On this page, you'll find proposals to improve or modify the process by which students borrow and repay their loans.

For student loan and repayment proposals from the previous sessions of Congress, visit the Legislative Tracker Archive: Loans & Repayment. 

*NEW* H.R.4119 - Student Loan Deferment Act

Sponsor: Rep. Lawson, Jr [D-FL]
Cosponsors: 4 (4D; 0R)
Introduced: 07/30/2019
NASFAA Analysis & Coverage: This bill would extend the six-month repayment grace period for all Federal Direct Loans to one year. It also freezes interest rate on these loans during this grace period.

*NEW* H.R.4113 - Public Service Pays Off Act

Sponsor: Rep. Horn [D-OK]
Cosponsors: 0
Introduced: 07/30/2019
NASFAA Analysis & Coverage: This bill would allow allow borrowers enrolled in the public service loan forgiveness (PSLF) program to have their loan amounts forgiven intermittently at set markers. For example, after completing 2 years of eligible employment as well as making on time, eligible, payments during that time, the borrower would get 15% of the total amount due on their eligible federal loans cancelled. After 4 years another 15%, after 6 years another 20%, at 8 years another 20% and after 10 years the remainder, if any of the loan amount would be forgiven.

*NEW* H.R.4079 - ExCEL Act of 2019

Sponsor: Rep. Zeldin [R-NY]
Cosponsors: 0
Introduced: 07/25/2019
NASFAA Analysis & Coverage: This comprehensive bill would eliminate the Direct Loan Program and instead establish an "Income Dependent Education Assistance (IDEA)" Loan Program. The new program would include a universal income-based repayment component with automatic wage withholding as the mechanism for repayment.

*NEW* H.R.3926 - Consider Teachers Act

Sponsor: Rep. Visclosky [D-IN]
Cosponsors: 0
Introduced: 07/23/2019
NASFAA Analysis & Coverage: This bill would correct the problems within the TEACH grant program that allowed some grants to be inadvertently turned into loans that must be paid back with interest. The bill would also require the Department of Education (ED) to annually, on the same date each year, provide communication with recipients that explains the terms and conditions of the grant, the amount of service ED has counted towards the recipients service obligation, information on the amount of interest that may accrue and that the recipient will be required to pay if such grant is treated as a loan as well as other pertinent information.

*NEW* H.R.3887 - Student Loan Debt Relief Act of 2019

Sponsor: Rep. Clyburn [D-SC]
Cosponsors: 8 (8D; 0R)
Introduced: 07/23/2019
NASFAA Analysis & Coverage: This bicameral legislation would eliminate up to $50,000 in student loan debt for every person with household gross income at $100,000 or less. The bill would also mandate that any forgiveness received would not count as taxable income. Using data already available to the federal government about household gross income and outstanding student loan debt ED would be able to provide automatic cancellation. The bill would also allow private student borrowers to receive loan cancellation by converting their private student loans to federal student loans through student loan refinancing.

*NEW* H.R.3833 - Streamlining Income-driven, Manageable Payments on Loans for Education (SIMPLE) Act

Sponsor: Rep. Bonamici [D-OR]
Cosponsors: 4 (2D; 2R)
Introduced: 07/18/2019
NASFAA Analysis & Coverage: This bill would attempt to help at-risk borrowers avoid default by helping them enroll in income-driven repayment plans so they can repay based on their financial ability. The bill would use information already on file at the U.S. Treasury to automates the annual process for updating income information while enrolled in these plans.

*NEW* H.R.3793 - Student Loan Accrual Support and Help Act

Sponsor: Rep. Horn [D-OK]
Cosponsors: 0
Introduced: 07/17/2019
NASFAA Analysis & Coverage: The Student Loan Accrual Support and Help Act would lower interest rates of all federal student loans, including PLUS programs, disbursed on or after July 1, 2020. The new rate would be equal to the lesser of either the high yield of the 10-year Treasury note auctioned at the final auction held prior to such June 1 or 5%.

*NEW* H.R.3792 - Guaranteeing Respite After College Ends (GRACE) Act

Sponsor: Rep. Horn [D-OK]
Cosponsors: 0
Introduced: 07/17/2019
NASFAA Analysis & Coverage: For loans disbursed on or after July 1, 2020, the GRACE Act would allow loans that go into deferment to not collect interest during that time as well as interest not accrue for federal loans during the loans “grace” period before repayment beings.

