3.0.0 7288 2022-12-29T22:18:25Z 2022-12-29T22:18:25Z House HR 2022-03-30 117 [Congressional Record Volume 168, Number 56 (Wednesday, March 30, 2022)][House]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Ms. DeLAURO:H.R. 7288.Congress has the power to enact this legislation pursuantto the following:Article I, Section 8, clause 3 provides Congress with thepower to ``regulate commerce with foreign nations, and amongthe several states, and with the Indian tribes.''[Page H4006]]]> hsba00 Financial Services Committee House Standing Referred to 2022-03-30T14:01:25Z hsed00 Education and the Workforce Committee House Standing Referred to 2022-03-30T14:01:20Z Affordable Loans for Any Student Act 117 3953 S 2022-03-30 Read twice and referred to the Committee on Health, Education, Labor, and Pensions. Identical bill CRS Student Debt Relief and College Affordability Act 117 4459 S 2022-06-23 Read twice and referred to the Committee on Finance. Related bill CRS 2022-03-30 Referred to the Committee on Education and Labor, and in addition to the Committee on 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. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2022-03-30 Referred to the Committee on Education and Labor, and in addition to the Committee on 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. IntroReferral H11100 2 House floor actions hsed00 Education and the Workforce Committee 2022-03-30 Introduced in House IntroReferral Intro-H 9 Library of Congress 2022-03-30 Introduced in House IntroReferral 1000 9 Library of Congress D000216 Rep. DeLauro, Rosa L. [D-CT-3] ROSA DELAURO D CT 3 N H001081 Rep. Hayes, Jahana [D-CT-5] Jahana Hayes D CT 5 2022-03-30 True S001205 Rep. Scanlon, Mary Gay [D-PA-5] Mary Scanlon D PA Gay 5 2022-03-30 True P000608 Rep. Peters, Scott H. [D-CA-52] Scott Peters D CA H. 52 2022-08-02 False Education Education 00 2022-03-30 Introduced in House 2022-05-13T21:35:03Z 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 entrance 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 House IH Official Title as Introduced 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 House IH Introduced in House 2022-03-30T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-117hr7288ih/xml/BILLS-117hr7288ih.xml 2022-03-30 Referred to the Committee on Education and Labor, and in addition to the Committee on 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. 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.