Legislative Tracker Archive: Loans & Repayment

Legislative TrackerOn this page, you'll find previous proposals to improve the process by which students borrow and repay their loans. Use these links to jump to a specific session of Congress.

 

116th Session of Congress

S.5023 - Ending Administrative Garnishment Act of 2020

Sponsor: Sen. Booker [D-NJ]
Cosponsors: 1 (1D;0R)
Introduced: 12/15/2020
NASFAA Summary & Analysis: This bill would suspend wage garnishments for those who have defaulted on their student loans and revise income-driven repayment plans and required that if an individual's wages are improperly garnished the Secretary of Education will pay the borrower back twice of what they paid. The bill would also repeal the Department of Education's ability to garnish wages from an individual if the loan has been outstanding for more than ten years and prevent the Department of Education from garnishing more from a student loan borrower than a similarly situated borrower would pay under an income driven repayment plan.

 

H.R.8835 - Rural Revitalization Now Act

Sponsor: Rep. Finkenauer [D-IA]
Cosponsors: 1 (1D;0R) 
Introduced: 12/02/2020
NASFAA Summary & Analysis: This bill would allow borrowers who reside in rural locations for a minimum of 12 months forgiveness of up to $50,000 in student loans. To receive $50,000, the borrower would have to reside in the rural area for 8 years. The forgiveness would be funded by a combination of the Department of Education and either States, counties, localities, territories, Tribes, nonprofit entities, and qualifying partnerships that are able to provide funding. Qualifying areas are defined based on population size, population loss over the last decade, potential economic benefit or designation as a major disaster area within the last 5 years.

 

H.R.8820 - Pandemic Accommodation to Support Students Act (PASS) Act 

Sponsor: Rep. Underwood [D-IL]
Cosponsors: 82 (D 82; 0R)
Introduced: 11/24/2020
NASFAA Summary & Analysis: This bill would amend section 3513 of the CARES Act, updating the date of the temporary relief for federal student loan borrowers from September 30, 2020 to September 30, 2021. 

 

H.R.8514 - Student Loan Relief Act

Sponsor: Rep. Gonzalez [D-TX]
Cosponsors: 0
Introduced: 10/02/2020
NASFAA Summary & Analysis: This bill would require the Department of Education to provide a maximum of $25,000 in federal student loan forgiveness to borrowers. The bill would ensure that for borrowers who have more than $25,000 in federal student loan debt, the cancellation would be applied to borrower's loans in the order of highest interest rate. Any forgiveness would not be taxable.

 

H.R.8400 - Parent PLUS Loan Fairness and Responsibility Act

Sponsor: Rep. Foster [D-IL]
Cosponsors:
Introduced: 09/25/2020
NASFAA Summary & Analysis: This bill would allow parents who had borrower a Parent PLUS loan on behalf of their student child to transfer the balance of the loan to the student borrower. The transfer requires that the loan be in good standing and that the loan was used to pay for the student's educational expenses. The student borrower must also be at least 18 years of age, be able to demonstrate the ability to repay the loan, and have in writing the request of the transfer signed by the child, the parent, and the lender. To determine the ability of a child to repay ED would consider the child's employment status, income level, and credit history, the total dollar amount of the loans to be transferred, and the child's debt-to-income ratio before and after the transfer. The amount of the transferred loan would not count towards the borrower's aggregate loan limit. 

H.R.8393 - Frontline Healthcare Worker Student Loan Assistance Act of 2020

Sponsor: Rep. Van Drew [R-NJ]
Cosponsors: 0
Introduced: 09/24/2020
NASFAA Summary & Analysis: This bill would allow for loan forgiveness for borrowers who are frontline health care workers during the COVID-19 pandemic. The amount to be forgiven would be equal to the sum of the monthly loan payments that are due, suspended, or paid on each eligible Federal student loan and each eligible private student loan of the borrower during the covered period. Eligible borrowers would need to complete an application that states their eligibility, the amount eligible for forgiveness, and what type of loan they have (federal, private, or both). 

*NEW* H.R.7761 - Protecting Access to Loan Forgiveness for Public Servants During the COVID–19 Pandemic Act

Sponsor: Rep. Swalwell, [D-CA] 
Cosponsors: 17 (0D; 0R)
Introduced: 07/23/2020
NASFAA Summary & Analysis: This bill would ensure that workers who were enrolled in the PSLF program and lost their job due to the COVID-19 pandemic can continue to count loan payments toward their total required for forgiveness under the PSLF program so long as they re-start their public service jobs within six months after the end of the public health emergency. It also would require the Secretary of Education to develop and make available guidance for those who are eligible for this emergency job disruption assistance.

S.4247 - Student Loan Repayment and FAFSA Simplification Act

Sponsor: Sen. Alexander [R-TN] 
Cosponsors: 0 (0D; 0R)
Introduced: 07/21/2020
NASFAA Summary & Analysis: This bill would consolidate all existing repayment plans into two options — one standard 10-year repayment plan and one income-based repayment plan for federal loans entering repayment on or after October 1. Once a borrower enrolled in the income-based repayment plan begins earning income, their monthly payment would be capped at 10% of their income that exceeds 150% of the poverty line. In addition, this bill calls for simplifying the FAFSA, reducing the number of questions students must answer to obtain federal financial aid from more than 100 to about 30. The bill would also make adjustments to how institutions calculate the cost of attendance (COA) and adds restrictions to the on-campus housing allowance

S.4141/H.R.7449 - Bank on Students Coronavirus Emergency Loan Refinancing Act of 2020

Sponsor: Sen. Warren, Elizabeth [D-MA] 
Cosponsors: 34  (34D; 0R)
Introduced: 07/01/2020 
Sponsor: Rep. Courtney [D-CT]
Cosponsors: 29 (29D; 0R)
Introduced: 07/01/2020 
NASFAA Summary & Analysis: This bill  would allow student loan borrowers to refinance their federal loans – all eligible federal FFEL, Direct, Perkins, and Public Health Service Act student loan borrowers could refinance their high-interest loans down to the rates offered to federal borrowers in the 2020-2021 school year. Direct loan holders would automatically have their debt refinanced. In addition, this bill would allow eligible student loan borrowers to refinance their private loans into the federal program. The bill provides those with private student loan debt the option of refinancing their high-interest private student loans down to the rates offered to new federal student loan borrowers. Those who refinance will also have access to the benefits and protections of the federal student loan program.

H.R.7294 - COVID-19 Perkins Loan Relief Act 

Sponsor: Rep. Porter [D-CA] 
Cosponsors: 4 (3D; 1R)
Introduced: 06/22/2020
NASFAA Summary & Analysis: This bill would suspend Federal Perkins Loans repayments during the COVID-19 pandemic. No interest shall acquire on Federal Perkins Loans and all payments shall be suspended until September 30, 2020. 

H.R.7114 - Economic and Student Loan Debt Relief Act of 2020

Sponsor: Rep. Stivers [R-OH] 
Cosponsors: 1 (1D; 0R)
Introduced: 06/04/2020
NASFAA Summary & Analysis: This bill extends the payment pause and interest waiver through December 31, 2020. It also makes permanent the exclusion from income for employer-paid student loan repayment assistance. 

 

S.3760 - Strengthening Loan Forgiveness for Public Servants During the COVID-19 Crisis 

Sponsor: Sen. Blumenthal [D-CT] 
Cosponsors: 9 (9D; 0R)
Introduced: 05/19/2020
NASFAA Summary & Analysis: This bill will strengthen the public service loan forgiveness program based on years of employment. If a borrower completes 2/4 years of service 15% of their total loans will be canceled. 6/8 years of service equals 20% of total loan forgiveness. Lastly, if a borrower completes 10 years of employment, 30% of their total loans will be forgiven. In conjunction with loan forgiveness, if a portion of a loan is canceled, the entire amount of interest that accrued on the loan will also be canceled. 

 

S.3746 - Stopping Doctor Shortages Act

Sponsor: Sen. Feinstein [D-CA]
Cosponsors: 2 (1D; 1R) 
Introduced: 05/14/2020 
NASFAA Summary & Analysis: This bill amends the Higher Education Act to allow full-time professionals engaged in health care practitioner occupations to be eligible for public service loan forgiveness. 

 

H.R.6825 - Teacher Loan Forgiveness Improvement Act of 2020

Sponsor: Rep. Luria [D-VA]
Cosponsors: 0
Introduced: 05/12/2020
NASFAA Summary & Analysis: This bill would increase loan forgiveness and loan cancellation for teachers. This bill increases the amount the Secretary shall repay for teachers from 5,000 to 15,000 after the fifth complete school year of teaching. In addition, for teachers in mathematics, science, or special education, the Secretary increases the loan forgiveness from 17,500 to 30,000. Finally, the Secretary shall increase loan cancellation for teachers from 5,000 to 15,000 and for teachers in mathematics, science, or special education increase loan cancellation for 17,500 to 30,000. 

 

H.R.6720 - Student Loan Forgiveness for Frontline Health Workers Act

Sponsor: Rep. Maloney [D-NY]
Cosponsors: 20 (20D; 0R) 
Introduced: 05/05/2020 
NASFAA Summary & Analysis: This bill aims to provide student loan forgiveness to health care workers who are on the front line in response to COVID–19. This loan forgiveness would be applied to any health care professional who is licensed, registered, or certified under Federal or State law who provides COVID-related health care services. This bill aims to forgive Federal student loans and eligible private student loans. 

 

H.R.6597 - Equity in Student Loan Relief Act

Sponsor: Rep. Stefanik [R-NY]
Cosponsors: 17 (13D; 24R)
Introduced: 04/22/2020
NASFAA Summary & Analysis: This bill would extend the temporary relief from student loan payments currently extended only to Federal Student loan borrowers to borrowers who hold loans under the FFEL program, even if not held by the Department of Education, as well. The Equity in Student Loan Relief Act would direct the Education Department to make the interest payments for FFEL borrowers, suspend student loan payments obligations and end all involuntary collections through Sept. 30.

 

H.R.6502 - COVID-19 Graduate Relief Act

Sponsor: Rep. Harder [D-CA]
Cosponsors: 12 (10D; 2R)
Introduced: 04/14/2020
NASFAA Summary & Analysis: This bill would allow borrowers a payment deferment for up to three years following the coronavirus pandemic and the enactment of this bill. Sen. Romney [R-UT] introduced a companion bill in the Senate in March.

H.R.748 - Coronavirus Aid, Relief, and Economic Security Act, "CARES" Act

Sponsor: Rep. Courtney [D-CT]
Cosponsors: 369 (200D; 169R)
Introduced: 1/24/2020
Became Law: 3/27/2020
NASFAA Summary & Analysis: The Coronavirus Aid, Relief, and Economic Security (CARES) Act, represents a compromise between Senate Republicans and Democrats for COVID-19 relief. The bill allocates nearly $14 billion to higher education in the Emergency Stabilization Fund. 90% of that will be allocated to institutions based 75% on the enrollment of full-time equivalent (FTE) Pell Grant recipients and 25% on enrollment of FTE non-Pell Grant recipients. Students who were enrolled exclusively in online, distance education courses prior to the COVID-19 emergency will be excluded from this calculation. Under the CARES Act, the non-federal share requirements of the Federal Work-Study (FWS) and Federal Supplemental Educational Opportunity Grant (FSEOG) programs would be waived for the 2019-20 and 2020-21 award years in cases where the non-federal share is paid by the institution. The bill would also allow institutions to transfer up to 100% of FWS funds into FSEOG during a period of a qualifying emergency. The bill grants ED the authority to exclude from subsidized loan usage calculations any portions of the Direct Loan period that the student is unable to complete due to the COVID-19 outbreak as well as allows ED to exclude from a student's Pell Grant Lifetime Eligibility Used (LEU) any Pell Grant amounts received during a period that the student is unable to complete due to this qualifying emergency. The bill allows ED to waive the return of Title IV funds (R2T4) requirements for schools or students to return unearned grant or loan assistance for students who withdrew because of COVID-19 and allows for the cancelation for the portion of a Direct Loan associated with a payment period which the student did not complete due to COVID-19. The bipartisan proposal suspends payments and interest accrual on federal Direct Loans and Federal Family Education Loans (FFEL) held by ED until Sept. 30, 2020. The bill also counts each month of suspended loan payments as if the borrower had made a payment for the purpose of income-driven repayment plan loan forgiveness or Public Service Loan Forgiveness, as well as for loan rehabilitation purposes.