*NEW* H.R.3786 - Student Loan Reform Act

Sponsor: Rep. Perry [R-PA]
Cosponsors: 1 (0D; 1R)
Introduced: 07/16/2019
NASFAA Analysis & Coverage: The Student Loan Reform Act would encourage colleges and universities to cosign student loans by allowing participating institutions to offer lower interest rates to student borrowers.

*NEW* H.R.3751 - No Student Loan Interest Act

Sponsor: Rep. Swalwell [D-CA]
Cosponsors: 2 (2D; 0R)
Introduced: 07/15/2019
NASFAA Analysis & Coverage: This bill, on enactment, would mandate that the Department of Education annually cancel or repay the interest on each federal student loan, and would reduce the interest rate of all federal student loan programs to 0%.

*NEW* H.R.3674 - Eliminating the Hidden Student Loan Tax Act

Sponsor: Rep. Davis [D-CA]
Cosponsors: 2 (1D; 1R)
Introduced: 07/10/2019
NASFAA Analysis & Coverage: This bill, to which a companion bill was introduced in the Senate in June, would eliminate student loan origination fees.

S.1947 - College for All Act of 2019

Sponsor: Sen. Sanders, Bernard [I-VT]
Cosponsors: 0
Introduced: 06/25/2019
H.R.3472
Sponsor: Rep. Jayapal, Pramila [D-WA]
Cosponsors: 16 (0 R; 16 D)
Introduced: 06/25/2019
NASFAA Analysis & Coverage: This comprehensive piece of legislation would create a grant program to states to eliminate tuition at public 4-year colleges and universities and tribal colleges for students. The bill would cut interest rates and impose an interest rate cap of 1.88% for undergraduate, parent, and graduate borrowers, while also allowing borrowers to refinance loans at the current interest rates. Any excess revenue in the Direct Loan Program would be redirected into the Pell Grant Program. The bill would also increase Federal Work Study (FWS) authorized funding levels and revise the FWS allocation formula by eliminating the "base guarantee" component in the current formula. In addition, TRIO and GEAR UP would see increases to authorized funding levels.

H.R.3448 - Student Debt Cancellation Act of 2019

Sponsor: Rep. Omar, Ilhan [D-MN]
Cosponsors: 8 (0 R; 8 D)
Introduced: 06/24/2019
NASFAA Analysis & Coverage: This bill would forgive eligible federal student loans, including Parent PLUS loan debt, consolidated loans, and grants treated as loans. The bill would also allow for the temporary purchase and forgiveness of private student loans. The forgiven debt would be excluded from taxable income.

H.R.3418 - Protecting Our Students by Terminating Graduate Rates that Add to Debt Act

Sponsor: Rep. Chu, Judy [D-CA]
Cosponsors: 16 (0 R; 16 D)
Introduced: 06/21/2019
NASFAA Analysis & Coverage: This bill would reinstate subsidized loan eligibility for graduate and professional students.

H.R.3353 - Parent PLUS Loan Improvement Act of 2019

Sponsor: Rep. Fudge, Marcia L. [D-OH]
Cosponsors: 15 (1 R; 14 D)|
Introduced: 06/19/2019
NASFAA Analysis & Coverage: This bill would expand income-contingent and income-based repayment plan eligibility to Parent PLUS loans.

S.1845 - If It's Good Enough For the Banks, It's Good Enough For Students Act

Sponsor: Sen. Merkley, Jeff [D-OR]
Cosponsors: 2 (0 R; 2 D)
Introduced: 06/13/2019
NASFAA Analysis & Coverage: This bill would enable students to refinance federal loans at the same interest rates as the loans banks receive from the federal government. The refinanced interest rate would be fixed for the period of the loan.

H.R.3257 - Student Loan Fairness Act

Sponsor: Rep. Bass, Karen [D-CA]
Cosponsors: 20 (0 R; 20 D)
Introduced: 06/13/2019
NASFAA Analysis & Coverage: This bill would reform direct loan interest rates, loan repayment, and loan forgiveness. It would establish a 10/10 Loan Repayment Plan in which monthly payments would be set at 10% of a borrower's adjusted gross income beyond 150% of the poverty line. Borrowers can apply to have up to $45,520 of student debt forgiven after 10 years of consecutive payments. This forgiven debt would be excluded from taxable income. The bill would also cap direct loan interest rates at 3.4%. It would reduce the Public Service Loan Forgiveness (PSLF) repayment criteria from 120 to 60 consecutive monthly payments. The bill would offer the option for borrowers to consolidate their private loans under federal direct loan consolidation.

H.R.3150 - Rural and Underserved Residencies to Attract Long-term Physicians Act

Sponsor: Rep. Watkins, Steve [R-KS]
Cosponsors: 1 (0 R; 1 D)
Introduced: 06/05/2019
NASFAA Analysis & Coverage: This bill would provide interest-free deferment on student loans for borrowers serving in certain medical or dental internships or residency programs.

