3.0.0 2099 2023-01-11T13:29:44Z 2023-01-11T13:29:44Z Senate S 2015-09-29 114 ssfi00 Finance Committee Senate Standing Referred to 2015-09-29T21:22:56Z Student Loan Relief Act of 2015 114 4102 HR 2016-03-23 Referred to the Subcommittee on Higher Education and Workforce Training. Identical bill CRS 2015-09-29 ssfi00 Finance Committee Senate Read twice and referred to the Committee on Finance. IntroReferral 2015-09-29 Introduced in Senate IntroReferral 10000 9 Library of Congress A000368 Sen. Ayotte, Kelly [R-NH] Kelly Ayotte R NH N C001047 Sen. Capito, Shelley Moore [R-WV] Shelley Capito R WV Moore 2015-09-29 True P000449 Sen. Portman, Rob [R-OH] Rob Portman R OH 2015-11-19 False Taxation Employee benefits and pensions Government information and archives Government lending and loan guarantees Income tax exclusion Interest, dividends, interest rates Student aid and college costs Unemployment Taxation 00 2015-09-29 Introduced in Senate 2015-11-16T19:54:33Z Student Loan Relief Act of 2015

This bill authorizes the Department of the Treasury to establish a temporary three-year program to facilitate federal student loan refinancing into the private market, at no cost to the federal government, to ensure payment of lower interest rates on student loans. Private lenders under such refinancing program shall be eligible to receive a federal government guarantee of 95% of loans.

Treasury shall, in consultation with the Department of Education, begin a national awareness campaign to alert student loan borrowers about such refinancing program with a disclosure that a private loan that results from such refinancing is not eligible for income driven repayment or loan forgivingness.

The bill amends the Internal Revenue Code to allow an exclusion from gross income for the payment of an employer, either to an employee or a lender, of any indebtedness of an employee under a qualified education refinance loan or any interest relating to such a loan. The term "qualified education refinance loan" means any indebtedness used solely to refinance a qualified education loan with respect to which the lender offers the borrower protection in the event of unemployment or financial hardship.

]]> Student Loan Relief Act of 2015 Display Title Student Loan Relief Act of 2015 Official Title as Introduced A bill to provide for the establishment of a mechanism to allow borrowers of Federal student loans to refinance their loans, to amend the Internal Revenue Code of 1986 to extend the exclusion for employer-provided educational assistance to employer payment of interest on certain refinanced student loans, and for other purposes. Introduced in Senate IS Short Titles as Introduced Student Loan Relief Act of 2015 Introduced in Senate 2015-09-29T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-114s2099is/xml/BILLS-114s2099is.xml 2015-09-29 Read twice and referred to the Committee on Finance. 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.