H.R.6397 - Coronavirus Emergency Student Loan Refinancing Act

Sponsor: Rep. Courtney [D-CT]
Cosponsors: 40 (40D; 0R)
Introduced: 3/26/2020
NASFAA Summary & Analysis: This bill would allow a borrower who had a loan disbursed before July 1, 2020 to refinance their Direct Loan or their FFEL program loan. The refinanced interest rates would be applicable to each loan type. For undergraduate borrowers (at the time) with Federal Direct Stafford, Unsubsidized, PLUS, and Consolidation loans, the interest rate would be equal to the lowest yield on the 10-year Treasury note in the preceeding 6 months plus 2.05 percent; for the Federal Direct Stafford or Unsubsidized loans for graduate students (at the time) the interest rate would be equal to the lowest yield on the 10-year Treasury note in the preceding 6 months plus 3.6 percent, and for borrowers with PLUS loans, the new interest rate would be equal to the lowest yield on the 10-year Treasury note in the preceding 6 months plus 4.6 percent. This bill would also create a new loan type, the Federal Direct Refinanced Private Loan, which would allow borrowers of private loans to refinance their loans into the Federal Direct loan program. 

H.R.6316 - Emergency Relief for Student Borrowers Act of 2020

Sponsor: Rep. Dean [D-PA]
Cosponsors: 0
Introduced: 3/23/2020
NASFAA Summary & Analysis: This bill would require the federal government during the COVID–19 emergency period and the 6-month period immediately following to pay the total amount due for each  month for both federal and private loans based on the payment plan selected by the borrower or the borrower's loan status. The bill would also waive the interest on these loans during the same period of time. The payments would continue to count towards repayment for borrowers enrolled in PSLF and borrowers working towards rehabilitation.  

H.R.6363 - Student Debt Emergency Relief Act

Sponsor: Rep. Pressley [D-MA]
Cosponsors: 19 (19D; 0R)
Introduced: 3/23/2020
NASFAA Summary & Analysis: This bill would cancel at least $30,000 in outstanding federal student loan debt due to a national emergency as well as allow for loan payment deferment and interest waivers. The bill would also direct the Department of Education to halt all collection activity. 

S.3556 - COVID-19 Graduate Relief Act

Sponsor: Sen. Romney [R-UT]
Cosponsors: 0
Introduced: 3/20/2020
NASFAA Summary & Analysis: This bill would allow borrowers a payment deferment for up to three years following the coronavirus pandemic and the enactment of this bill. 

S.3543 - Public Service Loan Forgiveness Protection Act

Sponsor: Sen. Tester [D-MT]
Cosponsors: 0
Introduced: 3/19/2020
NASFAA Summary & Analysis: This bill would waive the requirement to make payments for borrowers enrolled in the Public Service Loan Forgiveness program during any period of time there is a qualifying emergency in the state that the borrower is employed. 

H.R.6275/S.3489 - Supporting Students in Response to Coronavirus Act

Sponsor: Rep. Scott [D-VA]
Cosponsors: 23 (23D; 0R)
Sponsor: Sen. Murray [D-WA]
Cosponsors: 2 (2D; 0R)
Introduced: 3/13/2020
NASFAA Summary & Analysis: This bill would provide more than $3 billion in funding for a variety of supports for preschool, K-12, and higher education, including a new student emergency grant fund. The bill also provides additional flexibility for certain Title IV statutory requirements for students and institutions impacted by the COVID-19 outbreak. The bill grants the Department of Education (ED) authority to exclude from Subsidized Usage Limits any academic period during which a student was unable to remain enrolled because of a qualifying emergency. It also permits ED authority to waive — for institutions who request such a waiver — the return of Title IV funds (R2T4) requirement for schools or students to return unearned grant or loan assistance for students who withdrew because of a qualifying emergency. The bill would also allow institutions broader authority to offer students, as a result of a qualifying emergency, approved Leaves of Absence (LOA). An infusion of $1.2 billion ($600,000 for fiscal year 2020 and 2021) is included in the bill for emergency financial aid for higher education institutions to award to students up to $1,500 each award year to help them meet unexpected expenses related to their basic needs during a qualifying emergency. Lastly, the bill also allows the Secretary to exclude from a student's Pell Grant Lifetime Eligibility Used (LEU) any semester (or equivalent) that that the student does not complete due to COVID-19.


H.R.6230 - PSLF Administrative Improvements Act

Sponsor: Rep. Boyle [D-PA]
Cosponsors: 1 (0D; 1R)
Introduced: 3/12/2020
NASFAA Summary & Analysis: This bill would require ED to create and maintain a publicly accessible database of eligible PSLF employers which would also include instructions on how to apply and complete an employment certification form. The bill would also require ED, to the extent practicable, work with relevant Federal agencies who possess information about public service employees and their loan status' to provide that information to ED to avoid the need for those employers to have to submit an employment certification form. The PSLF Administrative Improvements Act also calls for the creation of an online portal that allows borrowers to get information on why their loans may have been rejected for forgiveness, as well as the number of the payments they have left before receiving forgiveness.

H.R.3621 - Comprehensive CREDIT Act of 2020

Sponsor: Rep. Pressly [D-MA]
Cosponsors: 1 (1D; 0R)
Introduced: 1/30/2020
NASFAA Summary & Analysis: The Comprehensive Credit Reporting Enhancement, Disclosure, Innovation, and Transparency (CREDIT) Act is a series of bills related to consumer credit reporting. The package includes legislation that would provide new benefits and protections to private student loan borrowers who fall behind on their payments. Included in the CREDIT Act is the Student Borrower Credit Improvement Act which would allow private student loan borrowers to rehabilitate their defaulted or delinquent loan by making nine on-time monthly payments and would also require credit reporting agencies to remove any adverse marks on a borrower's credit history after he or she completes the rehabilitation. Under the bill, the Consumer Financial Protection Bureau (CFPB) would be responsible for promulgating regulations to carry out the rehabilitation program.

S.3243 - Simplifying Access to Student Loan Information Act of 2020

Sponsor: Sen. Shaheen [D-NH]
Cosponsors: 0 (0D; 0R)
Introduced: 1/28/2020
NASFAA Summary & Analysis: This bill would require private educational loan lenders to submit to the National Student Loan Data System (NSLDS) information regarding each private loan made to a student. The data to be made available would include the interest rate of the loan, the outstanding interest and principal, any available deferment or forbearance information attached to the loan, and information about the lender as well as the servicer if different parties. The bill would also allow co-signers of private education loans to access NSLDS as a separate account.

S.3055 - Student Loan Repayment Freedom Act

Sponsor: Sen. Murkowski [R-AK]
Cosponsors: 2 (1D; 1R)
Introduced: 12/16/2019
NASFAA Summary & Analysis: This bill would permit a student loan borrower to leave their income-based repayment plan and repay under any other loan repayment plan for which they are eligible.

H.R.5287 - Fair Student Loan Debt Collection Practices Act

Sponsor: Rep. Lawson [D-FL]
Cosponsors: 0
Introduced: 12/03/2019
NASFAA Summary & Analysis: This bill would prohibit collecting from a borrower during any period of time that a similar borrower would not be required to make a payment under an income-driven plan. Debt collectors would also be prohibited from collecting from a borrower an amount that is more than a similar borrower would have paid in one month under an IDR plan. Debt collectors would also be forced to certify that the borrower they are attempting to make a collection from are not eligible for any administrative discharges first.

H.R.4869 - Student Loan Default Reduction Program Act

Sponsor: Rep. Horn [D-OK]
Cosponsors: 0
Introduced: 10/28/2019
NASFAA Summary & Analysis: This bill would instead of only removing the record of a borrower's default from their credit history, remove any adverse item of information relating to the loan default from the borrower's credit history. 

H.R.4749 - Student Loan Relief Act of 2019

Sponsor: Rep. Clay [D-MO]
Cosponsors: 0
Introduced: 10/18/2019
NASFAA Summary & Analysis: This bill would allow loans that were made in the 20 years previous to its enactment to be refinanced to the current interest rate at the time of the issuance is made. 

H.R.4670 - Simplifying Student Loans Act

Sponsor: Rep. Wild [D-PA]
Cosponsors: 3 (3D; 0R)
Introduced: 10/11/2019
NASFAA Summary & Analysis: This bill would replace the current repayment plan choices with two options, a income-based repayment plan and a fixed repayment plan. The amount of time that a borrower would have to repay under the fixed repayment plan would be based on the amount of their student loan debt. Borrowers with $20,000 or less would have payments spread out over 10 years, borrowers with debt under $30,000 would have payments spread over 15 years, under $40,000 would equate to 20 years, and any borrower with greater than $40,000 of debt would have their payments fixed over 25 years. 

H.R.4658 - Empowering Student Borrowers Act

Sponsor: Rep. Murphy [D-FL]
Cosponsors: 0
Introduced: 10/11/2019
NASFAA Summary & Analysis: This bill would allow borrowers to enroll in an income-based repayment plan through an electronic, written or verbal process. 

H.R.4647 - Teacher Debt Relief Act

Sponsor: Rep. Hayes [D-CT]
Cosponsors: 1 (1D; 0R)
Introduced: 10/11/2019
NASFAA Summary & Analysis: This bill would allow teachers to enroll in both teacher debt forgiveness and public service loan forgiveness programs concurrently which allows teachers to receive their eligible forgiveness after 5 years of work, and then receive the rest after an additional 5 years, instead of having to start over after their partial teacher debt forgiveness  and complete the required 10 under PSLF. 

H.R.4645 - Public Service Loan Forgiveness Inclusion Act of 2019

Sponsor: Rep. Foster [D-IL] 
Cosponsors: 5 (4D; 1R)
Introduced: 10/11/2019
NASFAA Summary & Analysis: The bill would allow previously ineligible repayment plan payments to become eligible as a "qualifying payment" for the purpose of Public Service Loan Forgiveness (PSLF) if a borrower transfers to an eligible repayment plan within five years (first 60 payments) of entering full time employment. Currently ineligible repayment plans for PSLF include the graduated and extended plans.

H.R.4627 - Student Borrower Advocate Act

Sponsor: Rep. Scanlon [D-PA]
Cosponsors: 1 (1D; 0R)
Introduced: 10/08/2019
NASFAA Summary & Analysis: This bill would mandate the creation of a "borrower advocate" in the office of the PBO whose function would be to provide timely assistance to federal loan borrowers by responding to and reviewing their complaints about federal loans, working to resolve any complaints in the best interest of the borrowers, and reporting complaints to a state or accrediting agency if applicable. The borrower advocate would be responsible for publishing an annual report to ED that would summarize the complaints received from borrowers, including the number of complaints made.  

H.R.4607 - Not titled as of 11/13

Sponsor: Rep. Harder [D-CA]
Cosponsors: 4 (2D; 2R)
Introduced: 10/04/2019 
NASFAA Summary & Analysis: This bill would allow borrowers who have full-time jobs as health care practitioners and provide their services at a nonprofit, or public hospital or other nonprofit or public health care facility to be eligible for Public Service Loan Forgiveness. 

H.R.4596 - Student Loan Advocacy Act

Sponsor: Rep. Omar [D-MN]
Cosponsors: 1 (1D; 0R)
Introduced: 10/01/2019
NASFAA Summary & Analysis: This bill would update the purpose of the PBO to include prioritization to students and borrowers in decision-making processes, making federal aid programs more easily understandable to students and parents, managing costs, increasing efficiency, increasing accountability of officials who administer operational aspects of federal programs, and increasing oversight of schools. To ensure these improvements take place, the secretary of education would be responsible for implementing accountability and oversight measures to make sure the newly-defined purpose is accomplished. This bill would also mandate the creation of a "borrower advocate" in the office of the PBO whose function would be to provide timely assistance to federal loan borrowers by responding to and reviewing their complaints about federal loans, working to resolve any complaints in the best interest of the borrowers, and reporting complaints to a state or accrediting agency if applicable. The borrower advocate would be responsible for publishing an annual report to ED that would summarize the complaints received from borrowers, including the number of complaints made.

H.R.4590 - End Capitalization for Struggling Borrowers Act

Sponsor: Rep. Davis [D-IL]
Cosponsors: 2 (2D; 0R)
Introduced: 10/01/2019
NASFAA Summary & Analysis: This bill would eliminate student loan interest capitalization after forbearance and during certain periods of deferment. 

