3.0.0 3257 2022-11-01T07:02:31Z 2022-11-01T07:02:31Z House HR 2019-06-13 116 [Congressional Record Volume 165, Number 99 (Thursday, June 13, 2019)][House]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Ms. BASS:H.R. 3257.Congress has the power to enact this legislation pursuantto the following:This resolution is enacted pursuant to the power granted inCongress under Article I, Section 1.[Page H4696]]]> hswm00 Ways and Means Committee House Standing Referred to 2019-06-13T13:04:35Z hsba00 Financial Services Committee House Standing Referred to 2019-06-13T13:04:30Z hsed00 Education and the Workforce Committee House Standing Referred to 2019-06-13T13:04:25Z 2019-06-13 Referred to the Committee on Education and Labor, 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 2019-06-13 Referred to the Committee on Education and Labor, 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 2019-06-13 Referred to the Committee on Education and Labor, 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 2019-06-13 Introduced in House IntroReferral Intro-H 9 Library of Congress 2019-06-13 Introduced in House IntroReferral 1000 9 Library of Congress B001270 Rep. Bass, Karen [D-CA-37] Karen Bass D CA 37 N N000147 Del. Norton, Eleanor Holmes [D-DC-At Large] ELEANOR NORTON D DC HOLMES 0 2019-06-13 True B000490 Rep. Bishop, Sanford D., Jr. [D-GA-2] SANFORD BISHOP D GA D. 2 2019-06-13 True C000537 Rep. Clyburn, James E. [D-SC-6] JAMES CLYBURN D SC E. 6 2019-06-13 True J000126 Rep. Johnson, Eddie Bernice [D-TX-30] EDDIE JOHNSON D TX BERNICE 30 2019-06-13 True R000515 Rep. Rush, Bobby L. [D-IL-1] BOBBY RUSH D IL L. 1 2019-06-13 True T000193 Rep. Thompson, Bennie G. [D-MS-2] BENNIE THOMPSON D MS 2 2019-06-13 True J000032 Rep. Jackson Lee, Sheila [D-TX-18] SHEILA JACKSON LEE D TX 18 2019-06-13 True L000551 Rep. Lee, Barbara [D-CA-13] BARBARA LEE D CA 13 2019-06-13 True L000581 Rep. Lawrence, Brenda L. [D-MI-14] Brenda Lawrence D MI L. 14 2019-06-13 True C001049 Rep. Clay, Wm. Lacy [D-MO-1] WM. CLAY D MO LACY 1 2019-06-13 True B001251 Rep. Butterfield, G. K. [D-NC-1] G. K. Butterfield D NC 1 2019-06-13 True C001061 Rep. Cleaver, Emanuel [D-MO-5] Emanuel Cleaver D MO 5 2019-06-13 True J000288 Rep. Johnson, Henry C. "Hank," Jr. [D-GA-4] Henry Johnson D GA C. "Hank" 4 2019-06-13 True F000455 Rep. Fudge, Marcia L. [D-OH-11] Marcia Fudge D OH L. 11 2019-06-13 True R000588 Rep. Richmond, Cedric L. [D-LA-2] Cedric Richmond D LA L. 2 2019-06-13 True P000604 Rep. Payne, Donald M., Jr. [D-NJ-10] Donald Payne D NJ M. 10 2019-06-13 True K000385 Rep. Kelly, Robin L. [D-IL-2] Robin Kelly D IL L. 2 2019-06-13 True A000370 Rep. Adams, Alma S. [D-NC-12] Alma Adams D NC S. 12 2019-06-13 True P000610 Del. Plaskett, Stacey E. [D-VI-At Large] Stacey Plaskett D VI E. 0 2019-06-13 True H001081 Rep. Hayes, Jahana [D-CT-5] Jahana Hayes D CT 5 2019-06-13 True 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 2019-06-13 Introduced in House 2021-01-28T21:31:29Z Student Loan Fairness Act

This bill addresses repayment plans, forgiveness, and applicable interest rates for student loans.

Among other things, the bill

  • establishes an income-based 10/10 Loan Repayment Plan and specifies the calculation of monthly loan payments under the plan for borrowers of Federal Family Education Loans (FFELs) and Direct Loans;
  • establishes a 10/10 Loan Forgiveness Program that provides FFEL and Direct Loan 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;
  • caps the interest rate on new Direct Loans at 3.4%;
  • revises the Public Service Loan Forgiveness (PSLF) program to forgive the Direct Loans of participants who have made 60 (rather than 120) monthly payments on such loans pursuant to specified repayment plans;
  • includes primary care physicians in medically underserved areas in the PSLF program;
  • allows certain borrowers to consolidate their private education loans as Direct Consolidation Loans;
  • directs 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; and
  • requires ED to 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.
]]> 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 Title(s) as Introduced Student Loan Fairness Act Introduced in House IH Introduced in House 2019-06-13T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-116hr3257ih/xml/BILLS-116hr3257ih.xml 2019-06-13 Referred to the Committee on Education and Labor, 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.