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H.R. 8700 117th Congress House

Simplifying Student Loans Act

Official title: To amend the Higher Education Act of 1965 to establish an income-based repayment for new loans on and after July 1, 2023, and for borrowers who enter income-ba… Show full official titleShow less

Official title: To amend the Higher Education Act of 1965 to establish an income-based repayment for new loans on and after July 1, 2023, and for borrowers who enter income-based repayment after June 30, 2023, and for other purposes.

Introduced: August 9, 2022 See on congress.gov
Education
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This bill died when the 117th Congress ended
It never became law before the 117th Congress (2021–2022) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Aug 9, 2022
Referred to the House Committee on Education and Labor.
Aug 9, 2022
Introduced in House
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 Latest action August 9, 2022

Referred to the House Committee on Education and Labor.

 Plain-English summary Congressional Research Service

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.

The Department of Education must offer all borrowers a choice between the two new plans and allow borrowers of loans made prior to July 1, 2023, the option of continuing repayment under their original plan or electing to repay under one of the new plans.

The bill also establishes a 1% interest rate on federal student loans made to borrowers on or after July 1, 2023.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
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APA
U.S. Congress. (2026). H.R. 8700: Simplifying Student Loans Act. 117th Congress. Open America. https://openamerica.io/bill/117-HR-8700/
MLA
"H.R. 8700: Simplifying Student Loans Act." 117th Congress, 2026, Open America, https://openamerica.io/bill/117-HR-8700/.
Bluebook (legal)
H.R. 8700, 117th Cong. (2026), https://openamerica.io/bill/117-HR-8700/.
Markdown link
[H.R. 8700: Simplifying Student Loans Act](https://openamerica.io/bill/117-HR-8700/)
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