More than 80 student loan forgiveness bills and other student loan legislation was introduced during the 116th session of Congress (2019-2020), but only 2 bills were enacted. Four-fifths (80%) of the bills were introduced in the House and 20% in the Senate. More than a third of the student loan bills concerned student loan forgiveness.
A quarter of the bills had bipartisan support. Yet, even with bipartisan support, it is difficult for legislation to reach the floor of the House or Senate for a vote. For example, bills to eliminate origination fees on federal student loans were introduced with bipartisan support in the House and Senate, but were never reported out of committee.
Sessions of Congress last for two calendar years. At the end of a session, any legislation that has not been enacted into law will expire and will need to be reintroduced in the next session to be considered.
Only about 2% of student loan bills introduced in the 116th session of Congress were passed by both ... [+]
Legislation that Passed Both the House and Senate
Consolidated Appropriations Act, 2021 (H.R. 133). This bipartisan bill has passed the House and Senate and awaits the President’s signature. The President has threatened to veto it, but it was passed with a veto-proof majority of 92-6 in the Senate and 359-63 in the House. In addition to providing a COVID-19 relief package, the legislation extends the tax-free status of employer-paid student loan repayment assistance programs by five years, until December 31, 2025.
Coronavirus Aid, Relief, and Economic Security Act (CARES Act) (H.R. 748). Introduced by Rep. Joe Courtney (D-CT-2) on 1/24/2019, this bipartisan bill became Public Law 116-136 on 3/27/2020. The legislation provides a student loan payment pause and interest waiver through September 30, 2020 on federal education loans that are held by the U.S. Department of Education. The legislation also provides temporary tax-free status for employer-paid student loan repayment assistance programs (LRAPS), waives the non-federal share in campus-based federal student aid programs and provides emergency financial aid grants to college students. During the payment pause and interest waiver, suspended loan payments count as payments toward Public Service Loan Forgiveness, income-driven repayment plans and loan rehabilitation. All collection activities on defaulted federal education loans were also suspended.
Legislation that Passed One Chamber of Congress
Comprehensive CREDIT Act of 2020 (H.R. 3621). Introduced by Rep. Ayanna Pressley (D-MA-7) on 7/5/2019, this bill passed the House on 1/29/2020. This bill provides a rehabilitation option for defaulted private student loan borrowers after they make nine on-time monthly payments. Rehabilitation removes derogatory events from the borrower’s credit history and restores the loan to a non-default status.
Introduced Legislation that Was Not Reported Out of Committee
Pandemic Accommodation to Support Students Act (PASS) Act (H.R. 8820). Introduced by Rep. Lauren Underwood (D-IL-14) with 82 cosponsors on 11/24/2020, this bill amends section 3513 of the CARES Act to extend the payment pause and interest waiver through September 30, 2021.
Student Loan Relief Act (H.R. 8514). Introduced by Rep. Vicente Gonzalez (D-TX-15) with no cosponsors on 10/2/2020, this bill provides up to $25,000 in tax-free student loan forgiveness per borrower. The loans with the highest interest rates would be forgiven first.
Parent PLUS Loan Fairness and Responsibility Act (H.R. 8400). Introduced by Rep. Bill Foster (D-IL-11) with no cosponsors on 9/25/2020, this bill allows parents to transfer their Parent PLUS loans to the student on whose behalf the loan was borrowed. The student must be able to repay the debt and must agree to the transfer. Ability to repay the debt will be based on the student’s employment status, income level, credit history and the student’s debt-to-income ratio before and after the transfer.
Frontline Healthcare Worker Student Loan Assistance Act of 2020 (H.R. 8393). Introduced by Rep. Jefferson Van Drew (R-NJ-2) with no cosponsors on 9/24/2020, this bill provides student loan forgiveness for borrowers who are frontline health care workers during the COVID-19 pandemic. Both federal and private student loans would be eligible for forgiveness.
Protecting Access to Loan Forgiveness for Public Servants During the COVID–19 Pandemic Act (H.R. 7761). Introduced by Rep. Eric Swalwell (D-CA-15) on 7/23/2020 with 37 cosponsors, this bipartisan bill preserves eligibility for public service loan forgiveness for borrowers who lose their qualifying public service job during the COVID-19 pandemic. These borrowers will be counted as having made qualifying payments during the pandemic even if they lose their jobs, provided that they return to qualifying public service employment within six months after the end of the public health emergency.
