Parent PLUS Loan Improvement Act of 2019 2019-06-19 Introduced in House Parent PLUS Loan Improvement Act of 2019

This bill modifies requirements concerning the applicable terms and conditions of Federal Direct PLUS Loans made by parent borrowers (i.e., parent PLUS loans) on behalf of their dependent college students.

Specifically, it reduces the interest rate and eliminates the origination fee for a parent PLUS loan disbursed on or after July 1, 2019.

The Department of Education must ensure, prior to disbursement, that parent PLUS loan borrowers receive counseling that includes comprehensive information on the terms and conditions of the loans and the responsibilities of the borrowers.

The bill makes parent PLUS loans eligible for the income-contingent and income-based repayment plans. Additionally, it makes consolidation loans that repay parent PLUS loans eligible for the income-based repayment plans.

]]> 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 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.