Senate Bill 968
116th Congress(2019-2020)
Protect Student Borrowers Act of 2019
Introduced
Introduced in Senate on Apr 1, 2019
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
968
Congress
116
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.
No Senate votes have been held for this bill.
Summary
Protect Student Borrowers Act of 2019
This bill requires institutions of higher education (IHEs) to assume some of the risk of default for federal student loans.
IHEs must remit risk-sharing payments, based on the amount of defaulted student loans, if 33% or more of their enrolled students have student loans. The Department of Education may reduce or waive the payments under certain circumstances.
The proceeds from the payments must be used for reducing student loan debt, delinquency, or default and increasing Pell grants at IHEs with low default rates that enroll a high percentage of Pell Grant recipients.
April 1, 2019
04/01/2019
Read twice and referred to the Committee on Health, Education, Labor, and Pensions. (Sponsor introductory remarks on measure: CR S2120-2121)
04/01/2019
Introduced in Senate
Public Record
Record Updated
Nov 1, 2022 6:47:25 PM