Student Loan Repayment and FAFSA Simplification Act (S. 4247). Introduced by Sen. Lamar Alexander (R-TN) on 7/21/2020 with no cosponsors on 7/21/2020, this bill replaces all existing student loan repayment plans into two repayment plans, a standard 10-year repayment plan and a new income-driven repayment plan. Existing borrowers would be grandfathered in. The legislation also simplifies the Free Application for Federal Student Aid (FAFSA). A version of the FAFSA simplification proposal was incorporated into the Consolidated Appropriations Act, 2021, which passed the House and Senate.
Bank on Students Coronavirus Emergency Loan Refinancing Act of 2020 (H.R. 7449 and S. 4141). Introduced by Sen. Elizabeth Warren (D-MA) in the Senate with 35 cosponsors on 7/1/2020 and Rep. Joe Courtney (D-CT-2) in the House with 37 cosponsors on 7/1/2020, this bipartisan bill allows federal and private student loan borrowers to refinance their student loans at the interest rates offered on federal education loans in the 2020-2021 academic year. The refinancing will be automatic for Direct Loan borrowers.
COVID-19 Perkins Loan Relief Act (H.R. 7294). Introduced by Rep. Katie Porter (D-CA-45) with 4 cosponsors on 6/22/2020, this bipartisan bill implements a payment pause and interest waiver on Federal Perkins Loans during the COVID-19 pandemic through September 30, 2020. It addresses an oversight in the CARES Act legislation that did not include the Federal Perkins Loan within the scope of the payment pause and interest waiver.
Economic and Student Loan Debt Relief Act of 2020 (H.R. 7114). Introduced by Rep. Steve Stivers (R-OH-15) with 2 cosponsors on 6/4/2020, this bill extends the payment pause and interest waiver through December 31, 2020 and makes permanent the tax-free status of employer-paid student loan repayment assistance programs (LRAPs).
Strengthening Loan Forgiveness for Public Servants During the COVID-19 Crisis (S. 3760). Introduced by Sen. Richard Blumenthal (D-CT) with 9 cosponsors on 5/19/2020, this bill changes public service loan forgiveness from a back-end loan forgiveness program to an up-front loan forgiveness program, forgiving a portion of the borrower’s debt every two years.
Stopping Doctor Shortages Act (S. 3746). Introduced by Sen. Dianne Feinstein (D-CA) with 2 cosponsors on 5/14/2020, this bipartisan bill adds health care practitioners to the list of qualifying jobs for public service loan forgiveness.
Teacher Loan Forgiveness Improvement Act of 2020 (H.R. 6825). Introduced by Rep. Elaine G. Luria (D-VA-2) with 3 cosponsors on 5/12/2020, this bill increases the amount of loan forgiveness for teachers from $17,500 to $30,000 for STEM and special education teachers and from $5,000 to $15,000 for other teachers.
Student Loan Forgiveness for Frontline Health Workers Act (H.R. 6720). Introduced by Rep. Carolyn B. Maloney (D-NY-12) with 40 cosponsors on 5/5/2020, this bill bipartisan provides student loan forgiveness for health care workers who work on the front line in response to the COVID-19 pandemic. Federal and private student loans will be eligible for loan forgiveness
Equity in Student Loan Relief Act (H.R. 6597). Introduced by Rep. Elise M. Stefanik (R-NY) with 29 cosponsors on 4/22/2020, this bipartisan bill extends the payment pause and interest waiver from the CARES Act to all borrowers with FFELP loans, including those with FFELP loans not held by the U.S. Department of Education.
COVID-19 Graduate Relief Act (H.R. 6502 and S. 3556). Introduced by Rep. Josh Harder (D-CA-10) with 13 cosponsors in the House on 4/14/2020 and Sen. Mitt Romney (R-UT) in the Senate on 3/20/2020, this bipartisan bill provides a three-year deferment after the end of the COVID-19 pandemic for borrowers who graduate in 2020.
