H additional info.R. 3095 – Understand Your Repayment Options Act
Sponsor: Rep. Swalwell, Eric D-CA
Cosponsors: 5 (0 R; 5 D)
NASFAA review & Coverage: This bill would need that each and every pupil debtor get an individualized payment guide.
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 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 bill seeks to increase PSLF eligibility to borrowers who possess currently invested as much as a decade toward making 120 on-time repayments but might have been unaware that the re re payment plan by 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 Program (VMLRP) awards from withholding taxes.
H.R. 2186 – Student Loan Refinancing Act
Sponsor: Rep. Pocan (D-WI)
Cosponsors: 30 (0 R; 29 D)
NASFAA review & Coverage: The scholar Loan Refinancing Act allows any debtor of Federal Direct Loans including Subsidized, Unsubsidized and PLUS loans, to refinance their federal loan interest to regardless of the current prize 12 months interest. A debtor might have the attention price refinanced whenever you want throughout the lifetime of loan without any limitation, other than a loan can simply be refinanced as soon as every 6 months.
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 review & Coverage: The balance tackles issues that are several to education loan affordability, complexity, and customer information. The balance would end federal loan origination costs as well as the practice of great interest capitalization along with decrease the amount of payment intends to two: an income-based payment plan, which may now be accessible to Parent PLUS borrowers, and a set 10-year plan. 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 allows 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 current loan balances beneath the rate of interest relevant for their loan key in 2016-2017. This new 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 associated with loan. The bill would additionally enable qualified borrowers to refinance personal loans with 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 extend the current elegance duration period of time for education loan borrowers. For several Federal Direct Loan programs, the elegance duration will be extended from a few months to year and interest wouldn’t normally accrue when it comes to brand new 12-month period aswell. The bill would also provide for an increase of this 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 research & Coverage: This bill would boost the unsubsidized loan limitation for graduate pupils in doctor assistant (PA) programs, authorize loan forgiveness programs for PAs whom provide in aspects of national need, develop a course to enhance PA education programs at rural organizations, make Historically Ebony Colleges & Universities eligible to get additional grants 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 is designed to supply a college experience that is debt-free. The program would create a consignment to pay for staying unmet need that is financial eligible pupils. To meet the requirements pupils would have to be enrolled at a eligible institution in their state they reside, complete the FAFSA and satisfy SAP needs. 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 residency that is dental to truly have the interest and re 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 support. The balance will allow companies to supply as much as $5,250 per in student loan repayment assistance to their employees year. This quantity will 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 research & Coverage: This bill will allow student that is private to be released in bankruptcy.