H.R.4502 - Giving Relief And Dollars to Undergraduates for Adequate Time for Education Act

Sponsor: Rep. Casten [D-IL]
Cosponsors: 3 (3D; 0R)
Introduced: 09/26/2019
NASFAA Summary & Analysis: This bill would repeal section 1087e(q) of the Higher Education Act, which would eliminate the requirement that students may only receive Federal student loans within a time frame equal to 150% of the published length of the program they are enrolled in.

H.R.4517 - Promoting Apprenticeships in Public Service Act

Sponsor: Rep. Cicilline [D-RI] 
Cosponsors: 3 (3D; 0R)
Introduced: 09/26/2019
NASFAA Summary & Analysis: This legislation would direct the Secretary of Education to cancel or repay up to $25,000 in loans for any borrower that received a certificate from a registered apprenticeship program and then completes two years of full-time employment at a qualifying public service job. 

H.R. 4395 - Clean Slated Through Consolidation Act

Sponsor: Rep. Stevens [D-MI] 
Cosponsors: 1 (1D; 0R)
Introduced: 09/19/2019
NASFAA Summary & Analysis: The Clean Slated Through Consolidation Act would allow borrowers who have defaulted on their student loans to have that default removed from their credit history if they receive a loan consolidation for the amount. 

H.R. 4396 - Clean Slated Through Repayment Act

Sponsor: Rep. Mucarsel-Powell [D-FL]
Cosponsors: 1 (1D; 0R)
Introduced: 09/19/2019
NASFAA Summary & Analysis: The Clean Slated Through Repayment Act would remove the record of default on a borrower's credit history upon total repayment of the full amount due. 

S.2523 - Adjunct Faculty Loan Fairness Act of 2019

Sponsor: Sen. Durbin [D-IL]
Cosponsors: 3 (3D; 0R)
Introduced: 09/19/2019
NASFAA Summary & Analysis: This bill would allow adjunct faculty, defined as a part-time faculty member who teaches not less than 1 course at an institution of higher education and is not employed on a full-time basis by any other employer, to qualify for public service loan forgiveness. 

H.R.4391 - Public Service Loan Forgiveness Modernization Act

Sponsor: Rep. Panetta [D-CA]
Cosponsors: 8 (8D; 0R)
Introduced: 09/18/2019
NASFAA Summary & Analysis: The Public Service Loan Forgiveness Modernization Act would mandate the creation of an easily searchable database of all PSLF eligible employers, and the positions under that employer. The Act would also create a process for an employer to electronically submit a certification form that would inform ED that they are a qualified employer. In addition, the Act would require ED to provide each borrower an annual statement that includes the number of monthly payments made by the borrower, the number of payments that qualify for PSLF, and the number of monthly payments the borrower has left before they can apply for forgiveness. 

H.R.4310 - Public Service Expansion Act

Sponsor: Rep. Boyle [D-PA]
Cosponsors: 0
Introduced: 09/12/2019
NASFAA Summary & Analysis: The Public Service Expansion Act would allow employment in any position at a nonprofit organization to be counted as a public service job and eligible for public service loan forgiveness. 

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.

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 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.

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.

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.

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.

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.

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%.

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.

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.

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%.

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.

 

115th Session of Congress

 

Affordable Loans for Any Student Act
S. 3584 Sponsor:
Sen. Merkley (D-OR)
Co-Sponsors:
7 (0 R; 7 D)
Introduced:
10/11/2018
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.
       
Recent Grads in Start-Ups and Innovation Act
HR 6579 Sponsor:
Rep. Aguilar (D-CA)
Co-Sponsors:
0 (0 R; 0 D)
Introduced:
7/26/2018
NASFAA Analysis & Coverage: Under this bill, borrowers owning small businesses (as defined in the Small Business Act) would be eligible for deferment on their Federal Direct Loans for up to four years. To be eligible, borrowers must verify they have at least one employee and that their business is located in a qualified “opportunity zone” (defined as an economically-distressed community certified by the Treasury Department and IRS). The bill would require ED and the Small Business Administration to submit a report to Congress on program outcomes one year after the first granted deferment.
       
Aim Higher Act
HR 6543 Sponsor:
Rep. Scott (D-VA)
Co-Sponsors:
57 (0 R; 57 D)
Introduced:
7/26/2018
NASFAA Analysis & Coverage: The Aim Higher Act is a comprehensive Higher Education Act (HEA) reauthorization bill with notable changes to the federal student aid programs. 
       
Parent PLUS Improvement Act
HR 6280 Sponsor:
Rep. Fudge (D-OH)
Co-Sponsors:
12 (0 R; 12 D)
Introduced:
6/28/2018
NASFAA Analysis & Coverage: This piece of legislation would make several changes to the Parent PLUS Loan program. The legislation would lower interest rates, eliminate the origination fee, require in-person or online loan entrance counseling, and allow Parent PLUS borrowers to participate in income-contingent and income-based repayment plans.
       
HELPS Act
S. 3124 Sponsor:
Sen. Heitkamp (D-ND)
Co-Sponsors:
1 (0 R; 1 D)
Introduced:
6/25/2018
NASFAA Analysis & Coverage: Under this bill, the Help Encourage a Lifetime of Public Service (HELPS) Act, interest would not accrue for qualifying loans made on or after the bill's enactment date for individuals employed in public service fields as outlined in the Higher Education Act. Eligible borrowers would be required to submit an annual employment certification form in order to receive the waiver each year. The bill would add 'volunteer first responder' and 'employee or manager of a qualified farm or ranch' to the 'public service job' definition.
       
Protecting JOBs Act
S. 3065 Sponsor:
Sen. Rubio (R-FL)
Co-Sponsors:
1 (0 R; 1 D)
Introduced:
6/14/2018
HR 6156 Sponsor:
Rep. Ferguson (R-GA)
Co-Sponsors:
5 (2 R; 3 D)
Introduced:
6/20/2018
NASFAA Analysis & Coverage: This bill, the Protecting Job Opportunities for Borrowers (JOBs) Act, would prohibit states from suspending, revoking, or denying state-issued professional licenses or issuing penalties based solely on an individual's default or delinquency status on a Title IV student loan.
       
Strengthening American Communities Act
S. 2984 Sponsor:
Sen. Cardin (D-MD)
Co-Sponsors:
0 (0 R; 0 D)
Introduced:
5/24/2018
NASFAA Analysis & Coverage: This bill would provide free tuition at community colleges for a student's first two years and a tuition reduction for low-income students in their first two years at minority-serving institutions. To be eligible, states would be required to put up 25% of the funds with other completion and outcomes requirements, while the federal government would contribute 75% of funds. The bill would also create the “National Public Service Education Grant Program” (NPSEG), a first dollar grant program that would cover the average cost of in-state tuition, fees, and room and board for two years. Students attending minority-serving institutions would receive actual cost for tuition, fees, and room and board for two years. If a gap exists between the federal grant and aforementioned costs, institutions would commit to cover the difference using grant and work-study awards. To qualify for NPSEG, students would agree to work for at least 3 years in a public service job after graduation. Failure to graduate or complete the service requirement would mean the previously awarded grant would be treated as a Federal Direct Unsubsidized Loan. The bill would create an accelerated Public Service Loan Forgiveness program for NPSEG recipients.
       
STEM K to Career Act
HR 5962 Sponsor:
Rep. Swalwell (D-CA)
Co-Sponsors:
4 (0 R; 4 D)
Introduced:
5/24/2018
NASFAA Analysis & Coverage: This bill would provide loan forgiveness for full-time STEM teachers employed by approved low-income schools and educational service agencies. 
       
Skilled Labor Education Act
HR 5944 Sponsor:
Rep. Maloney (D-NY)
Co-Sponsors:
0 (0 R; 0 D)
Introduced:
5/23/2018
NASFAA Analysis & Coverage: This bill would create multiple grant programs to support the training of career and technical education (CTE) teachers. Under the “Scholarships to Prepare Career and Technical Education Teachers” provision, institutions offering approved education programs would qualify to award scholarships of $5,000 per academic year (maximum of two years) to selected teacher candidates. After graduation, recipients would be obligated to serve as full-time CTE teachers at a secondary school for each year of scholarship support they received. Failure to comply would mean the previously awarded scholarship would be treated as a Federal Direct Unsubsidized Loan. The bill would also cancel Federal Perkins Loans for eligible part-time public service.
       
Jobs for Justice Act Act
HR 5785 Sponsor:
Rep. Richmond (D-LA)
Co-Sponsors:
44 (0 R; 44 D)
Introduced:
5/11/2018
NASFAA Analysis & Coverage: This comprehensive bill would make several changes to several federal student aid programs. The bill would make adjustments to the Parent PLUS program, including reducing interest rates, eliminating origination fees, adding upfront counseling requirements, and the inclusion of Parent PLUS in income-contingent and income-based repayment plans. The bill would allow Early College Pell Grants to be awarded to students enrolled in postsecondary courses offered in high schools in an amount up to the cost of four full-time postsecondary semesters. This early award would count toward the maximum period for which a student may receive Federal Pell Grants. The bill would also make Federal Pell Grants mandatory funding, setting the maximum Pell Grant award at $6,420 for award year 2020 and restoring the annual inflation-adjustment on the maximum award moving forward. In addition, the legislation would reinstate Pell eligibility for incarcerated individuals. Further, the bill would create a federal partnership grant with states and Indian tribes to waive tuition and fees for two years at eligible community colleges, as well as grant programs to waive or significantly reduce tuition and fees for eligible students at 4-year HBCUs and MSIs. This act would create a grant program to support employers hiring recent college graduates, and to compensate recent college graduates in taking additional STEM courses. The bill would also extend PSLF to environmental health workers.
       
REDI Act
HR 5734 Sponsor:
Rep. Babin (R-TX)
Co-Sponsors:
0 (0 R; 0 D)
Introduced:
5/9/2018
NASFAA Analysis & Coverage: This bill, the Resident Education Deferred Interest (REDI) Act, would provide interest-free deferment on student loans for borrowers serving in a medical or dental internship or residency program.
       
HIGHER ED Act
HR 5549 Sponsor:
Rep. Rep. DeFazio (D-OR)
Co-Sponsors:
0 (0 R; 0 D)
Introduced:
4/18/2018
NASFAA Analysis & Coverage: This bill, the Helping Individuals Get a Higher Education while Reducing Education Debt (HIGHER ED) Act, would reinstate graduate student eligibility for the Direct subsidized loan and allow borrowers to discharge student loans in bankruptcy. It would also narrow repayment plan enrollment options to one standard and one income-based plan and raise the minimum salary threshold for IDR plans to 225 percent of the federal poverty level. IDR interest accrual would be capped at 50 percent of the original loan principal. The bill would also mandate ED and the Department of the Treasury to conduct a study on determining family size for automatic IDR recertification. Additionally, the HIGHER ED Act would create a refinancing program for FFEL and Direct loans and allow monthly payments made before refinancing to count towards the 120 qualifying payments for PSLF. This legislation would also provide loan forgiveness to adjunct faculty at vocational institutions and Tribal Colleges or Universities.
 
FARMS Act
S. 2684 Sponsor:
Sen. Udall (D-NM)
Co-Sponsors:
2 (1 R; 1 D)
Introduced:
4/17/2018
NASFAA Analysis & Coverage: This bill, the Flexible Agricultural Repayments and Modifying Schedules (FARMS) Act, would allow certain qualifying agricultural producers to make federal student loan payments on a quarterly, biannual, or annual basis.
       
Student Loan Forgiveness for Farmers and Ranchers Act
S. 2682 Sponsor:
Sen. Murphy (D-CT)
Co-Sponsors:
1 (0 R; 1 D)
Introduced:
4/17/2018
NASFAA Analysis & Coverage: This bill would create a new federal student loan forgiveness program, structured similarly to PSLF, for employees or managers of a qualified farm or ranch. The program would require 120 qualifying monthly payments after which any remaining balance would be canceled. 
       
