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 need that 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 review & Coverage: This bill would eradicate 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 Analysis & Coverage: The bill seeks to give PSLF eligibility to borrowers that have currently spent as much as a decade toward making 120 on-time repayments but might have been unaware that the 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 will allow 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 https://speedyloan.net/reviews/moneykey honor 12 months interest. A debtor might have the attention price refinanced whenever you want throughout the life of loan without any limitation, other than that loan can only just 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 Analysis & Coverage: The balance tackles issues that are several to education loan affordability, complexity, and customer information. The balance would end federal loan origination charges as well as the training of great interest capitalization along with lower the range payment plans to two: an income-based repayment plan, which will now be available to Parent PLUS borrowers, and a set 10-year plan. The Affordable Loans for Any scholar Act would additionally simplify the method 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, along with borrowers with FFEL Program Loans to refinance their present loan balances beneath the rate of interest relevant with their loan key in 2016-2017. The brand new rate that is refinanced be fixed for the rest of the lifetime associated with the loan(s) and will never lengthen the payment period of time associated with 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 research & Coverage: This bill would expand the current 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 balance would allow for an also enhance associated with 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 present grant 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 develop a State-Federal partnership program that is designed to supply a debt-free university experience. This program would produce a consignment to pay for staying unmet monetary requirement for qualified pupils. To qualify 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 generate the partnership system. In addition, the Debt-Free College Act would offer Title that is full IV 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 would 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 add student loan repayment assistance that is employer-provided. The balance will allow companies to supply up to $5,250 per year in student loan repayment assist with their staff. This quantity could be excluded 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 will allow student that is private to be released in bankruptcy.