3.0.0 6597 2023-01-11T13:43:08Z 2023-01-11T13:43:08Z House HR 2020-04-22 116 [Congressional Record Volume 166, Number 76 (Wednesday, April 22, 2020)][House]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Ms. STEFANIK:H.R. 6597.Congress has the power to enact this legislation pursuantto the following:Article I, section 8 of the Constitution of the UnitedStates.[Page H1904]]]> hsed00 Education and the Workforce Committee House Standing Referred to 2020-04-22T17:01:05Z Student Loan Fairness Act 116 4237 S 2020-07-21 Read twice and referred to the Committee on Health, Education, Labor, and Pensions. (Sponsor introductory remarks on measure: CR S4351) Related bill CRS 2020-04-22 Referred to the House Committee on Education and Labor. IntroReferral H11100 2 House floor actions hsed00 Education and the Workforce Committee 2020-04-22 Introduced in House IntroReferral Intro-H 9 Library of Congress 2020-04-22 Introduced in House IntroReferral 1000 9 Library of Congress S001196 Rep. Stefanik, Elise M. [R-NY-21] Elise Stefanik R NY M. 21 N T000482 Rep. Trahan, Lori [D-MA-3] Lori Trahan D MA 3 2020-04-22 True S001199 Rep. Smucker, Lloyd [R-PA-11] Lloyd Smucker R PA 11 2020-04-22 True A000370 Rep. Adams, Alma S. [D-NC-12] Alma Adams D NC S. 12 2020-04-22 True L000590 Rep. Lee, Susie [D-NV-3] Susie Lee D NV 3 2020-04-22 True W000800 Rep. Welch, Peter [D-VT-At Large] Peter Welch D VT 0 2020-04-22 True F000466 Rep. Fitzpatrick, Brian K. [R-PA-1] Brian Fitzpatrick R PA K. 1 2020-04-22 True W000822 Rep. Watson Coleman, Bonnie [D-NJ-12] Bonnie Watson Coleman D NJ 12 2020-04-22 True W000826 Rep. Wild, Susan [D-PA-7] Susan Wild D PA 7 2020-05-01 False L000588 Rep. Lamb, Conor [D-PA-17] Conor Lamb D PA 17 2020-05-05 False K000386 Rep. Katko, John [R-NY-24] John Katko R NY 24 2020-05-05 False F000455 Rep. Fudge, Marcia L. [D-OH-11] Marcia Fudge D OH L. 11 2020-05-05 False T000193 Rep. Thompson, Bennie G. [D-MS-2] BENNIE THOMPSON D MS 2 2020-05-08 False L000565 Rep. Loebsack, David [D-IA-2] David Loebsack D IA 2 2020-05-08 False J000032 Rep. Jackson Lee, Sheila [D-TX-18] SHEILA JACKSON LEE D TX 18 2020-05-08 False H001081 Rep. Hayes, Jahana [D-CT-5] Jahana Hayes D CT 5 2020-05-08 False T000238 Rep. Thornberry, Mac [R-TX-13] WILLIAM THORNBERRY R TX M. 13 2020-05-08 False H001090 Rep. Harder, Josh [D-CA-10] Josh Harder D CA 10 2020-05-12 False L000586 Rep. Lawson, Al, Jr. [D-FL-5] Al Lawson D FL 5 2020-05-22 False F000454 Rep. Foster, Bill [D-IL-11] Bill Foster D IL 11 2020-05-22 False F000467 Rep. Finkenauer, Abby [D-IA-1] Abby Finkenauer D IA 1 2020-05-22 False A000378 Rep. Axne, Cynthia [D-IA-3] Cynthia Axne D IA 3 2020-06-08 False S000510 Rep. Smith, Adam [D-WA-9] ADAM SMITH D WA 9 2020-06-08 False P000618 Rep. Porter, Katie [D-CA-45] Katie Porter D CA 45 2020-06-18 False W000827 Rep. Wright, Ron [R-TX-6] Ron Wright R TX 6 2020-06-22 False H001047 Rep. Himes, James A. [D-CT-4] James Himes D CT A. 4 2020-08-04 False C001090 Rep. Cartwright, Matt [D-PA-8] Matt Cartwright D PA 8 2020-08-28 False B001308 Rep. Brindisi, Anthony [D-NY-22] Anthony Brindisi D NY 22 2020-08-28 False M001208 Rep. McBath, Lucy [D-GA-6] Lucy McBath D GA 6 2020-09-04 False G000583 Rep. Gottheimer, Josh [D-NJ-5] Josh Gottheimer D NJ 5 2020-09-23 False Education Cardiovascular and respiratory health Debt collection Education programs funding Emergency medical services and trauma care Government information and archives Government lending and loan guarantees Higher education Infectious and parasitic diseases Interest, dividends, interest rates Student aid and college costs Wages and earnings Education 00 2020-04-22 Introduced in House 2021-01-22T21:07:29Z Equity in Student Loan Relief Act

This bill establishes a temporary program to suspend payments and interest through September 30, 2020, on Federal Family Education Loans (FFELs) that are not held by the Department of Education (ED). (Currently, payments and interest are suspended through this period on certain Federal Direct Loans and FFELs held by ED.)

Specifically, ED must (1) enter into agreements with eligible lenders and guaranty agencies to reduce the interest rate to 0% on FFELs, and (2) make monthly payments to lenders and guaranty agencies to offset the cost of the reduced interest rate.

A lender or guaranty agency that enters into an agreement with ED must (1) temporarily waive interest and suspend all payments due from borrowers through September 30, 2020; (2) suspend all involuntary collections; (3) notify borrowers, within 15 days, that their loan payments have been suspended and interest has been waived; and (4) carry out a program, beginning on August 1, 2020, to provide not fewer than six notices to borrowers that normal payment obligations will resume.

Additionally, ED must deem each month for which a loan payment was suspended as if the borrower of the loan had made a payment for the purpose of any authorized loan forgiveness program or loan rehabilitation program.

Finally, ED must ensure that any suspended payment on such a loan is treated as a regularly scheduled payment made by a borrower for the purpose of reporting information about the loan to a consumer reporting agency.

]]> Equity in Student Loan Relief Act Display Title Equity in Student Loan Relief Act Official Title as Introduced To extend zero interest rate benefits and payment suspension to certain Federal student loan borrowers, and for other purposes. Introduced in House IH Short Title(s) as Introduced Equity in Student Loan Relief Act Introduced in House IH Introduced in House 2020-04-22T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-116hr6597ih/xml/BILLS-116hr6597ih.xml 2020-04-22 Referred to the House Committee on Education and Labor. 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.