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 be given 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 origination costs 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 that have currently invested as much as a decade toward making 120 on-time payments but was unaware that the 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 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 will allow any debtor of Federal Direct Loans including Subsidized, Unsubsidized and PLUS loans, to refinance their federal loan interest to regardless of the award year interest rate that is current. A debtor might have the attention price refinanced whenever you want through the lifetime of loan without any limitation, other than a 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 research & Coverage: The balance tackles a few dilemmas associated to education loan affordability, complexity, and customer information. The bill would end federal loan origination costs and also the training of great interest capitalization in addition to lessen the amount of payment intends to two: an income-based payment plan, which will now be around to Parent PLUS borrowers, and a set plan that is 10-year. The Affordable Loans for Any scholar Act would additionally simplify the method to sign up in a choice of payment plan.
H.R. 1707 – Bank on Students Emergency Loan Refinancing
Sponsor: Rep. Courtney (D-CT)
Co-Sponsors: 67 (0 R; 67 D)
Sponsor: Sen. Warren (D-MA)
Co-Sponsors: 34 (1 I, 33 D)
NASFAA Analysis & Coverage: This bill will allow borrowers whom meet an income requirement with Federal Direct Loans, including Parent PLUS and Consolidation Loans, along with borrowers with FFEL Program Loans to refinance their present loan balances underneath the interest relevant for their loan enter 2016-2017. The newest rate that is refinanced be fixed for all of those other life associated with loan(s) and will never lengthen the payment period of time of this 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 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 allow for an also enhance regarding the education loan interest deduction for taxation filing purposes.
H.R. 1685 – Physician Assistant Degree Modernization Act
Sponsor: Rep. Bass (D-CA)
Co-Sponsors: 0 (0 R; 0 D)
NASFAA review & Coverage: This bill would raise the loan that is unsubsidized for graduate pupils in doctor assistant (PA) programs, authorize loan forgiveness programs for PAs whom provide in aspects of nationwide need, develop a course to grow 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 College Act of 2019
Sponsor: Rep. Pocan (D-WI)
Co-Sponsors: 32 (0 R; 32 D)
Sponsor: Sen. Schatz (D-HI)
Co-Sponsors: 9 (0 R; 9 D)
NASFAA research & Coverage: This bill would produce a State-Federal partnership system that is designed to supply a college experience that is debt-free. This system would produce a consignment to pay for staying unmet need that is financial qualified pupils. To qualify pupils will have to be enrolled at an institution that is eligible their https://speedyloan.net/reviews/cashcall state they reside, complete the FAFSA and fulfill SAP requirements. This bill would authorize $84 billion to generate 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 will allow borrowers in a medical or dental residency program to really have the interest and re payments to their figuratively speaking deferred.
H.R. 1043 – Employer Participation in Repayment Act of 2019
Sponsor: Rep. Peters (D-CA)
Co-Sponsors: 114 (34 R; 80 D)
NASFAA research & Coverage: This bill would expand employer-provided academic assistance programs to incorporate employer-provided education loan payment help. The bill will allow companies to provide as much as $5,250 per 12 months in education loan payment assist with their workers. This amount could be excluded through the employee’s taxable income.
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 will allow personal figuratively speaking to be released in bankruptcy.