H.R. 3560 115th Congress House

GPA Act

Official title: To amend the Higher Education Act of 1965 to give borrowers an option to extend the grace period prior to the beginning of the repayment period, and for other purposes.

Introduced: July 28, 2017 Introduced by: Pete Aguilar Democratic · California See on congress.gov

Education Government lending and loan guaranteesHigher educationInterest, dividends, interest ratesStudent aid and college costs

Everywhere this bill has been 2 steps

Introduced

In committee

Reported out

Passed House

Passed Senate

To President

Became law

Jul 28, 2017

Introduced in House

Jul 28, 2017

Referred to the House Committee on Education and the Workforce.

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Latest action July 28, 2017

Referred to the House Committee on Education and the Workforce.

Plain-English summary Congressional Research Service

Grace Period Alleviation Act or the GPA Act

This bill amends the Higher Education Act of 1965 to allow a borrower of a Federal Direct Stafford Loan (whether subsidized or unsubsidized) to elect a one-year grace period before beginning repayment on the loan.

The Department of Education, through a loan modification process, must pay to each borrower who received a Federal Direct Stafford Loan for which the first disbursement was made between July 1, 2012, and July 1, 2014, an amount equal to the amount of interest that accrued on the loan prior to the beginning of the repayment period.

Bill text 1 version