Debt-Free College Act
HR 5384 Sponsor:
Rep. Pocan (D-WI)
Co-Sponsors:
23 (0 R; 23 D)
Introduced:
3/22/2018
S. 2598 Sponsor:
Sen. Schatz (D-HI)
Co-Sponsors:
8 (0 R; 8 D)
Introduced:
3/22/2018
NASFAA Analysis & Coverage: This bill would create a new federal-state partnership program that aims to assist students in covering the full cost of attendance at public institutions by requiring participating states to provide a "debt-free college commitment" to eligible students. Eligible students must be enrolled in a public institution, complete the FAFSA, and maintain satisfactory academic progress (SAP). Funds available as part of this federal-state partnership would be disbursed first to Pell Grant recipients (to cover all unmet need) and then to all remaining students with unmet need (to cover part or all of unmet need).  
       
Education for Jobs Act
HR 5371 Sponsor:
Rep. Lujan Grisham (D-NM)
Co-Sponsors:
0 (0 R; 0 D)
Introduced:
3/21/2018

NASFAA Analysis & Coverage: This bill would expand eligibility for Direct Loans to students enrolled in at least three credit hours (or the equivalent coursework) in a program leading to a degree or certificate as long as the student was employed on a full-time basis for not less than 10 years. 

 
STRIVE Act
HR 4914 Sponsor:
Rep. Norcross (D-NJ)
Co-Sponsors:
1 (0 R; 1 D)
Introduced:
2/2/2018
S. 2370 Sponsor:
Sen. Booker (D-NJ)
Co-Sponsors:
2 (0 R; 2 D)
Introduced:
2/5/2018

NASFAA Analysis & Coverage: This bill, the Supporting the Teaching profession through Revitalizing Investments in Valuable Educators (STRIVE) Act, would make several changes to teacher loan forgiveness and the TEACH Grant, among other provisions aimed at elementary and secondary education teachers. Regarding teacher loan forgiveness, the bill would create a new teacher loan forgiveness program. The program would provide incremental loan forgiveness to teachers (15% to certain teachers based on subject area per year for 5 years; 10% to remaining full-time teachers per year for 6 years; and 5% for part-time teachers per year for 6 years). Qualifying teachers would receive total forgiveness a year following the partial forgiveness period, as long as the teacher remains in a qualifying position. The bill would also increase the TEACH Grant annual amount to $12,000 (from $4,000) and would increase the aggregate limit accordingly (from $16,000 to $48,000 for undergraduate and post-baccalaureate students and from $8,000 to $16,000 for graduate students). The bill makes a few adjustments to eligibility and develops a process to forgive a certain percentage of a TEACH Grant loan conversion based on partial fulfillment of the service obligation.

       
Public Service Loan Forgiveness Inclusion Act
HR 4859 Sponsor:
Rep. Foster (D-IL)
Co-Sponsors:
3 (0 R; 3 D)
Introduced:
1/19/2018
NASFAA Analysis & Coverage: The bill would allow previously ineligible repayment plan payments to become eligible as a "qualifying payment" for the purpose of Public Service Loan Forgiveness (PSLF) if a borrower transfers to an eligible repayment plan within five years (first 60 payments) of entering full time employment. Currently ineligible repayment plans for PSLF include the graduated and extended plans.
       
Domenic's Law
S. 2258 Sponsor:
Sen. Portman (R-OH)
Co-Sponsors:
2 (0 R; 1 D; 1 I)
Introduced:
12/20/2017
NASFAA Analysis & Coverage: This bill would allow a parent whose dependent develops a total and permanent disability to qualify for student loan discharge of loans borrowed on behalf of the dependent for his or her education.
       
College Loan Deferment for Recovery Act
HR 4597 Sponsor:
Rep. MacArthur (R-NJ)
Co-Sponsors:
3 (0 R; 3 D)
Introduced:
12/7/2017
NASFAA Analysis & Coverage: This bill would allow federal student loan borrowers (Direct Loans, FFELP, and Perkins) enrolled in a "drug treatment program," which must be "certified or licensed by a State to provide drug treatment in the State," to defer their loans for the period of enrollment in the drug treatment program and 30 days following enrollment. Interest on Unsubsidized Stafford Loans would not accrue. 
       
Student Security Act
HR 4584
Sponsor:
Rep. Garrett (R-VA)
Co-Sponsors:
4 (4 R; 0 D)
Introduced:
12/7/2017
NASFAA Analysis & Coverage: This bill would provide loan forgiveness "credits" to federal student loan borrowers in exchange for voluntarily delaying receipt of social security benefits. Each credit equals $550 in loan cancellations. The number of credits a borrower elects to receive delays receipt of social security benefits by the equivalent number of months. 
       
Volunteer First Responder Loan Forgiveness Act
S. 2207 Sponsor:
Sen. Tester (D-MT)
Co-Sponsors:
2 (0 R; 2 D)
Introduced:
12/7/2017
NASFAA Analysis & Coverage: This bill would add "qualified volunteer first responder," which may include "firefighters, law enforcement officers, emergency medical personnel, or other first responders to emergencies," to those eligible for Public Service Loan Forgiveness (PSLF). 
       
PROSPER Act
HR 4508 Sponsor:
Rep. Foxx (R-NC) 
Co-Sponsors:
21 (21 R; 0 D)
Introduced:
12/1/2017 
NASFAA Analysis & Coverage: The Promoting Real Opportunity, Success, and Prosperity through Education Reform (PROSPER) Act is a comprehensive Higher Education Act (HEA) reauthorization bill with notable changes to the federal student aid programs. 
Status: 12/13/2017: Passed House of Representatives Committee on Education and the Workforce
       
PSLF Technical Corrections Act
HR 4399
Sponsor:
Rep. Boyle (D-PA)
Co-Sponsors:
3 (2 R; 1 D)
Introduced:
11/15/2017
S. 2136 Sponsor:
Sen. Whitehouse (D-RI)
Co-Sponsors:
2 (0 R; 2 D)
Introduced:
11/16/2017
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.
       
Help Students Repay Act
HR 4372
Sponsor:
Rep. Ferguson (R-GA)
Co-Sponsors:
5 (5 R; 0 D)
Introduced:
11/13/2017
NASFAA Analysis & Coverage: This bill would consolidate the repayment plans into a single income-driven repayment (IDR) plan and a 10-year standard plan. The bill contains safeguards against negative amortization in the IDR plan by capping interest accrual at the 10-year standard plan. 
       
Student Loan Refinancing and Recalculation Act
HR 4001 Sponsor:
Rep. Garamendi (D-CA)
Co-Sponsors:
19 (2 R; 17 D)
Introduced:
10/10/2017
NASFAA Analysis & Coverage: This bill would allow for refinancing of both Direct Loans and FFELP Loans. The bill would also lower the percentage add-on to the 10-year Treasury bill in the calculation of interest rates to one percent for undergraduate, graduate, and parent borrowers. In addition, the bill would eliminate origination fees. 
       
Student Loan Relief Act 
HR 4000 Sponsor:
Rep. Comstock (R-VA)
Co-Sponsors:
0 (0 R; 0 D)
Introduced:
10/10/2017
NASFAA Analysis & Coverage: This bill would create a 3-year program to facilitate federal student loan refinancing into the private market, housed in the Department of the Treasury. Refinanced loans under their program would carry a federal government guarantee of 95%. The bill instructs the Departments of Treasury and Education to undertake a national awareness campaign on the temporary refinancing program with a disclose that loans refinanced through this program would not be eligible for income-driven repayment or loan forgiveness. The bill would also exempt employer payments of interest on the refinanced loans from the calculation of gross income for income tax purposes. 
       
Adjunct Faculty Loan Fairness Act
S. 1927 Sponsor:
Sen. Durbin (D-IL)
Co-Sponsors:
4 (0 R; 4 D)
Introduced:
10/5/2017
NASFAA Analysis & Coverage: This bill allows part-time adjunct faculty members, who are not employed on a full-time basis by any other employer, to qualify for the Public Service Loan Forgiveness (PSLF) program.
       
Student Loan Fair Prepayment Act
HR 3836 Sponsor:
Rep. Davis (D-CA)
Co-Sponsors:
0 (0 R; 0 D)
Introduced:
9/26/2017
NASFAA Analysis & Coverage: This bill would require a borrower's prepayment amount on a Federal Family Education Loan, Federal Direct Loan, or Federal Perkins Loan to be applied first toward outstanding fees and then, unless the borrower requests otherwise, in the following order: (1) toward the principal due on the loan with the highest interest rate, if multiple loans have different interest rates; and (2) toward the principal due on the loan with the highest balance, if multiple loans have the same interest rate. The bill also requires private lenders to apply prepayments in the same way.
       
Eliminating the Hidden Student Loan Tax Act
HR 3835 Sponsor:
Rep. Davis (D-CA)
Co-Sponsors:
0 (0 R; 0 D)
Introduced:
9/26/2017
NASFAA Analysis & Coverage: This bill would eliminate origination fees on all Direct Loans, effective on loans disbursed on or after July 1, 2017. 
       
Student Loan Servicer Performance Accountability Act
S. 1675 Sponsor:
Sen. Blunt (R-MO)
Co-Sponsors:
3 (1 R; 2 D)
Introduced:
7/31/2017
NASFAA Analysis & Coverage: This bill cancels the Department of Education's 2016 loan servicing solicitations and amendments. The bill prohibits the Department from issuing any future servicing solicitations unless the proposal provides for the participation of multiple servicers that contract directly with the Department and allocates borrower accounts to servicers based on performance. 
       
Student Loan Borrowers' Bill of Rights Act
HR 3630 Sponsor:
Rep. Wilson (D-FL)
Co-Sponsors:
0 (0 R; 0 D)
Introduced:
7/28/2017
NASFAA Analysis & Coverage: The bill provides bankruptcy protections for federal and private student loans, reestablishes a statute of limitations on student loan debt collection, and prohibits the garnishment of wages, tax refunds, and Social Security benefits. The bill expands PSLF by allowing borrowers in public service jobs the ability to have half of their loan balance forgiven in five years. The bill allows Parent PLUS loans to be repaid through income-based repayment and forgiven through Public Service Loan Forgiveness (PSLF). In addition, the bill prohibits loan default from preventing a student from accessing transcripts or other certifications or from being used against a borrower in a Federal or State proceeding involving the individual's professional or vocation license. The bill also excludes student loan discharge or forgiveness from the calculation of gross income for income tax purposes. 
       
Making College More Affordable Act
HR 3572 Sponsor:
Rep. Cicilline (D-RI)
Co-Sponsors:
7 (0 R; 7 D)
Introduced:
7/28/2017
NASFAA Analysis & Coverage: This bill would eliminate undergraduate eligibility for Federal Direct Stafford Loans and instead create the "Federal Interest Free Education Loan," where borrowers would repay their loan through mandated automatic deductions from pre-tax income. The loan would have an aggregate limit of $90,000 over four years only. A borrower may consolidate any Federal Direct Loan into the new loan program. Borrowers would repay this loan based on a percentage of their income over the course of 30 years, starting at 4% for those borrowers earning less than $100,000 and increasing progressively with a cap at 10% for borrowers making over $150,000. No payment would be due if a borrower's income is below roughly 337% of the federal poverty line (currently about $40,000 for an individual). In addition, no interest accrues on the loan unless "a borrower is not earning taxable income due to professional negligence, professional incompetence, or malicious action on the part of the borrower." All remaining loan balance would be canceled after 300 monthly payments (25 years), and the balance canceled would be subject to income tax. 
       
GPA Act
HR 3560 Sponsor:
Rep. Aguilar (D-CA)
Co-Sponsors:
0 (0 R; 0 D)
Introduced:
7/28/2017
NASFAA Analysis & Coverage: This bill, the Grace Period Alleviation Act, would allow borrowers of Direct Subsidized Loans and Direct Unsubsidized Loans the option to extend the grace period for an additional six months for a total of twelve months. A borrower would be informed of this option by the Department of Education at least 45 days prior to the start of the borrower's repayment period. Subsidized loans would not accrue interest during the grace period extension, but unsubsidized loans would continue to accrue interest during this period. In addition, the bill eliminates the temporary provision that led Direct Subsidized Loans disbursed between July 1, 2012, and July 1, 2014, to accrue interest during the grace period. 
       
