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Parent PLUS Loan Improvement Act of 2019

Introduced: June 19, 2019 See on congress.gov

Everywhere this bill has been 2 steps

Introduced

In committee

Reported out

Passed House

Passed Senate

To President

Became law

Jun 19, 2019

Referred to the House Committee on Education and Labor.

Jun 19, 2019

Introduced in House

Plain-English summary Congressional Research Service

Parent PLUS Loan Improvement Act of 2019

This bill modifies requirements concerning the applicable terms and conditions of Federal Direct PLUS Loans made by parent borrowers (i.e., parent PLUS loans) on behalf of their dependent college students.

Specifically, it reduces the interest rate and eliminates the origination fee for a parent PLUS loan disbursed on or after July 1, 2019.

The Department of Education must ensure, prior to disbursement, that parent PLUS loan borrowers receive counseling that includes comprehensive information on the terms and conditions of the loans and the responsibilities of the borrowers.

The bill makes parent PLUS loans eligible for the income-contingent and income-based repayment plans. Additionally, it makes consolidation loans that repay parent PLUS loans eligible for the income-based repayment plans.

What's happening now June 19, 2019

Referred to the House Committee on Education and Labor.

Committees of jurisdiction 1