S 5065
117th Congress
Senate
Education
Protect Student Borrowers Act of 2022
Introduced: September 29, 2022
Introduced by:
Reed, Jack
Democratic
· Rhode Island
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Sep 29, 2022
Read twice and referred to the Committee on Health, Education, Labor, and Pensions. (Sponsor introductory remarks on measure: CR S5553-5554)
Sep 29, 2022
Introduced in Senate
Plain-English summary
Protect Student Borrowers Act of 2022
This bill requires institutions of higher education (IHEs) participating in the William D. Ford Federal Direct Loan program to accept specified risk-sharing requirements for defaulted student loans, which shall include requiring certain IHEs to make payments to address the risk of such defaults. The bill also establishes in the Treasury a separate account for the deposit of such risk-sharing payments.
What's happening now
Read twice and referred to the Committee on Health, Education, Labor, and Pensions. (Sponsor introductory remarks on measure: CR S5553-5554)
Committees of jurisdiction
1