3.0.0 1845 2022-11-01T13:51:06Z 2022-11-01T13:51:06Z Senate S 2019-06-13 116 sshr00 Health, Education, Labor, and Pensions Committee Senate Standing Referred to 2019-06-13T17:24:35Z Bank on Students Emergency Loan Refinancing Act 116 1707 HR 2019-03-13 Referred to the Committee on Education and Labor, 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 116 768 S 2019-03-13 Read twice and referred to the Committee on Finance. Related bill CRS HIGHER ED Act 116 3102 HR 2019-06-28 Referred to the Subcommittee on Antitrust, Commercial, and Administrative Law. Related bill CRS College Affordability Act 116 4674 HR 2020-12-28 Placed on the Union Calendar, Calendar No. 583. Related bill CRS Coronavirus Emergency Student Loan Refinancing Act 116 6397 HR 2020-03-26 Referred to the House Committee on Education and Labor. Related bill CRS 2019-06-13 sshr00 Health, Education, Labor, and Pensions Committee Senate Read twice and referred to the Committee on Health, Education, Labor, and Pensions. IntroReferral 2019-06-13 Introduced in Senate IntroReferral 10000 9 Library of Congress M001176 Sen. Merkley, Jeff [D-OR] Jeff Merkley D OR N B001288 Sen. Booker, Cory A. [D-NJ] Cory Booker D NJ 2019-06-13 True G000555 Sen. Gillibrand, Kirsten E. [D-NY] Kirsten Gillibrand D NY E. 2019-06-13 True Education Education programs funding Government lending and loan guarantees Higher education Interest, dividends, interest rates Student aid and college costs Education 00 2019-06-13 Introduced in Senate 2021-01-27T21:07:10Z If It's Good Enough For the Banks, It's Good Enough For Students Act

This bill establishes a program that allows qualified borrowers to refinance their Federal Direct Loans down to the lower interest rates offered to banks by the Federal Reserve System (i.e., through the discount window). The refinanced interest rate is fixed for the period of the loan.

The bill also directs the Department of Education and the Consumer Financial Protection Bureau to carry out a campaign to notify qualified borrowers who are not in default on their loans that they are eligible to apply for refinancing under the program within a two-year period.

]]> If It's Good Enough For the Banks, It's Good Enough For Students Act Display Title If It's Good Enough For the Banks, It's Good Enough For Students Act Short Title(s) as Introduced If It's Good Enough For the Banks, It's Good Enough For Students Act Introduced in Senate IS Official Title as Introduced A bill to enable borrowers of Federal student loans to refinance those loans at interest rates that are equivalent to the interest rates at which the Federal Government provides loans to banks through the discount window operated by the Federal Reserve System. Introduced in Senate IS Introduced in Senate 2019-06-13T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-116s1845is/xml/BILLS-116s1845is.xml 2019-06-13 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.