So it costs allows eligible government consumers so you’re able to refinance its government fund whenever rates is less
Recruit: Rep. Bonamici [D-OR]
Cosponsors: 7 (7D; 0R)
Delivered:
NASFAA Summary & Studies: This bill would require the Secretary of Education to create an outreach program to borrowers who will be entering repayment after the payment pause created by the COVID-19 pandemic, slated to begin would start at least 60 days prior to the restart of payments, and would include a minimum of 6 reach out attempts, including information like, when the borrower's normal payment will begin and that the borrower may be eligible to enroll in an IDR plan. Special priority for notifications would be given to borrowers who had in the past five years missed a payment in the first three months of entering repayment, or had been in a non-administrative forbearance or deferment.
S.2984 - State-Built Student loan Feel Act
Sponsor: Sen. Murkowski [R-AK]
Cosponsors: 4
Introduced:
NASFAA Summation & Study: This bill would eliminate penalties and deterrents that prevent institutions from informing students about student loans offered by non-profit state agency lenders.
S.2976 - Education loan Repayment Freedom Act
Sponsor: Sen. Murkowski [R-AK]
Cosponsors: 2
Introduced:
NASFAA Realization & Studies: This bill would allow borrowers to switch between different repayment plans based on their situation without first being put into a forbearance or standard repayment plan while the transfer is made.
H.R.5126 - Combating Predatory Financing inside Advanced schooling Work from 2021
Sponsor: Rep. Van Duyne [R-TX]
Cosponsors: 0
Introduced:
NASFAA Conclusion & Analysis: This bill would now include PLUS loans made to graduate students and parents in the calculation for an institution's Cohort Default Rate (CDR) so that any default in these loans is now included in the calculation. (more…)