S 2028
115th Congress
Senate
Education
Congressional oversight
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Government Accountability Office (GAO)
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Higher education
Student aid and college costs
Protect Student Borrowers Act of 2017
Introduced: October 26, 2017
Introduced by:
Reed, Jack
Democratic
· Rhode Island
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Oct 26, 2017
Read twice and referred to the Committee on Health, Education, Labor, and Pensions. (Sponsor introductory remarks on measure: CR S6855)
Oct 26, 2017
Introduced in Senate
Plain-English summary
Protect Student Borrowers Act of 2017
This bill amends the Higher Education Act of 1965 to require institutions of higher education (IHEs) participating in the William D. Ford Federal Direct Loan program to assume some of the risk of default for student loans under the program.
For any fiscal year in which at least 33% of the IHE's student body is participating in the Direct Loan program, the IHE must remit a risk-sharing payment that is based on the amount of its defaulted Direct Loans.
What's happening now
Read twice and referred to the Committee on Health, Education, Labor, and Pensions. (Sponsor introductory remarks on measure: CR S6855)
Committees of jurisdiction
1