H.R.3139 - Supporting the Teaching profession through Revitalizing Investments in Valuable Educators Act

Sponsor: Rep. Norcross, Donald [D-NJ]
Cosponsors: 1 (0 R; 1 D)
Introduced: 06/05/2019
NASFAA Analysis & Coverage: This bill would reform TEACH Grants and loan forgiveness for teachers. Under this bill, teachers who hold positions in English as a second language, special education, STEM, or career and technical education, could qualify for an annual 15% debt forgiveness during the first five years of repayment and have their full debt forgiven in their sixth year of repayment. For teachers who do not hold a position in those subjects, they can qualify an annual 10% forgiveness for the first six years of repayment and receive full debt forgiveness in their seventh year of repayment. The bill would clarify that prospective or current early childhood teachers could apply for a TEACH grant to obtain a graduate degree.

H.R.3102 - Helping Individuals Get a Higher Education while Reducing Education Debt (HIGHER ED) Act

Sponsor: Rep. DeFazio, Peter A. [D-OR]
Cosponsors: 0
Introduced: 06/05/2019
NASFAA Analysis & Coverage: This bill would reinstate subsidized loan eligibility for graduate and professional students and would allow student debt to be discharged under bankruptcy. Under this bill, borrowers could refinance Direct loans and refinance FFEL loans as refinanced Direct loans. Additionally, this bill would establish a Federal Direct Refinanced Private Loan Program which would allow borrowers to refinance private loans to have the same terms and conditions as federal direct unsubsidized loans. The bill would reform loan forgiveness programs by expanding eligibility for adjunct faculty and would provide 50% debt forgiveness to students who make 60 consecutive monthly payments in the Public Service Loan Forgiveness (PSLF) program. If enacted, partial forgiveness would also be retroactive. This bill would also reduce the number of repayment plan options: borrowers would have the option for a standard 10-year repayment plan, or an income-based repayment plan. Income-based repayment plans would be extended up to 25 years and the adjusted gross income cap to qualify for $0 monthly loan payments would be increased from 150 to 225% of the national poverty level.

H.R.3096 - Strengthening Loan Forgiveness for Public Servants Act

Sponsor: Rep. Swalwell, Eric [D-CA]
Cosponsors: 20 (0 R; 20 D)
Introduced: 06/04/2019
NASFAA Analysis & Coverage: This piece of legislation would remove the "all or nothing" component of Public Service Loan Forgiveness (PSLF) and allow borrowers employed in public service jobs to receive a percentage of forgiveness if employed in a public service job for less than 10 years. The percentage of the loan that is cancelled varies: for 2-5 years, 15%; for 6-9 years, 20%; and for 10 years, 30%.

H.R.3095 - Know Your Repayment Options Act

Sponsor: Rep. Swalwell, Eric [D-CA]
Cosponsors: 5 (0 R; 5 D)
Introduced: 06/04/2019
NASFAA Analysis & Coverage: This bill would require that each student borrower be given an individualized repayment guide.

S.1696 - Student Loan Tax Elimination Act

Sponsor: Sen. Braun, Mike [R-IN]
Cosponsors: 5 (2 R; 3 D)
Introduced: 06/03/2019
NASFAA Analysis & Coverage: This bill would eliminate origination fees on student loans.

S.1175 - PSLF Technical Corrections Act of 2019

Sponsor: Sen. Whitehouse, Sheldon (D-RI)
Cosponsors: 1 (0 R; 1 D)
Introduced: 04/11/2019
NASFAA Analysis & Coverage: The bill seeks to extend PSLF eligibility to borrowers who have already invested up to 10 years toward making 120 on-time payments but may have been unaware that the payment plan in which they enrolled was not 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)
Introduced: 04/11/2019
NASFAA Analysis & Coverage: This bill would exempt Veterinary Medicine Loan Repayment Program (VMLRP) awards from withholding taxes.

H.R.2186 - Student Loan Refinancing Act

Sponsor: Rep. Pocan (D-WI)
Cosponsors: 30 (0 R; 29 D)
Introduced: 04/09/2019
NASFAA Analysis & Coverage: The Student Loan Refinancing Act would allow any borrower of Federal Direct Loans including Subsidized, Unsubsidized and PLUS loans, to refinance their federal loan interest rate to whatever the current award year interest rate. A borrower can have the interest rate refinanced at any time during the life of loan with no limit, with the exception that a loan can only be refinanced once every six months.

