3.0.0 1521 2023-01-11T13:37:08Z 2023-01-11T13:37:08Z Senate S 2017-07-10 115 sshr00 Health, Education, Labor, and Pensions Committee Senate Standing Referred to 2017-07-10T21:16:56Z Bank on Students Emergency Loan Refinancing Act 115 2477 HR 2017-05-17 Referred to the Committee on Education and the Workforce, and in addition to the Committees on Ways and Means, and the Budget, 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. Related bill CRS Bank on Students Emergency Loan Refinancing Act 115 1162 S 2017-05-17 Read twice and referred to the Committee on Finance. (Sponsor introductory remarks on measure: CR S3015) Related bill CRS Student Loan Refinancing and Recalculation Act 115 4001 HR 2017-10-10 Referred to the House Committee on Education and the Workforce. Related bill CRS Student Loan Relief Act of 2017 115 3390 HR 2017-07-25 Referred to the House Committee on Education and the Workforce. Identical bill CRS 2017-07-10 sshr00 Health, Education, Labor, and Pensions Committee Senate Read twice and referred to the Committee on Health, Education, Labor, and Pensions. (Sponsor introductory remarks on measure: CR S3886-3887) IntroReferral 2017-07-10 Introduced in Senate IntroReferral 10000 9 Library of Congress N000032 Sen. Nelson, Bill [D-FL] CLARENCE NELSON D FL WILLIAM N Education Government information and archives Government lending and loan guarantees Higher education Interest, dividends, interest rates Student aid and college costs User charges and fees Education 00 2017-07-10 Introduced in Senate 2019-01-10T23:13:45Z Student Loan Relief Act of 2017

This bill amends title IV (Student Assistance) of the Higher Education Act of 1965 to cap the interest rate for new Federal Direct Stafford Loans and Federal Direct Unsubsidized Stafford Loans that are disbursement on or after July 1, 2018. Specifically, the bill caps the rates for: (1) undergraduate students at 4%, (2) graduate students at 5%, and (3) parents of undergraduates at 6%.

In addition, the bill eliminates loan origination fees charged to students to process their loans.

Finally, the bill establishes a program that allows eligible students with existing loans under the Federal Direct Loan program (a Federal Direct Stafford Loan, a Federal Direct Unsubsidized Stafford Loan, a Federal Direct PLUS Loan, or a Federal Direct Consolidation Loan) to refinance their loans down to the lower rates offered to new federal borrowers in the 2017-2018 school year. The program must also allow students with loans under the Federal Family Education Loans program to refinance them as federal direct loans.

]]> Student Loan Relief Act of 2017 Display Title Student Loan Relief Act of 2017 Official Title as Introduced A bill to amend the Higher Education Act of 1965 to reduce the interest rate caps for Federal Direct student loans, to eliminate loan origination fees on all Federal Direct student loans, and to provide for refinancing of Federal Direct student loans and Federal family education loans. Introduced in Senate IS Short Titles as Introduced Student Loan Relief Act of 2017 Introduced in Senate 2017-07-10T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-115s1521is/xml/BILLS-115s1521is.xml 2017-07-10 Read twice and referred to the Committee on Health, Education, Labor, and Pensions. (Sponsor introductory remarks on measure: CR S3886-3887) 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.