SIMPLE Act
HR 3554 Sponsor:
Rep. Bonamici (D-OR)
Co-Sponsors:
5 (2 R; 3 D)
Introduced:
7/28/2017
S. 1712 Sponsor:
Sen. Wyden (D-OR)
Co-Sponsors:
0 (0 R; 0 D)
Introduced:
8/2/2017
NASFAA Analysis & Coverage: This bill, the Streamlining Income-driven, Manageable Payments on Loans for Education Act, would auto-enroll delinquent borrowers in an income-driven repayment (IDR) plan and automatically recertify income and family size on an annual basis for borrowers already enrolled in IDR plans.
       
Student Opportunity Act
HR 3346 Sponsor:
Rep. Lawson (D-FL)
Co-Sponsors:
12 (0 R; 12 D)
Introduced:
7/20/2017

NASFAA Analysis & Coverage: This bill makes a number of federal lending changes. The bill would eliminate origination fees, create a new loan refinancing program for loans made under the Direct Loan Program and the FFEL Program, and lower interest rates. The refinanced loan would have an administrative fee of not more than .5% and a fixed interest rate of the most recent 10-year Treasury note plus .5%. For loans issued after July 1, 2018, the interest rate for undergraduates would be equal to the 10-year Treasury note plus .5% or 8.25%. For Federal Direct Unsubsidized Stafford Loans for graduate and professional students, the interest rate would be equal to the June 10-year Treasury note plus .5% or 9.5%. For PLUS loans, the interest rate would be equal to the June 10-year Treasury note plus .5% or 10.5%. In addition, the bill includes a provision to exempt loan forgiveness and discharge from gross income for income tax purposes. 

       
Student Loan Relief Act
S. 1521 Sponsor:
Sen. Nelson (D-FL)
Co-Sponsors:
0 (0 R; 0 D)
Introduced:
7/10/2017
HR 3390 Sponsor:
Rep. Castor (D-FL)
Co-Sponsors:
1 (0 R; 1 D)
Introduced:
7/25/2017
NASFAA Analysis & Coverage: This bill makes a number of federal lending changes. The bill would eliminate origination fees, create a new loan refinancing program for loans made under the Direct Loan Program and the FFEL Program, and lower interest rates. For new loans issued after July 1, 2018, the interest rate for undergraduates would be equal to the lesser of the 10-year Treasury note plus the Federal Reserve discount rate or 4%. For Federal Direct Unsubsidized Stafford Loans for graduate and professional students, the interest rate would be equal to the lesser of the 10-year Treasury note plus the Federal Reserve discount rate or 5%. For PLUS loans, the interest rate would be equal to the lesser of the 10-year Treasury note plus the Federal Reserve Discount rate or 6%. The bill creates a refinancing program that allows both FFEL and DL borrowers to refinance at current interest rates. For consolidated loans, the interest rate would be equal to a weighted average of the current interest rate for each proportion of the consolidated loan. 
       
ISA Act
HR 3145 Sponsor:
Rep. Messer (R-IN)
Co-Sponsors:
11 (8 R; 3 D)
Introduced:
6/29/2017
NASFAA Analysis & Coverage: This piece of legislation, the Investing in Student Achievement (ISA) Act, works to establish the legal and tax framework for income-share agreements (ISAs). The bill establishes standard terms and conditions required for a repayment agreement between a private entity and a student to be considered an "income-share agreement" for tax purposes. The bill would exempt proceeds received by a student as part of the income-share agreement to cover education costs from income and asset for need analysis. 
       
Transform Student Debt to Home Equity Act
HR 3134 Sponsor:
Rep. Kaptur (D-OH)
Co-Sponsors:
7 (0 R; 7 D)
Introduced:
6/29/2017
NASFAA Analysis & Coverage: This bill authorizes the creation of a two-year pilot program led by the Secretary of Housing and Urban Development (HUD) and the Director of the Federal Housing Finance Agency (FHFA) to incentivize borrowers with federal student loan debt to buy certain homes. The pilot program allows HUD and FHFA to offer any assistance to eligible borrowers jointly deemed appropriate, such as more flexible underwriting or a discount on the appraised value of the home. Eligible properties include those owned by HUD, Fannie Mae, and Freddie Mac (as a result of foreclosure). Eligible applicants include those borrowers with an outstanding balance of principal or interest on FFEL, Direct Loans, or Perkins Loans that are in repayment or in a grace period, but not in litigation, default, or wage garnishment. Eligible applicants may not have owned a home during the past 3 years.
       
Strengthening Loan Forgiveness for Public Servants Act
S. 1412 Sponsor:
Sen. Blumenthal (D-CT)
Co-Sponsors:
9 (0 R; 9 D)
Introduced:
6/22/2017
HR 3026 Sponsor:
Rep. Swalwell (D-CA)
Co-Sponsors:
5 (0 R; 5 D)
Introduced:
6/22/2017
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%.
       
Fairness in Forgiveness Act
HR 2992 Sponsor:
Rep. Swalwell (D-CA)
Co-Sponsors:
7 (0 R; 7 D)
Introduced:
6/21/2017
NASFAA Analysis & Coverage: This bill would expand eligibility for public service loan forgiveness to current and former long-time employees at all 16 privately operated Department of Energy National Laboratories. Eligibility would be retroactive to October 1, 2007. 
       
Deferment for Active Cancer Treatment Act
HR 2976 Sponsor:
Rep. Ros-Lehtinen (R-FL)
Co-Sponsors:
70 (16 R; 54 D)
Introduced:
6/21/2017
S. 3207 Sponsor:
Sen. Nelson (D-FL)
Co-Sponsors:
2 (1 R; 1 D)
Introduced:
7/12/2018
NASFAA Analysis & Coverage: This piece of legislation would allow federal student loan borrowers who are receiving cancer treatment to defer their loan payments with no interest accrual. 
       
American Arts Revival Act
HR 2970 Sponsor:
Rep. Velazquez (D-NY)
Co-Sponsors:
16 (1 R; 15 D)
Introduced:
6/20/2017
NASFAA Analysis & Coverage: This bill would expand eligibility for the Public Service Loan Forgiveness (PSLF) program for those employed in the arts and humanities. Specifically, the bill would expand PSLF eligibility to include certain cultural workers, museum professionals, artistic professionals, art and humanities professors, and music and art educators.
       
 Joint Consolidation Loan Separation Act
S. 1384 Sponsor:
Sen. Warner (D-VA)
Co-Sponsors:
3 (2 R; 1 D)
Introduced:
6/20/2017
HR 2949 Sponsor:
Rep. Price (D-NC)
Co-Sponsors:
1 (1 R; 0 D)
Introduced:
6/20/2017
NASFAA Analysis & Coverage: This bill would allow a married couple or a previously married couple who pursued a joint loan, to separate their consolidation. 
       
RISE Act 
HR 2848 Sponsor:
Rep. Gallego (D-AZ)
Co-Sponsors:
1 (0 R; 1 D)
Introduced:
6/8/2017
NASFAA Analysis & Coverage: The Relief and Investment for Student Entrepreneurs (RISE) Act offers a three-year interest-free deferment period for federal student loans to "qualified entrepreneurs." The bill also allows entrepreneurs who start businesses in Historically Underutilized Business Zones (HUBZones) to receive up to $17,500 in Direct Loan forgiveness.
       
Teacher Loan Repayment Act
S. 1247 Sponsor:
Sen. Hatch (R-UT)
Co-Sponsors:
1 (0 R; 1 D)
Introduced:
5/25/2017
HR 2753 Sponsor:
Rep. Kilmer (D-WA)
Co-Sponsors:
1 (1 R; 0 D)
Introduced:
5/26/2017
NASFAA Analysis & Coverage: This bill would provide a loan repayment program for teachers who are employed in high-need schools. The bill would eliminate the TEACH Grant Program and sunset existing teacher loan forgiveness programs for both Perkins Loan and Direct Loan borrowers. In their place, this piece of legislation would create a new loan repayment program for teachers in low-income schools, as defined in the bill. The program would provide direct loan payments of $250 a month for the first and second year of teaching, $300 a month for the third year of teaching, $350 a month for the fourth year of teaching, and $400 a month for the fifth and sixth year of teaching with a $23,400 aggregate maximum.
       
Native Education Support and Training (NEST) Act
HR 2727 Sponsor:
Rep. Ruiz (D-CA)
Co-Sponsors:
0 (0 R; 0 D)
Introduced:
5/25/2017
NASFAA Analysis & Coverage: This bill would establish scholarships, loan forgiveness plans, and training programs for educators who commit to teaching in Native American or Bureau of Indian Education (BIE) schools. The bill would create three scholarship programs, including two for Indian students seeking undergraduate or graduate degrees, and one for students seeking undergraduate degrees, for students who commit to teaching in a BIE school for at least three years. To receive loan forgiveness, students must teach for at least five consecutive years. The bill also provides grants for institutions of higher education looking to develop training programs for Native American immersion and language teachers.
       
Student Loan Lower Interest Rate and Lower Monthly Payment Refinancing Act
HR 2725 Sponsor:
Rep. Rokita (R-IN)
Co-Sponsors:
3 (0 R; 3 D)
Introduced:
5/25/2017
NASFAA Analysis & Coverage: This bill would create a new federal student loan refinancing program. Under the bill, borrwers can refinance loans from the FFEL, Direct Loan, and Perkins Loan programs at a variable interest rate (the daily average of 1-month London Inter Bank Offered Rate (LIBOR) for United States dollars in effect for each of the days in the prior calendar quarter as compiled and released by the British Bankers Association plus 3.5%). To pay for the cost of the refinancing program, the bill caps Public Service Loan Forgiveness (PSLF) for new borrowers as of 7/1/17 at $57,500 and restores the original terms of the income-based repayment (IBR) plan for graduate and professional student borrowers only for new borrowers as of 7/1/17 from 10% of discrentionary income to 15% and a 25-year repayment period from 20 years.
       
Federal Student Loan Refinancing Act
HR 2718 Sponsor:
Rep. Peters (D-CA)
Co-Sponsors:
21 (0 R; 21 D)
Introduced:
5/25/2017
NASFAA Analysis & Coverage: This measure would automatically refinance interest rates on loans made under the Direct Loan Program and the FFEL Program to four percent. The newly consolidated loan will have 0.4% origination fee on the principal balance. 
       
Private Student Loan Bankruptcy Fairness Act 
HR 2527 Sponsor:
Rep. Cohen (D-TN)
Co-Sponsors:
22 (0 R; 22 D)
Introduced:
5/18/2017
NASFAA Analysis & Coverage: This bill would allow private student loans to be discharged in bankruptcy.
       
FAIR Student Credit Act
S. 1066 Sponsor:
Sen. Peters (D-MI)
Co-Sponsors:
1 (1 R; 0 D)
Introduced:
5/8/2017
NASFAA Analysis & Coverage: This bill, the Federal Adjustment in Reporting (FAIR) Student Credit Act, would allow private loan lenders the ability to offer a loan rehabilitation program with the result of removing a private student loan default from a borrower's credit history if successfully completed. This private loan rehabilitation program would only be available one time per loan if a lender chooses to implement such a program.
       
Discharge Student Loans in Bankruptcy Act 
HR 2366 Sponsor:
Rep. Delaney (D-MD)
Co-Sponsors:
17 (1 R; 16 D)
Introduced:
5/4/2017

NASFAA Analysis & Coverage: This bill would allow all student loans, including both private and government loans, to be discharged in bankruptcy.

       
PLUS Loan Disability Forgiveness Act 
HR 2270 Sponsor:
Rep. Langevin (D-RI)
Co-Sponsors:
3 (2 R; 1 D)
Introduced:
5/1/2017
NASFAA Analysis & Coverage: This bill would allow parent PLUS loans to be discharged in the case of a total and permanent disability (TPD) of the student on whose behalf the parent has received the loan. 
       
Ensuring Children's Access to Specialty Care Act 
S. 989 Sponsor:
Sen. Blunt (R-MO)
Co-Sponsors:
6 (1 R; 5 D)
Introduced:
4/28/2017
NASFAA Analysis & Coverage: This measure would add a pediatric subspecialty residency or fellowship training program to the list of eligible health professions for eligibility for the National Health Service Corps. and corresponding loan repayment assistance. 
       
Protection of Social Security Benefits Restoration Act 
S. 959 Sponsor:
Sen. Wyden (D-OR)
Co-Sponsors:
11 (0 R; 11 D; 1 I)
Introduced:
4/27/2017
NASFAA Analysis & Coverage: This bill would prohibit the federal government from seizing Social Security benefits for unpaid federal debts, including student loans. 
       