H.R.2065 - Affordable Loans for Any Student Act

Sponsor: Rep. DeLauro, Rosa L. (D-CT)
Cosponsors: 0 (0 R; 0 D)
Introduced: 04/03/2019
S.1002
Sponsor: Sen. Merkley, Jeff (D-OR)
Cosponsors: 9 (0 R; 9 D)
Introduced: 04/03/2019
NASFAA Analysis & Coverage: The bill tackles several issues related to student loan affordability, complexity, and consumer information. The bill would end federal loan origination fees and the practice of interest capitalization as well as reduce the number of repayment plans to two: an income-based repayment plan, which would now be available to Parent PLUS borrowers, and a fixed 10-year plan. The Affordable Loans for Any Student Act would also simplify the process to enroll in either repayment plan.

H.R.1707 - Bank on Students Emergency Loan Refinancing

Sponsor: Rep. Courtney (D-CT)
Co-Sponsors: 67 (0 R; 67 D)
Introduced: 03/13/2019
S.768
Sponsor: Sen. Warren (D-MA)
Co-Sponsors: 34 (1 I, 33 D)
Introduced: 03/13/2019
NASFAA Analysis & Coverage: This bill would allow borrowers who meet an income requirement with Federal Direct Loans, including Parent PLUS and Consolidation Loans, as well as borrowers with FFEL Program Loans to refinance their current loan balances under the interest rate applicable to their loan type in 2016-2017. The new refinanced rate would be fixed for the rest of the life of the loan(s) and would not lengthen the repayment time frame of the loan. The bill would also allow qualified borrowers to refinance private loans with the Department of Education.

H.R.1798 - Student and Families Empowerment Act

Sponsor: Rep. Rice (D-NY)
Co-Sponsors: 0 (0 R; 0 D)
Introduced: 03/14/2019
NASFAA Analysis & Coverage: This bill would extend the current grace period time frame for student loan borrowers. For all Federal Direct Loan programs, the grace period would be extended from 6 months to 12 months and interest would not accrue for the new 12-month period as well. The bill would also allow for an increase of the student loan interest deduction for tax filing purposes.

H.R.1685 - Physician Assistant Higher Education Modernization Act

Sponsor: Rep. Bass (D-CA)
Co-Sponsors: 0 (0 R; 0 D)
Introduced: 03/12/2019
NASFAA Analysis & Coverage: This bill would increase the unsubsidized loan limit for graduate students in physician assistant (PA) programs, authorize loan forgiveness programs for PAs who serve in areas of national need, develop a program to expand PA education programs at rural institutions, make Historically Black Colleges & Universities eligible to receive additional grants and give grant preference to programs at Hispanic Serving Institutions, and increase grant funding opportunities for PA faculty development and technology at PA programs.

H.R.1571 - Debt-Free College Act of 2019

Sponsor: Rep. Pocan (D-WI)
Co-Sponsors: 32 (0 R; 32 D)
Introduced: 03/06/2019
S.672
Sponsor: Sen. Schatz (D-HI)
Co-Sponsors: 9 (0 R; 9 D)
Introduced: 03/06/2019
NASFAA Analysis & Coverage: This bill would create a State-Federal partnership program that aims to provide a debt-free college experience. This program would create a commitment to cover remaining unmet financial need for eligible students. To be eligible students would need to be enrolled at an eligible institution in the state they reside, complete the FAFSA and meet SAP requirements. This bill would authorize $84 billion to create the partnership program. In addition, the Debt-Free College Act would provide full Title IV eligibility for Dreamer students and repeal the suspension of Title IV aid for students 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)
Introduced: 03/06/2019
NASFAA Analysis & Coverage: The REDI Act would allow borrowers in a medical or dental residency program to have the interest and payments on their student loans deferred.

H.R.1043 - Employer Participation in Repayment Act of 2019

Sponsor: Rep. Peters (D-CA)
Co-Sponsors: 114 (34 R; 80 D)
Introduced: 02/07/2019
NASFAA Analysis & Coverage: This bill would expand employer-provided educational assistance programs to include employer-provided student loan repayment assistance. The bill would allow employers to offer up to $5,250 per year in student loan repayment assistance to their employees. This amount would be excluded from the employee’s taxable income.

H.R.885 - Private Student Loan Bankruptcy Fairness Act

Sponsor: Rep. Cohen (D-TN)
Co-Sponsors: 13 (0 R; 13 D)
Introduced: 01/30/2019
NASFAA Analysis & Coverage: This bill would allow private student loans to be discharged in bankruptcy.

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