HR 5084
117th Congress
House
Education
Education programs funding
Government information and archives
Government lending and loan guarantees
Higher education
Interest, dividends, interest rates
Student aid and college costs
Student Loan Refinancing Act
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Aug 23, 2021
Referred to the House Committee on Education and Labor.
Aug 23, 2021
Introduced in House
Plain-English summary
Student Loan Refinancing Act
This bill establishes a refinancing program for federal student loans.
Specifically, the Department of Education (ED) must, within 30 days, establish a program that allows borrowers to refinance their federal student loans down to lower interest rates. The refinanced interest rates are (1) calculated based on the type of student loan (e.g., Stafford), and (2) fixed for the period of the loan.
In addition, the bill requires ED to coordinate with the Consumer Financial Protection Bureau to alert borrowers of their program eligibility.
What's happening now
Referred to the House Committee on Education and Labor.
Committees of jurisdiction
1
Cosponsors
1