I 111th CONGRESS 2d Session H. R. 4834 IN THE HOUSE OF REPRESENTATIVES March 11, 2010 Mr. Schauer introduced the following bill; which was referred to the Committee on Education and Labor A BILL To amend section 493C of the Higher Education Act of 1965 to limit student loan payments to 10 percent of discretionary income, and for other purposes.

1.

Short title

The Act may be cited as the Student Debt Reduction Act.

2.

Income-based repayment

Section 493C of the Higher Education Act of 1965 (20 U.S.C. 1098e) is amended— (1)in the matter preceding clause (i) of subsection (a)(3)(B), by striking 15 percent and inserting 10 percent; and (2)in the matter preceding clause (i) of subsection (b)(7)(B), by striking 25 years and inserting 20 years.