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HR 2848 115th Congress House

RISE Act

Official title: To amend the Higher Education Act of 1965 to allow qualified entrepreneurs to temporarily defer Federal student loan payments after starting a new business.

Introduced: June 8, 2017 Introduced by: Gallego, Ruben Democratic · Arizona See on congress.gov
Education Economic developmentGovernment lending and loan guaranteesHigher educationSmall businessStudent aid and college costs
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This bill died when the 115th Congress ended
It never became law before the 115th Congress (2017–2018) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jun 8, 2017
Referred to the House Committee on Education and the Workforce.
Jun 8, 2017
Introduced in House
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 Latest action June 8, 2017

Referred to the House Committee on Education and the Workforce.

 Plain-English summary Congressional Research Service

Relief and Investment for Student Entrepreneurs Act or the RISE Act

This bill amends the Higher Education Act of 1965 to allow a qualified entrepreneur with a loan under the William D. Ford Federal Direct Loan program to defer loan payments for up to 3 years. A "qualified entrepreneur" is a borrower who: (1) has received a degree during the 10-year period before the date of the deferment, (2) has at least one registered business entity, (3) has raised capital of not less than $30,000 for such business entity, and (4) has an outstanding loan balance of not less than $5,000.

The Department of Education may cancel up to $17,500 of federal direct and unsubsidized Stafford loans for a borrower who: (1) has operated a small business located in a historically underutilized business zone for at least three years, and (2) is not currently in default on the loan.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
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APA
U.S. Congress. (2026). H.R. 2848: RISE Act. 115th Congress. Open America. https://openamerica.io/bill/115-HR-2848/
MLA
"H.R. 2848: RISE Act." 115th Congress, 2026, Open America, https://openamerica.io/bill/115-HR-2848/.
Bluebook (legal)
H.R. 2848, 115th Cong. (2026), https://openamerica.io/bill/115-HR-2848/.
Markdown link
[H.R. 2848: RISE Act](https://openamerica.io/bill/115-HR-2848/)
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