Bill Sponsor
House Bill 1586
117th Congress(2021-2022)
Student Loan Reform Act
Introduced
Introduced
Introduced in House on Mar 3, 2021
Overview
Text
Introduced
Mar 3, 2021
Latest Action
Mar 3, 2021
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
1586
Congress
117
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
House Votes (0)
Senate Votes (0)
No House votes have been held for this bill.
Summary

Student Loan Reform Act

This bill requires the Department of Education to carry out a program that allows participating institutions of higher education (IHEs) to cosign certain Federal Direct Loans made to its enrolled students.

An IHE that participates in the program assumes the obligation to repay the outstanding balance of principal and interest due on the loan over 10 years if the borrower defaults on the loan.

Text (1)
March 3, 2021
Actions (2)
03/03/2021
Referred to the House Committee on Education and Labor.
03/03/2021
Introduced in House
Public Record
Record Updated
Jan 11, 2023 1:48:27 PM