With this web web page, you will find proposals to enhance or alter the procedure in which pupils borrow and repay their loans.
For education loan and payment proposals through the past sessions of Congress, go to the Legislative Tracker Archive: Loans & Repayment.
*NEW* S. 3055 – Pupil Loan Repayment Freedom Act
Sponsor: Sen. Murkowski R-AKCosponsors: 2 (1D; 1R)Introduced: 12/16/2019NASFAA Overview & review: This bill would allow an educatonal loan debtor to go out of their income-based payment plan and repay under every other loan payment policy for that they meet the criteria.
*NEW* H.R. 5287 — Fair Education Loan Debt Collection Techniques Act
Sponsor: Rep. Lawson D-FLCosponsors: 0Introduced: 12/03/2019NASFAA Summary & research: This bill would prohibit gathering from a debtor during any time frame that an identical debtor wouldn’t be expected to produce a re re payment under a plan that is income-driven. Collectors would additionally be forbidden from gathering from the debtor a sum this is certainly a lot more than a comparable debtor would have compensated in a single thirty days under an IDR plan. Continue reading