3.0.0 1127 2023-01-11T13:35:09Z 2023-01-11T13:35:09Z House HR 2017-02-16 115 [Congressional Record Volume 163, Number 28 (Thursday, February 16, 2017)]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Ms. BASS:H.R. 1127.Congress has the power to enact this legislation pursuantto the following:This bill is enacted pursuant to the power granted toCongress under Article 1, Section 1.Article. I.Section 1.All legislative Powers herein granted shall be vested in aCongress of the United States, which shall consist of aSenate and House of Representatives.[Page H1304]]]> hswm00 Ways and Means Committee House Standing Referred to 2017-02-16T15:05:25Z hsba00 Financial Services Committee House Standing Referred to 2017-02-16T15:05:20Z hsed00 Education and the Workforce Committee House Standing Referred to 2017-02-16T15:05:15Z 2017-02-16 Referred to the Committee on Education and the Workforce, and in addition to the Committees on Financial Services, and 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 2017-02-16 Referred to the Committee on Education and the Workforce, and in addition to the Committees on Financial Services, and 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 hsba00 Financial Services Committee 2017-02-16 Referred to the Committee on Education and the Workforce, and in addition to the Committees on Financial Services, and 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 2017-02-16 Referred to the Committee on Education and the Workforce, and in addition to the Committees on Financial Services, and 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 2017-02-16 Introduced in House IntroReferral Intro-H 9 Library of Congress 2017-02-16 Introduced in House IntroReferral 1000 9 Library of Congress B001270 Rep. Bass, Karen [D-CA-37] Karen Bass D CA 37 N C001066 Rep. Castor, Kathy [D-FL-14] Kathy Castor D FL 14 2017-03-02 False D000623 Rep. DeSaulnier, Mark [D-CA-11] Mark DeSaulnier D CA 11 2017-03-08 False T000193 Rep. Thompson, Bennie G. [D-MS-2] BENNIE THOMPSON D MS 2 2018-10-02 False Education Administrative law and regulatory procedures Consumer Financial Protection Bureau Education programs funding Government employee pay, benefits, personnel management Government lending and loan guarantees Health care coverage and access Health personnel Higher education Income tax exclusion Interest, dividends, interest rates Medical education Student aid and college costs Education 00 2017-02-16 Introduced in House 2017-08-22T20:21:14Z Student Loan Fairness Act

This bill amends title IV (Student Assistance) of the Higher Education Act of 1965 (HEA) to establish a 10/10 Loan Repayment Plan that allows borrowers of Federal Family Education Loans (FFELs) and Direct Loans (DLs) to limit their monthly loan payments to one-twelfth of 10% of the amount by which their adjusted gross incomes and that of their spouses (if applicable) exceed 150% of the federal poverty level.

Additionally, it establishes a 10/10 Loan Forgiveness Program that provides FFEL and DL forgiveness to borrowers who, over 10 years, have made 120 monthly payments under the 10/10 Loan Repayment Plan or under another repayment plan that required them to make payments at least as large as those they would have made under the 10/10 Loan Repayment Plan.

It caps the interest rate on new DLs at 3.4%.

It amends the public service employee loan forgiveness program to forgive the DLs of participants who have made 60 (currently, 120) monthly payments on such loans pursuant to specified repayment plans.

The bill includes primary care physicians in medically underserved areas in the public service employee loan forgiveness program.

Certain borrowers may consolidate their private education loans as Direct Consolidation Loans.

It amends the Truth in Lending Act to direct the Consumer Financial Protection Bureau to issue regulations that require private education lenders to sell private education loans to the Department of Education (ED) for consolidation as Direct Consolidation Loans.

ED must pay the interest that accrues on certain student loans due to the borrower's lack of full-time employment for an interest-free deferment period of up to three years.

It excludes from a borrower's gross income for income tax purposes the principal and interest on FFELs and DLs that is forgiven pursuant to income-based repayment plans.

]]> Student Loan Fairness Act Display Title Student Loan Fairness Act Official Title as Introduced To increase purchasing power, strengthen economic recovery, and restore fairness in financing higher education in the United States through student loan forgiveness, caps on interest rates on Federal student loans, and refinancing opportunities for private borrowers, and for other purposes. Introduced in House IH Short Titles as Introduced Student Loan Fairness Act Introduced in House 2017-02-16T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-115hr1127ih/xml/BILLS-115hr1127ih.xml 2017-02-16 Referred to the Committee on Education and the Workforce, and in addition to the Committees on Financial Services, and 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. 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.