Bill SponsorBILLSPONSOR
Bill Sponsor
Politicians
Bills
Senate Bill 1521
115th Congress(2017-2018)
Student Loan Relief Act of 2017
Introduced
Introduced
Introduced in Senate on Jul 10, 2017
Overview
Text
Introduced
Jul 10, 2017
Latest Action
Jul 10, 2017
Origin Chamber
Senate
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
1521
Congress
115
Policy Area
Education
Education
Primary focus of measure is elementary, secondary, or higher education including special education and matters of academic performance, school administration, teaching, educational costs, and student aid.
Sponsorship by Party
Democrat
Bill Nelson
Florida
Senate Votes (0)
House Votes (0)
No Senate votes have been held for this bill.
Summary

Student Loan Relief Act of 2017

This bill amends title IV (Student Assistance) of the Higher Education Act of 1965 to cap the interest rate for new Federal Direct Stafford Loans and Federal Direct Unsubsidized Stafford Loans that are disbursement on or after July 1, 2018. Specifically, the bill caps the rates for: (1) undergraduate students at 4%, (2) graduate students at 5%, and (3) parents of undergraduates at 6%.

In addition, the bill eliminates loan origination fees charged to students to process their loans.

Finally, the bill establishes a program that allows eligible students with existing loans under the Federal Direct Loan program (a Federal Direct Stafford Loan, a Federal Direct Unsubsidized Stafford Loan, a Federal Direct PLUS Loan, or a Federal Direct Consolidation Loan) to refinance their loans down to the lower rates offered to new federal borrowers in the 2017-2018 school year. The program must also allow students with loans under the Federal Family Education Loans program to refinance them as federal direct loans.

Text (1)
Introduced in Senate
July 10, 2017
Related Bills (4)
Oct 10, 2017
Introduced in House
29
Sponsorship
House Bill 4001
Student Loan Refinancing and Recalculation Act
Introduced
Type
Related Bill
Related Bill
A related bill may be a companion measure, an identical bill, a procedurally-related measure, or one with text similarities. Bill relationships are identified by the House, the Senate, or CRS, and refer only to same-Congress measures.
Identified By
CRS
Jul 25, 2017
Introduced in House
3
Sponsorship
House Bill 3390
Student Loan Relief Act of 2017
Introduced
Type
Identical Bill
Identical Bill
A bill that is word-for-word identical to another bill. Bills are characterized as identical to each other at the introduced stage only, even though a later (e.g., reported or passed) version of a bill might meet the same criteria for text similarity. Companion measures, procedurally-related measures, and legislation with text similarities are other related bill types.
Identified By
CRS
May 17, 2017
Introduced in House
138
Sponsorship
House Bill 2477
Bank on Students Emergency Loan Refinancing Act
Introduced
Type
Related Bill
Related Bill
A related bill may be a companion measure, an identical bill, a procedurally-related measure, or one with text similarities. Bill relationships are identified by the House, the Senate, or CRS, and refer only to same-Congress measures.
Identified By
CRS
May 17, 2017
Introduced in Senate
40
Sponsorship
Senate Bill 1162
Bank on Students Emergency Loan Refinancing Act
Introduced
Type
Related Bill
Related Bill
A related bill may be a companion measure, an identical bill, a procedurally-related measure, or one with text similarities. Bill relationships are identified by the House, the Senate, or CRS, and refer only to same-Congress measures.
Identified By
CRS
Actions (2)
07/10/2017
Read twice and referred to the Committee on Health, Education, Labor, and Pensions. (Sponsor introductory remarks on measure: CR S3886-3887)
07/10/2017
Introduced in Senate
Public Record
Record Updated
Jan 11, 2023 1:37:08 PM
Copyright © 2024 Civic Bits LLC
Privacy Policy
Terms of Service
What's New
About