House Bill 6397
116th Congress(2019-2020)
Coronavirus Emergency Student Loan Refinancing Act
Introduced
Introduced in House on Mar 26, 2020
Origin Chamber
House
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
6397
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 House votes have been held for this bill.
Summary
Coronavirus Emergency Student Loan Refinancing Act
This bill establishes refinancing programs for federal and private student loans.
Specifically, the bill establishes a program that allows qualified borrowers to refinance their federal student loans down to lower interest rates. Such 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 creates the Federal Direct Refinanced Private Loan as a new type of loan. Such loans allow qualified borrowers to refinance their private education loans.
March 26, 2020
03/26/2020
Referred to the House Committee on Education and Labor.
03/26/2020
Introduced in House
Public Record
Record Updated
Feb 9, 2022 2:28:14 AM