Sponsor: Sen. Whitehouse, Sheldon (D-RI)
Cosponsors: 1 (0 R; 1 D)
NASFAA research & Coverage: The balance seeks to increase PSLF eligibility to borrowers who’ve currently spent as much as ten years toward making 120 on-time repayments but was unaware that the payment plan for which they enrolled had not been sanctioned for forgiveness.
S. 1163 – Veterinary Medicine Loan Repayment Program Enhancement Act
Sponsor: Sen. Crapo, Mike (R-ID)
Cosponsors: 10 (3 R; 6 D; 1 I)
NASFAA review & Coverage: This bill would exempt Veterinary Medicine Loan Repayment system (VMLRP) awards from withholding taxes.
H.R. 2186 – Education Loan Refinancing Act
Sponsor: Rep. Pocan (D-WI)
Cosponsors: 30 (0 R; 29 D)
NASFAA review & Coverage: The scholar Loan Refinancing Act allows any debtor of Federal Direct Loans including Subsidized, Unsubsidized and PLUS loans, to refinance their federal loan rate of interest to regardless of the current honor 12 months interest rate. A debtor might have the attention price refinanced whenever you want through the lifetime of loan without any limit, other than a loan can simply be refinanced as soon as every half a year.
H.R. 2065 – Affordable Loans for just about any Scholar Act
Sponsor: Rep. DeLauro, Rosa L. (D-CT)
Cosponsors: 0 (0 R; 0 D)
Sponsor: Sen. Merkley, Jeff (D-OR)
Cosponsors: 9 (0 R; 9 D)
NASFAA research & Coverage: The balance tackles issues that are several to education loan affordability, complexity, and consumer information. The bill would end federal loan origination costs in addition to training of great interest capitalization along with reduce steadily the amount of repayment intends to two: an income-based payment plan, which will now be accessible to Parent PLUS borrowers, and a set plan that is 10-year. The Affordable Loans for Any scholar Act would additionally simplify the procedure to sign up either in payment plan.
H.R. 1707 – Bank on Students Emergency Loan Refinancing
Sponsor: Rep. Courtney (D-CT)
Co-Sponsors: 67 (0 R; 67 D)
Sponsor: Sen. Warren (D-MA)
Co-Sponsors: 34 (1 I, 33 D)
NASFAA research & Coverage: This bill will allow borrowers whom meet earnings requirement with Federal Direct Loans, including Parent PLUS and Consolidation Loans, in addition to borrowers with FFEL Program Loans to refinance their present loan balances beneath the rate of interest relevant for their loan key in 2016-2017. The latest refinanced price would be fixed for all of those other lifetime associated with the loan(s) and will never lengthen the payment time period regarding the loan. The bill would additionally allow qualified borrowers to refinance personal loans with the Department of Education.
H.R. 1798 – Pupil and Families Empowerment Act
Sponsor: Rep. Rice (D-NY)
Co-Sponsors: 0 (0 R; 0 D)
NASFAA review & Coverage: This bill would extend the grace that is current period of time for education loan borrowers. The grace period https://speedyloan.net/installment-loans-mi would be extended from 6 months to 12 months and interest would not accrue for the new 12-month period as well for all Federal Direct Loan programs. The bill would allow for an also enhance regarding the education loan interest deduction for taxation filing purposes.
H.R. 1685 – Physician Assistant Degree Modernization Act
Sponsor: Rep. Bass (D-CA)
Co-Sponsors: 0 (0 R; 0 D)
NASFAA research & Coverage: This bill would raise the unsubsidized loan restriction for graduate pupils in doctor assistant (PA) programs, authorize loan forgiveness programs for PAs whom provide in regions of nationwide need, develop an application to grow PA education programs at rural organizations, make Historically Ebony Colleges & Universities eligible to get extra grants and present give preference to programs at Hispanic Serving Institutions, while increasing grant funding possibilities for PA faculty development and technology at PA programs.
H.R. 1571 – Debt-Free university Act of 2019
Sponsor: Rep. Pocan (D-WI)
Co-Sponsors: 32 (0 R; 32 D)
Sponsor: Sen. Schatz (D-HI)
Co-Sponsors: 9 (0 R; 9 D)
NASFAA research & Coverage: This bill would produce a State-Federal partnership system that is designed to supply a debt-free university experience. This system would produce dedication to pay for staying unmet need that is financial qualified pupils. To qualify pupils would have to be enrolled at a eligible organization in their state they live, complete the FAFSA and satisfy SAP needs. This bill would authorize $84 billion to produce the partnership system. In addition, the Debt-Free College Act would offer complete Title IV eligibility for Dreamer students and repeal the suspension system of Title IV aid for pupils with drug-related offenses.
H.R. 1554 – REDI (Resident Education Deferred Interest) Act
Sponsor: Rep. Babin (R-TX)
Co-Sponsors: 9 (6 R; 3 D)
NASFAA research & Coverage: The REDI Act will allow borrowers in a medical or dental residency system to truly have the interest and re re payments to their figuratively speaking deferred.
H.R. 1043 – Employer Participation in Repayment Act of 2019
Sponsor: Rep. Peters (D-CA)
Co-Sponsors: 114 (34 R; 80 D)
NASFAA research & Coverage: This bill would expand employer-provided academic assistance programs to incorporate student loan repayment assistance that is employer-provided. The bill will allow companies to provide up to $5,250 per 12 months in education loan payment assist with their staff. This quantity could be excluded through the employee’s income that is taxable.
H.R. 885 – Private Education Loan Bankruptcy Fairness Act
Sponsor: Rep. Cohen (D-TN)
Co-Sponsors: 13 (0 R; 13 D)
NASFAA research & Coverage: This bill will allow personal student education loans to be released in bankruptcy.