Coronavirus Emergency Student Loan Refinancing Act (H.R. 6397). Introduced by Rep. Joe Courtney (D-CT-2) with 60 cosponsors on 3/26/2020, this bill allows refinancing of federal education loans and private student loans that were disbursed before July 1, 2020 into a new federal education loan with lower interest rates.
Emergency Relief for Student Borrowers Act of 2020 (H.R. 6316). Introduced by Rep. Madeleine Dean (D-PA-4) with 6 cosponsors on 3/23/2020, this bill requires the federal government to make the monthly loan payments on federal and private student loans during the COVID-19 pandemic and for 6 months afterward, with payments counting toward Public Service Loan Forgiveness and rehabilitation of defaulted loans.
Student Debt Emergency Relief Act (H.R. 6363). Introduced by Rep. Ayanna Pressley (D-MA-7) with 23 cosponsors on 3/23/2020, this bill proposes a payment pause and interest waiver for all federal student loans, including Direct Loans, FFEL Program Loans and Federal Perkins Loans, with payments made by the U.S. Department of Education, followed by forgiveness of up to $30,000 in student loan debt per borrower.
Public Service Loan Forgiveness Protection Act (S. 3543). Introduced by Re. Jon Tester (D-MT) on 3/19/2020, this bill waives the requirement that borrowers make payments for the purpose of Public Service Loan Forgiveness during a qualifying emergency in the borrower’s state.
Supporting Students in Response to Coronavirus Act (H.R. 6275 and S. 3489). Introduced in the House by Rep. Bobby Scott (D-VA-3) with 28 cosponsors on 3/13/2020 and in the Senate by Sen. Patty Murray (D-WA) with 18 cosponsors on 3/12/2020, this bill contains several higher education provisions that were subsequently incorporated into the CARES Act, such as emergency financial aid grants to students and waivers of certain requirements for Title IV federal student aid.
PSLF Administrative Improvements Act (H.R. 6230). Introduced by Rep. Brendan F. Boyle (D-PA-2) with 1 cosponsor on 3/12/2020, this bipartisan bill requires the U.S. Department of Education to provide a public database of qualifying employers for the Public Service Loan Forgiveness (PSLF) program. The U.S. Department of Education has incorporated these ideas into the PSLF Help Tool.
Simplifying Access to Student Loan Information Act of 2020 (S. 3243). Introduced by Sen. Jeanne Shaheen (D-NH) on 1/28/2020, this bill requires private student loans to be included in the National Student Loan Data System (NSLDS). This would let borrowers find information about their federal and private student loans in one location. It would also make it easier for the National Center for Education Statistics to analyze data concerning private student loans.
Student Loan Repayment Freedom Act (S. 3055). Introduced by Sen. Lisa Murkowski (R-AK) with 3 cosponsors on 12/16/2019, this bipartisan bill lets borrowers switch from income-driven repayment plans to other repayment plans.
Fair Student Loan Debt Collection Practices Act (H.R. 5287). Introduced by Rep. Al Lawson Jr. (D-FL-5) with 1 cosponsor on 12/3/2019, this bill bans debt collectors from collecting more than a borrower would have paid under an income-driven repayment plan. Debt collectors would also have to confirm that the borrower was not eligible for any debt discharges.
Student Loan Default Reduction Program Act (H.R. 4869). Introduced by Rep. Kendra S. Horn (D-OK), this bill removes all derogatory events relating to a default from the credit history of a defaulted borrower whose defaulted loans have been rehabilitated.
Student Loan Relief Act of 2019 (H.R. 4749). Introduced by Re. Lacy Clay (D-MO-1) on 10/18/2019, this bill allows federal student loans that were made in the last 20 years to be refinanced to the current interest rates.
Simplifying Student Loans Act (H.R. 4670). Introduced by Rep. Susan Wild (D-PA-7) with 3 cosponsors on 10/11/2019, this bill replaces the current repayment plan options with just two repayment plans, a level repayment plan and an income-driven repayment plan. The repayment term would be 10 years for borrowers owing $20,000 or less, 15 years for $20,000 to $30,000, 20 years for $30,000 to $40,000 and 25 years for $40,000 or more.
Empowering Student Borrowers Act (H.R. 4658). Introduced by Rep. Stephanie N. Murphy (D-FL-7) on 10/11/2019, this bill makes it easier for borrowers to enroll in an income-driven repayment plan.
