HR 5617
114th Congress
House
Taxation
Government lending and loan guarantees
Higher education
Income tax exclusion
Student aid and college costs
Underwater Student Borrowers Act
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jul 1, 2016
Referred to the House Committee on Ways and Means.
Jul 1, 2016
Introduced in House
Plain-English summary
Underwater Student Borrowers Act
This bill amends the Internal Revenue Code, with respect to the exclusion from gross income of income attributable to the discharge of student loan indebtedness, to: (1) include indebtedness discharged due to income-contingent and income-based repayment plans, the death or disability of the borrower, or the closing of an educational institution; and (2) revise the definition of "student loan" to mean a loan made by any lender, including a loan for the refinancing of an existing loan.
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1