United States · Bill · HR
H.R. 1143 (117th)
LOAN Act
Introduced
18 February 2021
Last action
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Status
Referred to the Subcommittee on Antitrust, Commercial, and Administrative Law.
Sponsors
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Subjects
Discovery layer
Source updated
3 January 2025
Summary
Lenders Offer Assistance Now Act or the LOAN Act This bill requires the discharge of a private education loan in the event of the student borrower's disability. Such a discharge is not considered income for tax or other purposes. Additionally, the bill prohibits the automatic default of a private education loan due to the disability of a loan cosigner. Furthermore, the bill generally permits the discharge of student loans in bankruptcy. Under current law, student loans are not dischargeable in bankruptcy unless repayment would be an undue hardship to the debtor and the debtor's dependents.
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Documents
3 official files
Introduced in House (text)
Introduced in House (text)
Introduced in House · EN · 18 February 2021
Introduced in House (PDF)
Introduced in House · EN · 18 February 2021
Introduced in House
summary · EN · 18 February 2021
Sponsors
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Sources
PoliticalRepo is an index and interpretation layer, not the authoritative legal source.
- Official source: https://www.congress.gov/bill/117th-congress/house-bill/1143
- Open data entity: https://api.congress.gov/v3/bill/117/hr/1143