HR 4001
115th Congress
House
Education
Government lending and loan guarantees
Higher education
Interest, dividends, interest rates
Medical education
Student aid and college costs
User charges and fees
Student Loan Refinancing and Recalculation Act
Introduced: October 10, 2017
Introduced by:
Garamendi, John
Democratic
· California
See on congress.gov
Everywhere this bill has been
3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Oct 10, 2017
Referred to the House Committee on Education and the Workforce.
Oct 10, 2017
Introduced in House
Oct 10, 2017
Sponsor introductory remarks on measure. (CR H7906)
Plain-English summary
Student Loan Refinancing and Recalculation Act
This bill amends the Higher Education Act of 1965 to direct the Department of Education to establish a program to refinance the outstanding principal, interest, and late charges on Federal Direct Loans (DLs) and Federal Family Education Loans (FFELs) in order to give a borrower a fixed interest rate equal to the 10-year Treasury note rate plus one percentage point.
In addition, the bill allows borrowers in medical or dental internship or residency programs to defer student loan payments until the completion of their programs.
What's happening now
Referred to the House Committee on Education and the Workforce.
Committees of jurisdiction
1