HR 1586
117th Congress
House
Education
Debt collection
Government information and archives
Government lending and loan guarantees
Higher education
Interest, dividends, interest rates
School administration
Student aid and college costs
Student Loan Reform Act
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Mar 3, 2021
Referred to the House Committee on Education and Labor.
Mar 3, 2021
Introduced in House
Plain-English summary
Student Loan Reform Act
This bill requires the Department of Education to carry out a program that allows participating institutions of higher education (IHEs) to cosign certain Federal Direct Loans made to its enrolled students.
An IHE that participates in the program assumes the obligation to repay the outstanding balance of principal and interest due on the loan over 10 years if the borrower defaults on the loan.
What's happening now
Referred to the House Committee on Education and Labor.
Committees of jurisdiction
1
Cosponsors
1