HR 5895 112th Congress House Education Government lending and loan guarantees Higher education Interest, dividends, interest rates Student aid and college costs Unemployment

Graduate Success Act

Introduced: June 5, 2012 See on congress.gov

Everywhere this bill has been 3 steps

Introduced

In committee

Reported out

Passed House

Passed Senate

To President

Became law

Sep 26, 2012

Referred to the Subcommittee on Higher Education and Workforce Training.

Jun 5, 2012

Referred to the House Committee on Education and the Workforce.

Jun 5, 2012

Introduced in House

Plain-English summary Congressional Research Service

Graduate Success Act - Amends title IV (Student Assistance) of the Higher Education Act of 1965 to direct the Secretary of Education to pay the interest that accrues on unsubsidized Federal Family Education Loans (FFELs) and Direct Loans (DLs) that are deferred due to a student borrower's lack of full-time employment.

Requires the Secretary to pay the interest that accrues on Federal Consolidation Loans that are in deferment due to a borrower's lack of full-time employment, provided the application for such a loan is received on or after this Act's enactment.

Directs the Secretary to pay the interest that accrues on FFELs and DLs that are subject to income-based repayment provisions and are in deferment due to a borrower's lack of full-time employment.

Limits these interest-free deferment periods to those occurring on or after this Act's enactment and covering no more than three years of full-time unemployment.

What's happening now September 26, 2012

Referred to the Subcommittee on Higher Education and Workforce Training.

Committees of jurisdiction 2