Access to Frontline Health Care Act 
HR 2042
Sponsor:
Rep. Loebsack (D-IA)
Co-Sponsors:
0 (0 R; 0 D)
Introduced:
4/6/2017
NASFAA Analysis & Coverage: This bill would establish a "Frontline Providers Loan Repayment Program" within the Department of Health and Human Services (HHS) under the Public Health Service Act. The new loan repayment program would allow for repayment assistance for health professionals who commit to two years of service in "frontline scarcity areas." Amount of loan repayment assistance to be determined by the Secretary of Health and Human Services. 
       
Student Security Act
HR 1937
Sponsor:
Rep. Garrett (R-VA)
Co-Sponsors:
2 (2 R; 0 D)
Introduced:
4/5/2017
NASFAA Analysis & Coverage: This bill would provide loan forgiveness "credits" to federal student loan borrowers in exchange for voluntarily delaying receipt of social security benefits. Each credit equals $550 in loan cancellations. The number of credits a borrower elects to receive delays receipt of social security benefits by the equivalent number of months. 
       
Environmental Health Workforce Act
HR 1909
Sponsor:
Rep. Lawrence (D-MI)
Co-Sponsors:
11 (0 R; 11 D)
Introduced:
4/5/2017
NASFAA Analysis & Coverage: This bill would, among other provisions, add full-time "environmental health workers" as a qualifying occupation for the purposes of public service loan forgiveness (PSLF). 
       
Reigniting Opportunity for Innovators Act
S. 848 Sponsor:
Sen. Hassan (D-NH)
Co-Sponsors:
0 (0 R; 0 D)
Introduced:
4/5/2017
NASFAA Analysis & Coverage: This bill aims to encourage entrepreneurship by providing the option for non-interest accruing deferment to qualifying small business start-up founders and employees for up to three years. In addition, if the start-up is located in an "economically distressed" area, founders and employees are eligible for loan cancellation up to $20,000. 
       
College for All Act
S. 806 Sponsor:
Sen. Sanders (I-VT)
Co-Sponsors:
7 (0 R; 7 D)
Introduced:
4/3/2017
HR 1880 Sponsor:
Rep. Pramila (D-WA)
Co-Sponsors:
35 (0 R; 35 D)
Introduced:
4/4/2017
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 from any family making $125,000 or less. The bill would cut interest rates and impose an interest rate cap of 5% for undergraduate borrowers and 8.25% for graduate and parent 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 to 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. 
       
Dynamic Repayment Act
S. 799 Sponsor:
Sen. Warner (D-VA)
Co-Sponsors:
1 (1 R; 0 D)
Introduced:
3/30/2017
NASFAA Analysis & Coverage: The bill would replace current loans, subsidies, deferments, forbearances, and repayment options with a single loan called the Income Dependent Education Assistance (IDEA) Loan, repaid through universal income-driven repayment and employer withholding. 
       
Physical Therapist Workforce and Patient Access Act
S. 619 Sponsor:
Sen. Tester (D-MT)
Co-Sponsors:
2 (1 R; 0 D; 1 I)
Introduced:
3/14/2017
HR 1639 Sponsor:
Rep. Shimkus (R-IL)
Co-Sponsors:
43 (10 R; 33 D)
Introduced:
3/20/2017
NASFAA Analysis & Coverage: This measure would add physical therapy to the list of eligible fields for the National Health Service Corps Loan Repayment Program.
       
VA Health Care Provider Education Debt Relief Act
HR 1506
Sponsor:
Rep. O'Rourke (D-TX)
Co-Sponsors:
3 (1 R; 2 D)
Introduced:
3/10/2017
NASFAA Analysis & Coverage: This bill would increase the maximum amount of education debt eligible for forgiveness for health care professionals employed at the Department of Veterans Affairs through the VA education debt reduction program. 
       
HANG UP Act
S. 564 Sponsor:
Sen. Markey (D-MA)
Co-Sponsors:
1 (1 R; 0 D)
Introduced:
3/8/2017
NASFAA Analysis & Coverage: The Help Americans Never Get Unwanted Phone Calls (HANG UP) Act eliminates a provision allowing the federal government and its contractors to use predictive dialer technology to collect a debt owed to or guaranteed by the United States, which includes federal student loans.
       
NEST Act   
S. 458 Sponsor:
Sen. Tester (D-MT)
Co-Sponsors:
2 (0 R; 2 D)
Introduced:
2/27/2017
HR 2727 Sponsor:
Rep. Ruiz (D-CA)
Co-Sponsors:
0 (0 R; 0 D)
Introduced:
5/25/2017
NASFAA Analysis & Coverage: This bill, the Native Educator Support and Training (NEST) Act, would establish scholarships, loan forgiveness plans, and training programs for educators who commit to teaching in Native American or Bureau of Indian Education (BIE) schools. The bill would create three scholarship programs, including two for Indian students seeking undergraduate or graduate degrees, and one for students seeking undergraduate degrees, for students who commit to teaching in a BIE school for at least three years. The bill expands teacher loan forgiveness for educators who work in a native school for a least 5 years (up to $17,500). The bill also provides grants for institutions of higher education looking to develop training programs for Native American immersion and language teachers.
       
REST Act
S. 457 Sponsor:
Sen. Tester (D-MT)
Co-Sponsors:
2 (0 R; 2 D)
Introduced:
2/27/2017
NASFAA Analysis & Coverage: In addition to providing grants to students who commit to pursue rural education as a career path, this bill, the Rural Educator Support and Training (REST) Act, would expand teacher loan forgiveness for educators who work in a rural school for a least 5 years (up to $17,500).
       
Student Loan Fairness Act 
HR 1127 Sponsor:
Rep. Bass (D-CA)
Co-Sponsors:
2 (0 R; 2 D)
Introduced:
2/16/2017
NASFAA Analysis & Coverage: This bill would create the “10/10 Loan Repayment Plan” that allows borrowers to pay 10 percent of their annual discretionary income and forgives the remaining loan balance after ten years of payment. The bill caps new direct loan interest rates at 3.4 percent and significantly modifies Public Service Loan Forgiveness (PSLF) by reducing the required number of qualifying payments from 120 to 60 and including physicians in "Medically Underserved Areas." The bill also allows certain borrowers with private education loans to consolidate them into a direct consolidation loan. The bill excludes loan forgiveness under income-driven repayment plans from gross income for the purposes of income tax.
       
Young Farmer Success Act
HR 1060 Sponsor:
Rep. Courtney (D-CT)
Co-Sponsors:
7 (3 R; 4 D)
Introduced:
2/7/2017
NASFAA Analysis & Coverage: This bill would qualify full-time employees or managers of a "qualified farm or ranch" for forgiveness benefits under Public Service Loan Forgiveness (PSLF). A "qualified farm or ranch" is defined as a farm or ranch whose gross revenue is equal to or greater than $35,000, indexed annually to inflation. 
       
ASPIRE Act
HR 926 Sponsor:
Rep. Soto (D-FL)
Co-Sponsors:
7 (0 R; 7 D)
Introduced:
2/7/2017
NASFAA Analysis & Coverage: This bill, the American Science Principal and Interest Reduction and Employment Act, would forgive 25% of the loan principal of any Federal Direct Loan for students who graduate with an undergraduate STEM (science, technology, engineering, math) degree or certificate. In addition, parents who borrow on behalf of a dependent student who graduates with an undergraduate STEM degree or certificate are eligible for 25% principal forgiveness on their PLUS loan(s). 
       
Stop Debt Collection Abuse Act 
HR 864 Sponsor:
Rep. Love (R-UT)
Co-Sponsors:
3 (1 R; 2 D)
Introduced:
2/3/2017
NASFAA Analysis & Coverage: This bill amends the Fair Debt Collection Practices Act (FDCPA) to make clear that the protections from overly aggressive debt collection practices also apply to debt collection agents hired by the federal government, including for servicers of federal student loans.
       
Investing in Student Success Act
S. 268 Sponsor:
Sen. Young (R-IN)
Co-Sponsors:
2 (2 R; 0 D)
Introduced:
2/1/2017
NASFAA Analysis & Coverage: This legislation works to establish the legal and tax framework for income-share agreements (ISAs).
       
Terrorism Survivors Student Loan Deferment Act
S. 149 Sponsor:
Sen. Rubio (R-FL)
Co-Sponsors:
0 (0 R; 0 D)
Introduced:
1/17/2017
NASFAA Analysis & Coverage: This bill would allow survivors of terrorist attacks, as determined by the federal agency investigating the attack, to defer loan payments for one year, not counting against the three-year deferment allowance. The bill applies to Direct Loans, Perkins Loans, and FFELP Loans.
 
Encourage our Educators Act
HR 414 Sponsor:
Rep. Lawrence (D-MI)
Co-Sponsors:
1 (0 R; 1 D)
Introduced:
1/10/2017
NASFAA Analysis & Coverage: This measure would allow teachers to qualify for both teacher loan forgiveness and public service loan forgiveness. It increases the teacher loan forgiveness amount from $5,000 to $17,500 and shortens the employment requirement for teacher loan forgiveness from five years to three.

 

114th Session of Congress

 

Stopping Abusive Student Loan Collection Practices in Bankruptcy Act
HR 100 Sponsor:
Rep. Conyers (D-MI, 13)
Co-Sponsors:
2 (0 R; 2 D)
Introduced:
1/6/2015
NASFAA Analysis & Coverage: This bill amends federal bankruptcy law to allow an individual whose student loan debt is discharged due to undue hardship to recover the costs of, and a reasonable attorney's fee for, the discharge proceeding if the court finds that the position of the creditor was not substantially justified.

 

Repay Act
S. 85 Sponsor:
Sen. King (I-ME)
Co-Sponsors:
11 (7 R; 4 D)
Introduced:
1/7/2015
NASFAA Analysis & Coverage: This piece of legislation would streamline Direct Loan repayment plan options for student borrowers. New student borrowers would choose between two repayment plans: a fixed 10-year plan (renamed and otherwise unchanged from the current “standard” plan) or a simplified income-driven repayment (SIDR) plan. Plans available to parent PLUS borrowers and student borrowers who don't qualify as new borrowers would remain unchanged.

 

Financial Aid Simplification and Transparency Act (FAST Act)
S.108 Sponsor:
Sen. Alexander (R-TN)
Co-Sponsors:
11 (7 R; 3 D; 1 I)
Introduced:
1/7/2015
NASFAA Analysis & Coverage: The bill would eliminate the FAFSA in favor of a 2-question postcard, move to a 1 grant/1 loan program, reinstate year-round Pell, provide authority to limit loans, among several other changes.

 

American Indian Teacher Loan Forgiveness Act
HR 386 Sponsor:
Rep. Ruiz (D-CA, 36)
Co-Sponsors:
12 (0 R; 12 D)
Introduced:
1/14/2015
NASFAA Analysis & Coverage: Would provide up to $17,500 of loan forgiveness to borrowers who: (1) are a member of an Indian tribe, and (2) have been employed as a full-time teacher for five consecutive complete school years in an Indian school or in a local educational agency that serves at least 10 Indian students or whose schools have an enrollment of students at least 25% of which are Indians.

 

Discharge Student Loans in Bankruptcy Act
HR 449 Sponsor:
Rep. Delaney (D-MD, 6)
Co-Sponsors:
17 (2 R; 15 D)
Introduced:
1/21/2015
NASFAA Analysis & Coverage: This bill would allow student loans to be discharged in bankruptcy.

 

Student Loan Refinancing Act
HR 649 Sponsor:
Rep. Pocan (D-WI, 2)
Co-Sponsors:
51 (3 R; 48 D)
Introduced:
2/2/2015
NASFAA Analysis & Coverage: This legislation would allow students to refinance Direct Loans at the interest rate at the time of the modification.

 

Eliminating the Hidden Student Loan Tax Act
HR 1285 Sponsor:
Rep. Davis (D-CA, 53)
Co-Sponsors:
0 (0 R; 0 D)
Introduced:
3/4/2015
NASFAA Analysis & Coverage: This bill would eliminate origination fees on all Direct Loans.

 

Student Loan Borrower Bill of Rights
S. 840 Sponsor:
Sen. Durbin (D-IL)
Co-Sponsors:
2 (0 R; 2 D)
Introduced:
3/23/2015
NASFAA Analysis & Coverage: This comprehensive legislation would require lenders to provide information and disclosures at designated points in the repayment process and adds certain servicing standards for both federal and private loans.