Teacher Debt Relief Act (H.R. 4647). Introduced by Rep. Jahana Hayes (D-CT-5) with 2 cosponsors on 10/11/2019, this bill allows teachers to qualify for Teacher Loan Forgiveness and Public Service Loan Forgiveness concurrently.
Public Service Loan Forgiveness Inclusion Act of 2019 (H.R. 4645). Introduced by Rep. Bill Foster (D-IL-11) with 6 cosponsors on 10/11/2019, this bipartisan bill lets payments in ineligible repayment plans (e.g., graduated repayment and extended repayment) to become qualifying payments in Public Service Loan Forgiveness (PSLF) if the borrower switches to an eligible repayment plan within the first five years of starting full-time employment in a qualifying job.
Student Borrower Advocate Act (H.R. 4627). Introduced by Rep. Mary Gay Scanlon (D-PA-5) with 1 cosponsor on 10/8/2019, this bill creates an Office of the Borrower Advocate within the U.S. Department of Education. The FSA Ombudsman already functions in this capacity. A similar bill, the Student Loan Advocacy Act (H.R. 4596) was introduced by Rep. Ilhan Omar (D-MN-5) with Rep. Scanlon as a cosponsor on 10/1/2019.
Untitled Amendment to the Higher Education Act of 1965 (H.R. 4607). Introduced by Rep. Josh Harder (D-CA-10) with 14 cosponsors on 10/4/2019, this bipartisan bill would add health care workers as qualifying employment for Public Service Loan Forgiveness (PSLF).
End Capitalization for Struggling Borrowers Act (H.R. 4590). Introduced by Rep. Danny K. Davis (D-IL-7) with 2 cosponsors on 10/1/2019, this bill ends the capitalization of interest after certain deferment and forbearance periods.
Giving Relief And Dollars to Undergraduates for Adequate Time for Education Act (H.R. 4502). Introduced by Rep. Sean Casten (D-IL-6) with 4 cosponsors on 9/26/2019, this bill repeals SULA, which establishes a 150% time-frame limitation on subsidized Federal Direct Stafford Loans. A similar provision was incorporated into the Consolidated Appropriations Act, 2021.
Promoting Apprenticeships in Public Service Act (H.R. 4517). Introduced by Rep. David Cicilline (D-RI-1) with 3 cosponsors on 9/26/2019, this bill creates a student loan forgiveness program for borrowers who receive a certificate from a registered apprenticeship program and work full-time for two years in a qualifying public service job.
Clean Slated Through Consolidation Act (H.R. 4395 and H.R. 4396). Introduced by Rep. Haley M. Stevens (D-MI-11) and Rep. Debbie Mucarsel-Powell (D-FL-26) on 9/19/2019, this bill removes the default from the credit history of borrowers who rehabilitate their defaulted federal student loans through consolidation. Currently, the default is removed only from the credit history of borrowers who rehabilitate by making 9 out of 10 consecutive on-time monthly loan payments. Each cosponsored the other’s bill. One bill addresses loans in the Direct Loan program and the other addresses loans in the FFEL program.
Adjunct Faculty Loan Fairness Act of 2019 (S. 2523). Introduced by Sen. Richard J. Durbin (D-IL) with 3 cosponsors on 9/19/2019, this bill allows part-time (adjunct) faculty to qualify for Public Service Loan Forgiveness (PSLF).
Public Service Loan Forgiveness Modernization Act (H.R. 4391). Introduced by Rep. Jimmy Panetta (D-CA-20) with 12 cosponsors on 9/18/2019, this bill creates a searchable database of qualifying employers for Public Service Loan Forgiveness (PSLF) and requires the U.S. Department of Education to send an annual statement to borrowers who are pursuing PSLF. The statement must list the number of qualifying payments made and the number of payments remaining.
Public Service Expansion Act (H.R. 4310). Introduced by Rep. Brendan F. Boyle (D-PA-2) on 9/12/2019, this bill specifies that any position at a non-profit organization is a qualifying public service job for Public Service Loan Forgiveness (PSLF).
Student Loan Deferment Act (H.R. 4119). Introduced by Rep. Al Lawson Jr. (D-FL-5) with 4 cosponsors on 7/30/2019, this bill increases the grace period before federal student loans enter repayment from 6 months to one year.
