3.0.0 1002 2022-11-01T19:02:22Z 2022-11-01T19:02:22Z Senate S 2019-04-03 116 sshr00 Health, Education, Labor, and Pensions Committee Senate Standing Referred to 2019-04-03T17:05:02Z Affordable Loans for Any Student Act 116 2065 HR 2019-04-03 Referred to the Committee on Education and Labor, and in addition to the Committees on Ways and Means, and Financial Services, 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. Identical bill CRS Student Loan Tax Elimination Act 116 1696 S 2019-06-03 Read twice and referred to the Committee on Health, Education, Labor, and Pensions. Related bill CRS Student Aid Simplification Act 116 640 HR 2019-01-17 Referred to the Committee on Ways and Means, and in addition to the Committee on Education and Labor, 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 Joint Consolidation Loan Separation Act 116 2728 HR 2019-05-14 Referred to the House Committee on Education and Labor. Related bill CRS Eliminating the Hidden Student Loan Tax Act 116 3674 HR 2019-07-10 Referred to the House Committee on Education and Labor. Related bill CRS Joint Consolidation Loan Separation Act 116 1489 S 2019-05-15 Read twice and referred to the Committee on Health, Education, Labor, and Pensions. Related bill CRS 2019-04-03 sshr00 Health, Education, Labor, and Pensions Committee Senate Read twice and referred to the Committee on Health, Education, Labor, and Pensions. IntroReferral 2019-04-03 Introduced in Senate IntroReferral 10000 9 Library of Congress M001176 Sen. Merkley, Jeff [D-OR] Jeff Merkley D OR N S000770 Sen. Stabenow, Debbie [D-MI] Debbie Stabenow D MI 2019-04-03 True G000555 Sen. Gillibrand, Kirsten E. [D-NY] Kirsten Gillibrand D NY E. 2019-04-03 True B001230 Sen. Baldwin, Tammy [D-WI] Tammy Baldwin D WI 2019-04-03 True B001277 Sen. Blumenthal, Richard [D-CT] Richard Blumenthal D CT 2019-04-03 True S001194 Sen. Schatz, Brian [D-HI] Brian Schatz D HI 2019-04-03 True C000141 Sen. Cardin, Benjamin L. [D-MD] Ben Cardin D MD 2019-04-03 True C001113 Sen. Cortez Masto, Catherine [D-NV] Catherine Cortez Masto D NV 2019-04-03 True V000128 Sen. Van Hollen, Chris [D-MD] Chris Van Hollen D MD 2019-04-03 True W000779 Sen. Wyden, Ron [D-OR] Ron Wyden D OR 2019-04-03 True H001075 Sen. Harris, Kamala D. [D-CA] Kamala Harris D CA D. 2019-06-10 False Education Administrative law and regulatory procedures Congressional oversight Debt collection Financial literacy Government information and archives Government lending and loan guarantees Government studies and investigations Higher education Interest, dividends, interest rates Internet and video services Internet, web applications, social media Marriage and family status Public contracts and procurement Student aid and college costs Tax administration and collection, taxpayers User charges and fees Wages and earnings Education 00 2019-04-03 Introduced in Senate 2020-10-08T20:13:34Z Affordable Loans for Any Student Act

This bill addresses repayment options, loan disclosures, and loan counseling for student loans.

The bill revises requirements concerning repayment options for student loan borrowers. For instance, the bill terminates interest capitalization and origination fees for Federal Direct Loans, provides assistance to low-income borrowers or borrowers who are delinquent on loan payments, and replaces the existing income-based repayment plans with two new plans. Under the new plans, borrowers may choose (1) a fixed repayment plan with equal monthly payments paid over a period of 10 years, or (2) an income-based repayment plan with monthly payments equal to 10% percent of their income above the poverty level. The income-based plan is capped at 20 years of payments.

The bill also revises requirements concerning student loan disclosures and student loan counseling for borrowers. For instance, the bill requires the Department of Education to maintain online counseling tools that provide borrowers with annual and exit student loan counseling.

]]> Affordable Loans for Any Student Act Display Title Affordable Loans for Any Student Act Short Title(s) as Introduced Affordable Loans for Any Student Act Introduced in Senate IS Official Title as Introduced A bill to amend the Higher Education Act of 1965 in order to increase usage of the Federal student loan income-based repayment plan and improve repayment options for borrowers, and for other purposes. Introduced in Senate IS Introduced in Senate 2019-04-03T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-116s1002is/xml/BILLS-116s1002is.xml 2019-04-03 Read twice and referred to the Committee on Health, Education, Labor, and Pensions. 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.