 

Fairness in Student Loan Lending Act
HR 1131 Sponsor:
Rep. McDermott (D-WA, 7)
Co-Sponsors:
17 (0 R; 17 D)
Introduced:
2/26/2015
S. 729 Sponsor:
Sen. Durbin (D-IL)
Co-Sponsors:
15 (0 R; 15 D)
Introduced:
3/12/2015
NASFAA Analysis & Coverage: This bill would allow student loan borrowers in good standing to refinance their loans to a rate equal to the 10-year Treasury note on the last day of business of the previous month plus one percent. Furthermore, the bill would allow borrowers to discharge private student loans in bankruptcy.

 

Student Loan Borrowers' Bill of Rights Act
HR 1352 Sponsor:
Rep. Wilson (D-FL, 24)
Co-Sponsors:
0 (0 R; 0 D)
Introduced:
3/10/2015
NASFAA Analysis & Coverage: The bill restores bankruptcy protections for federal and private student loans, establishes a statute of limitations on student loan debt collection, creates new protections against discrimination in professional licensing, and prohibits the garnishment of wages, tax refunds, and Social Security benefits.

 

Bank on Students Emergency Loan Refinancing Act
S. 793 Sponsor:
Rep. Warren (D-MA)
Co-Sponsors:
35 (0 R; 34 D; 1 I)
Introduced:
3/18/2015
HR 1434 Sponsor:
Rep. Courtney (D-CT, 2)
Co-Sponsors:
181 (0 R; 181 D)
Introduced:
3/18/2015
NASFAA Analysis & Coverage: This legislation would allow eligible student loan borrowers to refinance their federal loans to lower interest rates and to refinance private student loans into the federal student loan program. The bill's budgetary offset comes from eliminating certain tax loopholes.

 

Private Student Loan Bankruptcy Fairness Act
HR 1674 Sponsor:
Rep. Cohen (D-TN, 9)
Co-Sponsors:
41 (0 R; 41 D)
Introduced:
3/262015
NASFAA Analysis & Coverage: This bill would allow private student loans to be discharged in bankruptcy.

 

Protecting All College Tuition (PACT) Act
HR 2267 Sponsor:
Rep. Collins (R-NY, 27)
Co-Sponsors:
3 (3 R; 0 D)
Introduced:
5/12/2015
NASFAA Analysis & Coverage: The bill would establish that college tuition payments qualify under the “reasonably equivalent value” bankruptcy standard, exempting tuition payments from bankruptcy practices.

 

College for All Act
S. 1373 Sponsor:
Sen. Sanders (I-VT)
Co-Sponsors:
0 (0 R; 0 D)
Introduced:
5/19/2015
HR 4385 Sponsor:
Rep. Grayson (D-FL, 9)
Co-Sponsors:
2 (0 R; 2 D)
Introduced:
1/13/2016
NASFAA Analysis & Coverage: The comprehensive legislation would create a grant program to states to eliminate tuition at public 4-year colleges and universities. The bill would cut interest rates and impose a cap of 8.25% and allow borrowers to refinance loans at the current interest rates. The bill would also expand Federal Work Study (FWS) and create a pilot program to assess the need to complete the FAFSA annually. The budgetary offset comes from imposing certain taxes and fees on stocks, bonds, and derivatives.

 

Andrew's Law
S. 1384 Sponsor:
Sen. Schumer (D-NY)
Co-Sponsors:
0 (0 R; 0 D)
Introduced:
5/19/2015
NASFAA Analysis & Coverage: The bill would discharge the repayment obligations of the estate of a borrower and any cosigner of a private educational loan if the borrower dies.

 

Young Farmer Success Act
HR 2590 Sponsor:
Rep. Gibson (R-NY, 19)
Co-Sponsors:
13 (2 R; 11 D)
Introduced:
6/1/2015
NASFAA Analysis & Coverage: This bill adds new and beginning farmers to the Public Service Loan Forgiveness (PSLF) program.

 

Adjunct Faculty Loan Fairness Act
S. 1556 Sponsor:
Sen. Durbin (D-IL)
Co-Sponsors:
1 (0 R; 1 D)
Introduced:
6/11/2015
NASFAA Analysis & Coverage: This bill allows part-time adjunct faculty members to qualify for the Public Service Loan Forgiveness (PSLF) program.

 

Teacher Loan Repayment Act (TELORA)
S. 1892 Sponsor:
Sen. Hatch (R-UT)
Co-Sponsors:
2 (1 R; 1 D)
Introduced:
7/29/2015
HR 3359 Sponsor:
Rep. Kilmer (D-WA, 6)
Co-Sponsors:
5 (2 R; 3 D)
Introduced:
7/29/2015
NASFAA Analysis & Coverage: This legislation would eliminate several teacher loan forgiveness programs in favor of a single, to-be-created one. Further, the legislation provides incentives for states to contribute to teacher loan repayment and is limited to teachers working in low-income schools.

 

Teach Our Teachers Act
HR 3366 Sponsor:
Rep. Lawrence (D-MI, 14)
Co-Sponsors:
16 (0 R; 16 D)
Introduced:
7/29/2015
NASFAA Analysis & Coverage: This measure would allow teachers to qualify for both teacher loan forgiveness and public service loan forgiveness and makes several other minor adjustments.

 

Access to Fair Financial Options for Repaying Debt (AFFORD) Act
S. 1948 Sponsor:
Sen. Merkley (D-OR)
Co-Sponsors:
1 (0 R; 1 D)
Introduced:
8/5/2015
NASFAA Analysis & Coverage: This legislation would replace all current Direct Loan repayment plans with two: an income-based repayment (IBR) plan that is modeled on, but differs from, Pay As You Earn (PAYE), and a fixed repayment plan that would provide up to 25 years to repay depending on the amount borrowed.

 

Student Debt Repayment Fairness Act
HR 3450 Sponsor:
Rep. Kildee (D-MI, 5)
Co-Sponsors:
0 (0 R; 0 D)
Introduced:
9/8/2015
HR 6150 Sponsor:
Rep. Kildee (D-MI, 5)
Co-Sponsors:
0 (0 R; 0 D)
Introduced:
9/22/2016
NASFAA Analysis & Coverage: This bill would prohibit private lenders from accelerating loan repayment in the event of death or disability of the loan’s co-signer.

 

Student Loan Bankruptcy Parity Act
HR 3451 Sponsor:
Rep. Kildee (D-MI, 5)
Co-Sponsors:
0 (0 R; 0 D)
Introduced:
9/8/2015
NASFAA Analysis & Coverage: This bill would allow student loans to be discharged in bankruptcy.

 

Private Education Loan Modification Act
S. 2050 Sponsor:
Sen. Heitkamp (D-ND)
Co-Sponsors:
0 (0 R; 0 D)
Introduced:
9/17/2015
NASFAA Analysis & Coverage: This legislation would allow students to refinance private student loans at lower interest rates.

 

Student Loan Debt Protection Act
HR 3634 Sponsor:
Rep. Wilson (D-FL, 24)
Co-Sponsors:
4 (0 R; 4 D)
Introduced:
9/28/2015
NASFAA Analysis & Coverage: This extensive measure would establish student loan borrowers’ rights to basic consumer protections, flexible repayment options, access to earned credentials, and loan cancellation in exchange for public service.

 

Student Loan Relief Act
S. 2099 Sponsor:
Sen. Ayotte (R-NH)
Co-Sponsors:
2 (2 R; 0 D)
Introduced:
9/29/2015
HR 4102 Sponsor:
Rep. Comstock (R-VA, 10)
Co-Sponsors:
1 (1 R; 0 D)
Introduced:
11/19/2015
NASFAA Analysis & Coverage: This bill would allow borrowers to refinance their federal student loans into the private market into federally guaranteed loans. In addition, this legislation creates a new tool to allow employers to help qualified employees repay student loans with pre-tax dollars.

 

Student Borrower Fairness Act
HR 3675 Sponsor:
Rep. DeSaulnier (D-CA, 11)
Co-Sponsors:
6 (0 R; 6 D)
Introduced:
10/1/2015
NASFAA Analysis & Coverage: This bill would allow borrowers to refinance their student loans at the interest rates offered to banks by the Federal Reserve.

  

Earnings Contingent Education Loans (ExCEL) Act
HR 3695 Sponsor:
Rep. Zeldin (R-NY, 1)
Co-Sponsors:
0 (0 R; 0 D)
Introduced:
10/6/2015
NASFAA Analysis & Coverage: This comprehensive bill, which is practically identical to HR 3752, 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.

 

Federal Student Loan Refinancing Act
HR 3751 Sponsor:
Rep. Peters (D-CA, 52)
Co-Sponsors:
12 (0 R; 12 D)
Introduced:
10/9/2015
NASFAA Analysis & Coverage: This measure would automatically refinance interest rates on all federal student loans to four percent.

 

Earnings Contingent Education Loans (ExCEL) Act
HR 3752 Sponsor:
Rep. Polis (D-CO, 2)
Co-Sponsors:
1 (1 R; 0 D)
Introduced:
10/9/2015
NASFAA Analysis & Coverage: This comprehensive bill, which is practically identical to HR 3695, 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.

 

Rural Educator Support and Training (REST) Act
S. 2190 Sponsor:
Sen. Tester (D-MT)
Co-Sponsors:
0 (0 R; 0 D)
Introduced:
10/21/2015
NASFAA Analysis & Coverage: In addition to providing grants to students who commit to pursue rural education as a career path, this bill would provide loan forgiveness up to $17,500 to teachers who teach in rural schools for a minimum of 5 years.

 

Student Loan Fair Prepayment Act
HR 3786 Sponsor:
Rep. Davis (D-CA, 53)
Co-Sponsors:
6 (0 R; 6 D)
Introduced:
10/21/2015
NASFAA Analysis & Coverage: This bill would require extra payments on student loans to apply toward the principal of the loan first before applying to future payments or interest.

 

Recruiting and Retaining Effective School Leaders Act
HR 3925 Sponsor:
Rep. Davis (D-CA, 53)
Co-Sponsors:
0 (0 R; 0 D)
Introduced:
11/4/2015
NASFAA Analysis & Coverage: This bill would establish a Direct Loan forgiveness program for principals who serve in low-income elementary and secondary schools for at least one school year.

 

Help Americans Never Get Unwanted Phone Calls (HANGUP) Act
S. 2235 Sponsor:
Sen. Markey (D-MA)
Co-Sponsors:
19 (1 R; 17 D; 1 I)
Introduced:
11/4/2015
HR 4682 Sponsor:
Rep. Duckworth (D-IL, 18)
Co-Sponsors:
4 (0 R; 4 D)
Introduced:
3/3/2016
NASFAA Analysis & Coverage: The bill eliminates a provision allowing the federal government and its contractors to use predictive dialer technology to collect a debt owed to or guaranteed by the United States, which includes federal student loans.

 

Student Loan Payment Optimization Act
HR 3947 Sponsor:
Rep. Deutch (D-FL, 21)
Co-Sponsors:
3 (0 R; 3 D)
Introduced:
11/5/2015
NASFAA Analysis & Coverage: This measure would require lenders to apply borrower payments that are for more than the required amount to reduce principal.

 

Student Loan Transfers Disclosure Act
HR 3948 Sponsor:
Rep. Deutch (D-FL, 21)
Co-Sponsors:
10 (0 R; 10 D)
Introduced:
11/5/2015
NASFAA Analysis & Coverage: This bill would require servicers to notify borrowers if the loan is transferred to another servicer. The student loan transferors and transferees would be required to provide sufficient notice to the borrower and provide information about the loan transfer.

 

Stop Debt Collection Abuse Act
S. 2255 Sponsor:
Sen. Booker (D-NJ)
Co-Sponsors:
1 (1 R; 0 D)
Introduced:
11/5/2015
HR 5434 Sponsor:
Rep. Love (R-UT, 4)
Co-Sponsors:
3 (1 R; 2 D)
Introduced:
6/9/2016
NASFAA Analysis & Coverage: This bill amends the Fair Debt Collection Practices Act (FDCPA) to make clear that the protections from overly aggressive debt collection practices also apply to debt collection agents hired by the federal government, including for servicers of federal student loans.