Public Service Pays Off Act (H.R. 4113). Introduced by Rep. Kendra S. Horn (D-OK-5) with 2 cosponsors on 7/30/2019, this bill switches Public Service Loan Forgiveness from a back-end loan forgiveness program to an up-front loan forgiveness program, with a portion of the loan balance being forgiven every two years.
ExCEL Act of 2019 (H.R. 4079). Introduced by Rep. Lee M. Zeldin (R-NY-1) on 7/25/2019, this bill replaces the Direct Loan program with an Income Dependent Education Assistance (IDEA) loan program. The new loan program would require all borrowers to be in an income-driven repayment plan with automatic wage withholding of loan payments. This bill would eliminate subsidized Federal Stafford loans and the Parent PLUS loan program, and the new IDEA loans would be ineligible for Public Service Loan Forgiveness (PSLF). The loan payments would be 15% of discretionary income, defined as the amount by which total income exceeds 150% of the poverty line. Since total income includes unearned income in addition to earned income, automated withholding would be administratively difficult to implement.
Consider Teachers Act (H.R. 3926). Introduced by Rep. Peter J. Visclosky (D-IN-1) on 7/23/2019, this bill fixes problems with the TEACH Grant program that caused some TEACH Grants to be retroactively turned into loans.
Student Loan Debt Relief Act of 2019 (H.R. 3887). Introduced by Rep. James E. Clyburn (D-SC-6) with 11 cosponsors on 7/23/2019, this bill provides up to $50,000 in tax-free student loan forgiveness per borrower for borrowers with household income less than or equal to $100,000. The bill provides loan forgiveness for private student loans by allowing them to be refinanced into federal student loans.
Streamlining Income-driven, Manageable Payments on Loans for Education (SIMPLE) Act (H.R. 3833). Introduced by Rep. Suzanne Bonamici (D-OR-1) with 5 cosponsors on 7/18/2019, this bipartisan bill automates the updating of income information for borrowers in income-driven repayment plans.
Student Loan Accrual Support and Help Act (SLASH Act) (H.R. 3793). Introduced by Rep. Kendra S. Horn (D-OK-5) with 2 cosponsors on 7/17/2019, this bill changes the interest rates on new federal education loans disbursed on or after July 1, 2020 to the high yield of the last 10-year Treasury Note auction in May or 5%, whichever is less. Interest rates on new loans could not increase by more than 0.5% compared to the previous year’s loans. The interest rates would be fixed rates. Current interest rates are equal to the high yield on the last 10-Year Treasury Note auction in May plus a margin of 2.05% to 4.6%. In effect, this change in the interest rates eliminates the margin.
Guaranteeing Respite After College Ends (GRACE) Act (H.R. 3792). Introduced by Rep. Kendra S. Horn (D-OK-5) with 2 cosponsors on 7/17/2019, this bill eliminates the accrual of interest during deferment and grace periods on all federal education loans disbursed on or after July 1, 2020.
Student Loan Reform Act (H.R. 3786). Introduced by Rep. Scott Perry (R-PA-10) with 1 cosponsor on 7/16/2019, this bill allows colleges to cosign federal student loans in exchange for a reduction in the interest rate charged to borrowers and an increase in the cohort default rate institutional eligibility threshold.
No Student Loan Interest Act (H.R. 3751). Introduced by Rep. Eric Swalwell (D-CA-15) with 9 cosponsors on 7/15/2019, this bill would set the interest rate on all federal student loans to zero.
Eliminating the Hidden Student Loan Tax Act (H.R. 3674). Introduced by Rep. Susan A. Davis (D-CA-53) with 3 cosponsors on 7/10/2019, this bipartisan bill eliminates origination fees on new federal student loans first disbursed on or after July 1, 2020.
College for All Act of 2019 (S. 1947 and H.R. 3472). Introduced by Sen. Bernie Sanders (I-VT) in the Senate on 6/24/2019 and Rep. Pramila Jayapal (D-WA-7) with 21 cosponsors in the House on 6/25/2019, this bill cuts interest rates on federal education loans, caps the interest rates at 1.88% and allows borrowers to refinance their federal education loans at the current interest rates. The bill also provides grants to eliminate tuition at public 4-year colleges and tribal colleges and makes other changes in federal student aid programs.
