HR 4670
116th Congress
House
Education
Administrative law and regulatory procedures
Department of Education
Education of the disadvantaged
Government lending and loan guarantees
Higher education
Interest, dividends, interest rates
Student aid and college costs
Simplifying Student Loans Act
Introduced: October 11, 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
Oct 11, 2019
Referred to the House Committee on Education and Labor.
Oct 11, 2019
Introduced in House
Plain-English summary
Simplifying Student Loans Act
This bill phases out existing repayment plans for federal student loans and replaces them with one fixed repayment plan and one income-based repayment plan.
Under current law, a borrower may choose among eight plans for student loan repayment, such as standard repayment, extended repayment, and income-contingent repayment.
The Department of Education must offer all borrowers a choice between the two new plans and allow borrowers of loans made prior to a date certain the option of continuing repayment under their original plan or electing to repay under one of the new plans.
What's happening now
Referred to the House Committee on Education and Labor.
Committees of jurisdiction
1