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