Student Debt Cancellation Act of 2019 (H.R. 3448). Introduced by Rep. Ilhan Omar (D-MN-5) with 15 cosponsors on 6/24/2019, this bill provides tax-free forgiveness of all federal and private education loans, including parent loans, made prior to the date of enactment.
Protecting Our Students by Terminating Graduate Rates that Add to Debt Act (H.R. 3418). Introduced by Rep. Judy Chu (D-CA-27) with 19 cosponsors on 6/21/2019, this bill restores graduate and professional student eligibility for subsidized Federal Direct Stafford Loans. Graduate and professional students have been ineligible for subsidized loans since July 1, 2012.
Parent PLUS Loan Improvement Act of 2019 (H.R. 3353). Introduced by Rep. Marcia L. Fudge (D-OH-11) with 16 cosponsors on 6/19/2019, this bipartisan bill makes Parent PLUS loans directly eligible for income-driven repayment plans.
If It's Good Enough for the Banks, It's Good Enough for Students Act (S. 1845). Introduced by Sen. Jeff Merkley (D-OR) with 2 cosponsors on 6/13/2019, this bill allows borrowers to refinance their federal student loans at the same interest rates that banks receive from the federal government, as a fixed interest rate.
Student Loan Fairness Act (H.R. 3257). Introduced by Rep. Karen Bass (D-CA-37) with 20 cosponsors on 6/13/2020, this bill creates a 10/10 student loan repayment plan in which loan payments are based on 10% of the borrower’s discretionary income – the amount by which AGI exceeds 150% of the poverty line – with tax-free forgiveness of $45,520 of the remaining principal balance, plus any interest that has accrued on this balance, after 120 monthly loan payments (10 years). The bill also caps the interest rate on new Direct Loans first disbursed on or after October 1, 2020 at 3.4%. The bill also reduces the repayment term for Public Service Loan Forgiveness (PSLF) from 120 payments to 60 payments.
Rural and Underserved Residencies to Attract Long-term Physicians Act (H.R. 3150). Introduced by Rep. Steve Watkins (R-KS-2) with 2 cosponsors on 6/5/2020, this bipartisan bill provides interest-free deferment for borrowers serving in medical and dental internships and residencies in national need areas.
Supporting the Teaching profession through Revitalizing Investments in Valuable Educators Act (H.R. 3139). Introduced by Rep. Donald Norcross (D-NJ-1) with 3 cosponsors on 6/5/2019, this bill changes Teacher Loan Forgiveness to provide up-front annual loan forgiveness of 15% of the loan balance for the first five years of repayment for teachers in STEM, special education and ESL fields. Other teachers would qualify for loan forgiveness of 10% of the loan balance for the first six years of repayment.
Helping Individuals Get a Higher Education while Reducing Education Debt (HIGHER ED) Act (H.R. 3102). Introduced by Rep. Peter A. DeFazio (D-OR-4) on 6/5/2019, this bill restores graduate and professional student eligibility for subsidized federal student loans, allows student loan debt to be discharged in bankruptcy, and allows private student loans to be refinanced as unsubsidized federal student loans. The bill provides partial loan forgiveness for borrowers pursuing Public Service Loan Forgiveness (PSLF) after 60 qualifying payments. The partial loan forgiveness would be retroactive. The number of repayment plans would be reduced to two, a standard repayment plan and an income-driven repayment plan. Payments under the income-driven repayment plan will be based on 10% of discretionary income, which is defined as the amount by which adjusted gross income (AGI) exceeds 225% of the poverty line, with forgiveness of the remaining debt after 300 loan payments (25 years).
Strengthening Loan Forgiveness for Public Servants Act (H.R. 3096). Introduced by Rep. Eric Swalwell (D-CA-15) with 23 cosponsors on 6/4/2019, this bill changes Public Service Loan Forgiveness (PSLF) from an all-or-nothing back-end loan forgiveness program to an up-front loan forgiveness program. This change will forgive 15%, 15%, 20%, 20%, and 30% of the amount a borrower owes after 2, 4, 6, 8, and 10 years of public service employment.