 

Physician Assistant Higher Education Modernization Act 
HR 3944 Sponsor:
Rep. Bass (D-CA, 37)
Co-Sponsors:
4 (0 R; 4 D)
Introduced:
11/5/2015
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.

 

Protecting Our Students by Terminating Graduate Rates that Add to Debt (POST GRAD) Act
HR 4223 Sponsor:
Rep. Chu (D-CA, 27)
Co-Sponsors:
48 (0 R; 48 D)
Introduced:
12/10/2015
NASFAA Analysis & Coverage: This bill would again allow graduate and professional students to receive subsidized Stafford loans. The bill would restore eligibility beginning in the 2016-2017 award year.

 

Protection of Social Security Benefits Restoration Act
S. 2387 Sponsor:
Sen. Wyden (D-OR)
Co-Sponsors:
7 (0 R; 7 D)
Introduced:
12/10/2015
HR 4988 Sponsor:
Rep. Murphy (D-FL, 18)
Co-Sponsors:
0 (0 R; 0 D)
Introduced:
4/18/2016
NASFAA Analysis & Coverage: This bill would prohibit the federal government from seizing Social Security benefits for unpaid federal debts, including student loans. 

 

Simple Income-Based Repayment Act
HR 4256 Sponsor:
Rep. Murphy (D-FL, 18)
Co-Sponsors:
0 (0 R; 0 D)
Introduced:
12/15/2015
NASFAA Analysis & Coverage: This piece of legislation would automatically enroll all new borrowers of federal student loans (except Parent PLUS) into Income-Based Repayment (IBR); existing borrowers may opt-in if desired. The bill would require automatic payments through payroll deduction.

 

Dynamic Repayment Act
S. 2456 Sponsor:
Sen. Warner (D-VA)
Co-Sponsors:
1 (1 R; 0 D)
Introduced:
1/20/2016
NASFAA Analysis & Coverage: Introduced again in this session of Congress, the bill would replace current loans, subsidies, deferments, forbearances, and repayment options with a single loan called the Income Dependent Education Assistance (IDEA) Loan and would be repaid through income-based repayment and employer withholding. 

 

Strengthening Forgiveness for Public Servants Act
S. 2463 Sponsor:
Sen. Blumenthal (D-CT)
Co-Sponsors:
1 (0 R; 1 D)
Introduced:
1/21/2016
HR 5899 Sponsor:
Rep. Swalwell (D-CA, 15)
Co-Sponsors:
8 (0 R; 8 D)
Introduced:
7/14/2016
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%.

 

Parent PLUS Loan Improvement Act
HR 4661 Sponsor:
Rep. Fudge (D-OH, 11)
Co-Sponsors:
9 (0 R; 9 D)
Introduced:
3/2/2016
NASFAA Analysis & Coverage: This bill makes several changes to Parent PLUS loans. The legislation would lower interest rates, eliminate the origination fee, require loan entrance counseling, and allow Parent PLUS borrowers to participate in income-contingent and income-based repayment plans. 

 

In the Red Act
S. 2677 Sponsor:
Sen. Tammy Baldwin (D-WI)
Co-Sponsors:
28 (0 R; 28 D)
Introduced:
3/15/2016
NASFAA Analysis & Coverage: The In the Red Act would simply combine some of the higher education legislation introduced in the Senate in 2015 by Democrats - including the America’s College Promise Act, which would make two years of community college and the first two years at HBCUs and MSIs tuition free; the Bank on Students Emergency Loan Refinancing Act, which allows borrowers to refinance their loans; and the Pell Grant Cost of Tuition Adjustment Act, which would increase the Pell Grant maximum award to $9,139, indexed annually to inflation -- into one package. The bill also includes language calling for enhanced accountability for institutions, but does not include legislative language to implement any sort of accountability system.

 

Teacher Debt Relief Act
HR 4933 Sponsor:
Rep. Takano (D-CA, 41)
Co-Sponsors:
4 (1 R; 3 D)
Introduced:
4/13/2016
NASFAA Analysis & Coverage: This bill would allow teachers to qualify for both Stafford loan teacher forgiveness and forgiveness under Public Service Loan Forgiveness (PSLF). Currently, borrowers are not eligible to use the same service toward both programs. 

 

Fairness in Forgiveness Act
HR 5201 Sponsor:
Rep. Swalwell (D-CA, 15)
Co-Sponsors:
13 (0 R; 13 D)
Introduced:
5/11/2016
NASFAA Analysis & Coverage: This bill would expand eligibility for public service loan forgiveness to current and former long-time employees at all 16 privately operated Department of Energy National Laboratories. Eligibility would be retroactive to October 1, 2007. 

 

Student Loan Refinancing and Recalculation Act
HR 5274 Sponsor:
Rep. Garamendi (D-CA, 3)
Co-Sponsors:
30 (1 R; 29 D)
Introduced:
5/18/2016
NASFAA Analysis & Coverage: This bill would allow for refinancing of both Direct Loans and FFELP Loans. The bill would also lower the percentage add-on to the 10-year Treasury bill in the calculation of interest rates to one percent for undergraduate, graduate, and parent borrowers. In addition, the bill would eliminate origination fees. 

 

Student Loan Fairness Act 
HR 5487 Sponsor:
Rep. Bass (D-CA, 37)
Co-Sponsors:
0 (0 R; 0 D)
Introduced:
6/15/2016
NASFAA Analysis & Coverage: This bill would create the “10/10 Loan Repayment Plan” that allows borrowers to pay 10 percent of their annual discretionary income and forgives the remaining loan balance after ten years of payment. The bill caps new direct loan interest rates at 3.4 percent and expands Public Service Loan Forgiveness (PSLF)  to include physicians in Medically Underserved Areas to qualify. The bill also allows certain borrowers with private education loans to consolidate them into a direct consolidation loan. The bill excludes loan forgiveness under Pay As You Earn (PAYE) and Revised Pay As You Earn (REPAYE) repayment plans from gross income for the purposes of income tax.

 

Student Loan Interest Rate Parity Act
HR 5567 Sponsor:
Rep. Salmon (R-AZ, 5)
Co-Sponsors:
1 (0 R; 1 D)
Introduced:
6/22/2016
NASFAA Analysis & Coverage: This bill would require that all Federal Direct Stafford Loans, Federal Direct Unsubsidized Stafford Loans, and Federal Direct PLUS Loans have the same interest rates.

 

Native Education Support and Training (NEST) Act
HR 5700 Sponsor:
Rep. Ruiz (D-CA, 36)
Co-Sponsors:
0 (0 R; 0 D)
Introduced:
7/8/2016
NASFAA Analysis & Coverage: This bill would establish scholarships, loan forgiveness plans, and training programs for educators who commit to teaching in Native American or Bureau of Indian Education (BIE) schools. The bill would create three scholarship programs, including two for Indian students seeking undergraduate or graduate degrees, and one for students seeking undergraduate degrees, for students who commit to teaching in a BIE school for at least three years. To receive loan forgiveness, students must teach for at least five consecutive years. The bill also provides grants for institutions of higher education looking to develop training programs for Native American immersion and language teachers.

 

Streamlining Income-driven, Manageable Payments on Loans for Education (SIMPLE) Act
HR 5962 Sponsor:
Rep. Bonamici (D-OR, 1)
Co-Sponsors:
11 (4 R; 7 D)
Introduced:
9/8/2016
NASFAA Analysis & Coverage: This bill would auto-enroll delinquent borrowers in an income-driven repayment (IDR) plan and automatically recertify income and family size on an annual basis for borrowers already enrolled in IDR plans.

 

Terrorism Survivors Student Loan Deferment Act
S. 3352 Sponsor:
Sen. Rubio (R-FL)
Co-Sponsors:
0 (0 R; 0 D)
Introduced:
9/19/2016
NASFAA Analysis & Coverage: This bill would allow survivors of terrorist attacks, as determined by the federal agency investigating the attack, to defer loan payments for one year, not counting against the three-year deferment allowance. The bill applies to Direct Loans, Perkins Loans, and FFEL Loans. 

 

Supporting America’s Young Entrepreneurs Act
HR 6197 Sponsor:
Rep. Velazquez (D-NY, 7)
Co-Sponsors:
3 (0 R; 3 D)
Introduced:
9/28/2016
NASFAA Analysis & Coverage: This comprehensive bill would allow "founders of small business start-ups" to defer loan payments without interest accruing for up to three years. In addition, after 24 monthly payments, founders of small business start-ups in a "distressed area" can receive $20,000 in forgiveness on their balance.  Employees of a small business start-up would be eligible for $3,000 in forgiveness after 12 monthly payments with an aggregate forgiveness limit of $15,000. Forgiveness under both sections would be tax-exempt. Employees, employers, and distressed areas would be defined and certified by a to-be-created "Young Entrepreneurs Business Center." The bill also creates a "Federal Direct Refinanced Private Loan Program" where any borrower, not only small business employees, can refinance private loans through the federal government with an interest rate of 3.76%. 

 

Public Service Loan Forgiveness Inclusion Act
HR 6205 Sponsor:
Rep. Foster (D-IL, 11)
Co-Sponsors:
4 (0 R; 4 D)
Introduced:
9/28/2016
NASFAA Analysis & Coverage: The bill would allow previously ineligible repayment plan payments to become eligible as a "qualifying payment" for the purpose of Public Service Loan Forgiveness (PSLF) if a borrower transfers to an eligible repayment plan within five years (first 60 payments) of entering full time employment. Currently ineligible repayment plans for PSLF include the graduated and extended plans.

  

Making College More Affordable Act
HR 6231 Sponsor:
Rep. Cicilline (D-RI, 1)
Co-Sponsors:
10 (0 R; 10 D)
Introduced:
9/28/2016
NASFAA Analysis & Coverage: This bill would eliminate undergraduate eligibility for Federal Direct Stafford Loans and instead create the "Federal Interest Free Education Loan," where borrowers would repay their loan through mandated automatic deductions from pre-tax income. The loan would have an aggregate limit of $90,000 over four years only. Borrowers would repay this loan based on a percentage of their income over the course of 30 years, starting at 4% for those borrowers earning less than $100,000 and increasing progressively with a cap at 10% for borrowers making over $150,000. No payment would be due if a borrower's income is below roughly 336.7% of the federal poverty line (currently $40,000 for an individual). In addition, no interest accrues on the loan unless "a borrower is not earning taxable income due to professional negligence, professional incompetence, or malicious action on the part of the borrower." All remaining loan balance would be canceled after 300 monthly payments (25 years). 

 

Helping Improve Grants for Higher Education & Repayment of Expensive Debt (HIGHER ED) Act
HR 6239 Sponsor:
Rep. DeFazio (D-OR, 4)
Co-Sponsors:
0 (0 R; 0 D)
Introduced:
9/28/2016
NASFAA Analysis & Coverage: The bill would restore graduate and professional student eligibility for subsidized loans and expand Public Service Loan Forgiveness (PSLF) eligibly to adjunct faculty members. In addition, borrowers would be able to discharge federal student loans in bankruptcy and refinance both federal and private loans at current interest rates. This bill would also increase the maximum Pell Grant award to $9,410, indexed annually for inflation, and would restore year-round Pell, while allowing institutions to assign crossover periods and without an acceleration component.

 

Relief and Investment for Student Entrepreneurs (RISE) Act
HR 6250 Sponsor:
Rep. Gallego (D-AZ, 7)
Co-Sponsors:
1 (0 R; 1 D)
Introduced:
9/28/2016
NASFAA Analysis & Coverage: The bill offers a three-year interest-free deferment period for federal student loans to "qualified entrepreneurs." The bill also allows entrepreneurs who start businesses in Historically Underutilized Business Zones (HUBZones) to receive up to $17,500 in Direct Loan forgiveness.

 

Student Borrower Higher Education Lending Protection (HELP) Act
HR 6446 Sponsor:
Rep. Pallone (D-NJ, 6)
Co-Sponsors:
5 (0 R; 5 D)
Introduced:
12/06/2016
NASFAA Analysis & Coverage: This bill includes three provisions relating to private lending. The bill would require total loan forgiveness for a borrower with a permanent disability or for a family member who is a cosigner of a loan taken out by a student who later dies. In addition, the bill requires deferment of loan payments for borrowers with a temporary disability. Finally, the bill requires private lenders to disclose their default rates on loan documents. 

  

Return to Legislative Tracker Archive

Publication Date: 2/23/2021


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