3.0.0 3752 2023-01-11T13:29:39Z 2023-01-11T13:29:39Z House HR 2015-10-09 114 [Congressional Record Volume 161, Number 149 (Friday, October 9, 2015)]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. POLIS:H.R. 3752.Congress has the power to enact this legislation pursuantto the following:Article 1, Section 8, Clause 1 of the Constitution[Page H6975]]]> hsed00 Education and the Workforce Committee House Standing hsed13 Higher Education and Workforce Development Subcomittee Referred to 2016-03-23T21:07:18Z Referred to 2015-10-09T13:01:00Z hswm00 Ways and Means Committee House Standing Referred to 2015-10-09T13:01:05Z ExCEL Act of 2015 114 3695 HR 2016-03-23 Referred to the Subcommittee on Higher Education and Workforce Training. Related bill CRS Dynamic Repayment Act of 2016 114 2456 S 2016-01-20 Read twice and referred to the Committee on Finance. Related bill CRS 2016-03-23 hsed13 Higher Education and Workforce Development Subcomittee 1 House committee actions Referred to the Subcommittee on Higher Education and Workforce Training. Committee 2015-10-09 Referred to the Committee on Education and the Workforce, and in addition to the Committee on Ways and Means, 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 hswm00 Ways and Means Committee 2015-10-09 Referred to the Committee on Education and the Workforce, and in addition to the Committee on Ways and Means, 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-A 9 Library of Congress 2015-10-09 Referred to the Committee on Education and the Workforce, and in addition to the Committee on Ways and Means, 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 2015-10-09 Introduced in House IntroReferral Intro-H 9 Library of Congress 2015-10-09 Introduced in House IntroReferral 1000 9 Library of Congress P000598 Rep. Polis, Jared [D-CO-2] Jared Polis D CO 2 N H001051 Rep. Hanna, Richard L. [R-NY-22] Richard Hanna R NY L. 22 2015-10-09 True Education Education programs funding Employee hiring Government information and archives Government lending and loan guarantees Higher education Income tax exclusion Interest, dividends, interest rates Military personnel and dependents Student aid and college costs Tax administration and collection, taxpayers User charges and fees Wages and earnings Education 00 2015-10-09 Introduced in House 2016-06-29T15:01:11Z Earnings Contingent Education Loans Act of 2015 or the ExCEL Act of 2015

This bill amends the Higher Education Act of 1965 to replace several existing federal student loan programs with a single repayment plan that caps annual debt repayments based on the borrower's income.

The bill terminates the authority of the Department of Education (ED) to make federal Direct Stafford Loans, Direct Unsubsidized Stafford Loans, and Direct PLUS loans, subject to exceptions for existing student borrowers, PLUS loans made to parents of undergraduates, and Direct Consolidation Loans.

To replace the programs, the bill establishes the Income Dependent Education Assistance (IDEA) Loan Program and the IDEA Loan Repayment Program, which limit annual repayments based on the borrower's income and prohibit the accrual of interest on loans for active duty service members. Loans under the program are not eligible for the federal public service loan forgiveness program.

The bill amends the Social Security Act (SSAct) to require ED and the Department of Health and Human Services to exchange information necessary to use the National Directory of New Hires to assist in the collection of student loans.

The bill amends the Internal Revenue Code to require the Department of the Treasury to disclose to ED tax return information necessary to carry out the IDEA Loan Repayment Program.

]]> ExCEL Act of 2015 Display Title ExCEL Act of 2015 Official Title as Introduced To simplify and improve the Federal student loan program through income-contingent repayment to provide stronger protections for borrowers, encourage responsible borrowing, and save money for taxpayers. Introduced in House IH Short Titles as Introduced ExCEL Act of 2015 Short Titles as Introduced Earnings Contingent Education Loans Act of 2015 Introduced in House 2015-10-09T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-114hr3752ih/xml/BILLS-114hr3752ih.xml 2016-03-23 Referred to the Subcommittee on Higher Education and Workforce Training. 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.