Know Your Repayment Options Act (H.R. 3095). Introduced by Rep. Eric Swalwell (D-CA-15) with 5 cosponsors on 6/4/2019, this bill requires the U.S. Department of Education to provide each student loan borrower an annual, personalized student loan repayment guide.
Student Loan Tax Elimination Act (S. 1696). Introduced by Sen. Mike Braun (R-IN) with 5 cosponsors on 6/3/2019, this bipartisan bill eliminates origination fees on federal student loans.
PSLF Technical Corrections Act of 2019 (S. 1175). Introduced by Sen. Sheldon Whitehouse (D-RI) with 1 cosponsor on 4/11/2019, this bill expands eligibility for Public Service Loan Forgiveness (PSLF) for borrowers in graduated and extended repayment plans.
Student Loan Refinancing Act (H.R. 2186).Introduced by Rep. Mark Pocan (D-WI-2) with 35 cosponsors on 4/9/2019, this bipartisan bill allows borrowers to refinance their federal student loans to the current interest rates.
Affordable Loans for Any Student Act (H.R. 2065 and S. 1002). Introduced by Rep. Rosa L. DeLauro (D-CT-3) in the House and Sen. Jeff Merkley (D-OR) in the Senate with 10 cosponsors on 4/3/2019, this bill eliminates origination fees and interest capitalization on Direct Loans first disbursed on or after July 1, 2020. The bill also reduces the number of repayment plans to two, a standard 10-year repayment plan and an income-driven repayment plan. The income-driven repayment plan will be available to Parent PLUS loan borrowers.
Bank on Students Emergency Loan Refinancing (H.R. 1707 and S. 768). Introduced by Rep. Joe Courtney (D-CT-2) with 87 cosponsors in the House and Sen. Elizabeth Warren (D-MA) with 35 cosponsors in the Senate on 3/13/2019, this bill allows borrowers to refinance their federal education loans and private student loans to the corresponding federal loan interest rates that were available in 2016-2017, as a fixed interest rate.
Student and Families Empowerment Act (H.R. 1798). Introduced by Rep. Kathleen M. Rice (D-NY-4) on 3/14/2019, this bill increases the grace period on federal education loans from 6 months to 12 months, with no accrual of interest during the grace period. The bill also makes the 20- or 25-year forgiveness in income-driven repayment plans tax-free. The bill replaces the $2,500 cap on interest eligible for the student loan interest deduction with the interest on up to $750,000 of qualified education loans (twice that for married borrowers filing jointly).
Physician Assistant Higher Education Modernization Act (H.R. 1685). Introduced by Rep. Karen Bass (D-CA-37) with 8 cosponsors on 3/12/2019, this bipartisan bill increases the loan limits for graduate students in physician assistant programs and creates a loan forgiveness program for physician assistants who work in areas of national need.
Debt-Free College Act of 2019 (H.R. 1571 and S. 672). Introduced by Rep. Mark Pcan (D-WI-2) with 35 cosponsors in the House and Sen. Brian Schatz (D-HI) with 9 cosponsors in the Senate on 3/6/2019, this bill provides a debt-free in-state public college education through a federal-state partnership. This bill also provides full eligibility for federal student aid for Dreamers. This bill also repeals the suspension of federal student aid for students convicted of sale or possession of controlled substances while receiving federal student aid.
REDI (Resident Education Deferred Interest) Act (H.R. 1554). Introduced by Rep. Brian Babin (R-TX-36) with 89 cosponsors on 3/6/2019, this bipartisan bill provides interest-free deferments on Direct Loans for borrowers serving in a medical or dental internship or residency.
Employer Participation in Repayment Act of 2019 (H.R. 1043). Introduced by Rep. Scott H. Peters (D-CA-52) with 271 cosponsors on 2/7/2019, this bipartisan bill makes up to $5,250 per year in employer-paid student loan repayment assistance programs (LRAPs) tax-free. A similar provision was included in the CARES Act.
Private Student Loan Bankruptcy Fairness Act (H.R. 885). Introduced by Rep. Steve Cohen (D-TN-9) with 14 cosponsors on 1/30/2019, this bill makes private student loans dischargeable in bankruptcy without requiring a demonstration of undue hardship.
