H.R. 3095 – Know Your Repayment Alternatives Act
Sponsor: Rep. Swalwell, Eric D-CA
Cosponsors: 5 (0 R; 5 D)
NASFAA review & Coverage: This bill would require that all student borrower 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 eradicate origination charges on figuratively speaking.
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 payment plan by which they enrolled wasn’t 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 research & 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 allows any debtor of Federal Direct Loans including Subsidized, Unsubsidized and PLUS loans, to refinance their federal loan rate of interest to regardless of the current honor 12 months interest. A debtor may have the attention price refinanced whenever you want through the life of loan without any limitation, other than a loan can just only be refinanced when every half a year.
H.R. 2065 – Affordable Loans for just about any Scholar Act
Sponsor: Rep. DeLauro, Rosa L. (D-CT)
Cosponsors: 0 (0 R; 0 D)
Sponsor: Sen. Merkley, Jeff (D-OR)
Cosponsors: 9 (0 R; 9 D)
NASFAA research & Coverage: The 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 lessen the wide range of payment intends to two: an income-based payment plan, which will now be accessible to Parent PLUS borrowers, and a set plan that is 10-year. The Affordable Loans for Any Student Act would additionally simplify the procedure to sign up either in payment plan.
H.R. 1707 – Bank on Students Emergency Loan Refinancing
Sponsor: Rep. Courtney (D-CT)
Co-Sponsors: 67 (0 R; 67 D)
Sponsor: Sen. Warren (D-MA)
Co-Sponsors: 34 (1 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 underneath the interest relevant with their loan key in 2016-2017. This new refinanced price would be fixed for all of those other life associated with the loan(s) and will never lengthen the payment time period associated with loan. The balance 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 grace that is current period of time for education loan borrowers. For several Federal Direct Loan programs, the elegance duration is extended from a few months to one year and interest will never accrue for the brand new 12-month duration also. The bill would allow for an also increase for the education loan interest deduction for taxation filing purposes.
H.R. 1685 – Physician Assistant Higher Education Modernization Act
Sponsor: Rep. Bass (D-CA)
Co-Sponsors: 0 (0 R; 0 D)
NASFAA research & Coverage: This bill would boost the loan that is unsubsidized for graduate students in doctor assistant (PA) programs, authorize loan forgiveness programs for PAs whom provide in regions of national need, develop an application to grow PA education programs at rural organizations, make Historically Ebony Colleges & Universities eligible to receive extra funds and present give preference to programs at Hispanic Serving Institutions, while increasing grant funding possibilities for PA faculty development and technology at PA programs.
H.R. 1571 – Debt-Free university Act of 2019
Sponsor: Rep. Pocan (D-WI)
Co-Sponsors: 32 (0 R; 32 D)
Sponsor: Sen. Schatz (D-HI)
Co-Sponsors: 9 (0 R; 9 D)
NASFAA research & Coverage: This bill would produce a State-Federal partnership system that aims to give a debt-free university experience. This system would produce a consignment to pay for staying unmet economic importance of qualified pupils. To meet the requirements pupils will have to be enrolled at an institution that is eligible their state they live, complete the FAFSA and satisfy SAP needs. This bill would authorize $84 billion to produce the partnership system. In addition, the Debt-Free College Act would offer complete Title IV eligibility for Dreamer students and repeal the suspension system of Title IV 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 review & Coverage: The REDI Act will allow borrowers in a medical or dental residency system to truly have the interest and re payments on the student education loans deferred.
H.R. 1043 – Employer Participation in Repayment Act of 2019
Sponsor: Rep. Peters (D-CA)
Co-Sponsors: 114 (34 R; 80 D)
NASFAA research & Coverage: This bill would expand employer-provided academic assistance programs to incorporate employer-provided student loan payment support. The bill will allow companies to supply up to $5,250 per 12 months in education loan payment assist with their staff. This quantity will be excluded www.speedyloan.net/reviews/cashcall through the employee’s income that is taxable.
H.R. 885 – Private Education Loan Bankruptcy Fairness Act
Sponsor: Rep. Cohen (D-TN)
Co-Sponsors: 13 (0 R; 13 D)
NASFAA review & Coverage: This bill would allow student that is private to be released in bankruptcy.