3.0.0 4236 2023-01-11T13:26:50Z 2023-01-11T13:26:50Z House H HR 2014-03-13 113 From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mrs. DAVIS of California:H.R. 4236.Congress has the power to enact this legislation pursuantto the following:Article I, Sec. 8[Page H2434]]]> hsba00 Financial Services Committee House Standing Referred to 2014-03-13T14:02:40Z hsed00 Education and the Workforce Committee House Standing Referred to 2014-03-13T14:02:35Z 2014-03-13 Referred to the Committee on Education and the Workforce, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2014-03-13 Referred to the Committee on Education and the Workforce, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. IntroReferral H11100 2 House floor actions hsed00 Education and the Workforce Committee 2014-03-13 Introduced in House IntroReferral Intro-H 9 Library of Congress 2014-03-13 Introduced in House IntroReferral 1000 9 Library of Congress D000598 Rep. Davis, Susan A. [D-CA-53] SUSAN DAVIS D CA A. 53 N J000255 Rep. Jones, Walter B., Jr. [R-NC-3] WALTER JONES R NC B. 3 2014-05-07 False P000608 Rep. Peters, Scott H. [D-CA-52] Scott Peters D CA H. 52 2014-05-21 False P000593 Rep. Perlmutter, Ed [D-CO-7] Ed Perlmutter D CO 7 2014-06-19 False D000610 Rep. Deutch, Theodore E. [D-FL-21] Theodore Deutch D FL E. 21 2014-07-11 False Education Government lending and loan guarantees Higher education Interest, dividends, interest rates Student aid and college costs User charges and fees Education 00 2014-03-13 Introduced in House 2014-05-13T19:34:28Z Student Loan Fair Prepayment Act - Amends title IV (Student Assistance) of the Higher Education Act of 1965 to require that when the holder of a borrower's loans under the Federal Family Education Loan (FFEL) or William D. Ford Federal Direct Loan (DL) programs receives a prepayment for such loans, it is to be applied first toward any fees due on such loans and then, unless the borrower requests otherwise, toward the principal due on the loan that bears the highest interest rate.

Makes that requirement inapplicable to income-based or income contingent repayment plans for FFELs or DLs.

Requires an institution of higher education holding a borrower's loans under the Federal Perkins Loan program to first apply any excess payments by the borrower toward any fees due on such loans and then, unless the borrower requests otherwise, toward the principal due on the loan that bears the highest interest rate.

Amends the Truth in Lending Act to require a private education loan holder that holds more than one private education loan for a borrower to apply any prepayments on those loans first toward any fees due on such loans and then, unless the borrower requests otherwise, toward the principal due on the loan that bears the highest interest rate.

]]> Student Loan Fair Prepayment Act Display Title Student Loan Fair Prepayment Act Official Title as Introduced To amend the Higher Education Act of 1965 and the Truth in Lending Act to clarify the application of prepayment amounts on student loans. Introduced in House IH Short Titles as Introduced Student Loan Fair Prepayment Act Introduced in House 2014-03-13T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-113hr4236ih/xml/BILLS-113hr4236ih.xml 2014-03-13 Referred to the Committee on Education and the Workforce, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.