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Politicians
Bills
House Bill 7294
116th Congress(2019-2020)
COVID–19 Perkins Loan Relief Act
Introduced
Introduced
Introduced in House on Jun 22, 2020
Overview
Text
Introduced
Jun 22, 2020
Latest Action
Jun 22, 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
7294
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.
Sponsorship by Party
Democrat
Katie Porter
California
Democrat
Lori Trahan
Massachusetts
Democrat
Susie Lee
Nevada
Republican
Elise Stefanik
New York
Democrat
Alma Adams
North Carolina
House Votes (0)
Senate Votes (0)
No House votes have been held for this bill.
Summary

COVID-19 Perkins Loan Relief Act

This bill suspends payments and interest on Federal Perkins Loans through September 30, 2020. (Currently, payments and interest are suspended on certain Federal Direct Loans and Federal Family Education Loans through this period.)

Specifically, the Department of Education (ED) must require holders of Federal Perkins Loans to (1) suspend the accrual of interest on such loans until September 30, 2020, and (2) confirm to ED that no interest has accrued on such loans as of March 13, 2020. ED must make suspended interest payments to holders of such loans on behalf of borrowers.

Further, ED must require institutions of higher education to (1) suspend all payments due from borrowers through September 30, 2020; (2) suspend all involuntary collections; (3) notify borrowers, within 15 days, that their loan payments have been suspended and interest has been waived; and (4) carry out a program, beginning on August 1, 2020, to provide not fewer than six notices to borrowers that normal payment obligations will resume.

Additionally, ED must

  • deem each month for which a loan payment was suspended as if the borrower of the loan had made a payment for the purpose of any authorized loan forgiveness program or loan rehabilitation program,
  • ensure that any suspended payment on such loan is treated as a regularly scheduled payment made by a borrower for the purpose of reporting information about the loan to a consumer reporting agency, and
  • suspend involuntary collections related to such loans.
Text (1)
Introduced in House
June 22, 2020
Actions (2)
06/22/2020
Referred to the Committee on Education and Labor, and in addition to the Committees on the Judiciary, and Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
06/22/2020
Introduced in House
Public Record
Record Updated
Feb 8, 2022 11:16:51 PM
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