CLEAR Act

Summary

Clarity in Lending for Education and Repayment Act or the CLEAR Act This bill amends title IV (Student Assistance) of the Higher Education Act of 1965 to revise federal student loan repayment plan options for new borrowers of Direct Loan (DL) program loans issued on or after July 1, 2016. Specifically, the bill terminates several existing repayment plan options, including the graduated, extended, income-contingent, and income-based repayment plans. It retains the existing standard repayment plan and establishes a new revised pay-as-you-earn repayment plan that, among other things, caps monthly payments at 10% of discretionary income and sets a 20-year maximum repayment period. A new borrower of a DL program subsidized Stafford, unsubsidized Stafford, PLUS, or consolidation loan issued on or after July 1, 2016, must enroll in the standard or revised pay-as you earn repayment plan. The Department of Education must consult with students, family members, institutions of higher education, and other experts to improve the required disclosures with respect to federal Direct Loans. Finally, the bill amends the Internal Revenue Code to exclude from an individual's gross income the amount of federal student loans discharged due to the death or disability of the student.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 29 February 2016

   Introduced

   Referred to the Committee on Education and the Workforce, and in addition to the Committee on 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.

   Source: IntroReferral

2. 29 February 2016

   Introduced

   Referred to the Committee on Education and the Workforce, and in addition to the Committee on 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.

   Source: IntroReferral

3. 29 February 2016

   Introduced

   Introduced in House

   Source: IntroReferral

4. 29 February 2016

   Introduced

   Introduced in House

   Source: IntroReferral

5. 19 September 2016

   Referred

   Referred to the Subcommittee on Higher Education and Workforce Training.

   Source: Committee

Votes

No vote records are attached yet.

Versions

• Introduced in House · 29 February 2016 · Download file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 29 February 2016

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 29 February 2016

  ViewDownloadOpen at official source

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• Introduced in House

  summary · EN · 29 February 2016

  Open at official source

  Leesvertaling

  Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Rep. Takai, Mark [D-HI-1] · D · Sponsor
• Rep. Chu, Judy [D-CA-28] · D · Sponsor
• Rep. Honda, Michael M. [D-CA-15] · D · Sponsor
• Del. Norton, Eleanor Holmes [D-DC-At Large] · D · Sponsor
• ROBERT BRADY · D · Sponsor
• Rep. Clarke, Yvette D. [D-NY-9] · D · Sponsor
• Rep. Boyle, Brendan F. [D-PA-2] · D · Sponsor
• Rep. Moore, Gwen [D-WI-4] · D · Sponsor
• Rep. Pallone, Frank [D-NJ-6] · D · Sponsor
• Rep. Lee, Barbara [D-CA-12] · D · Sponsor
• Rep. Lieu, Ted [D-CA-36] · D · Sponsor
• Rep. Watson Coleman, Bonnie [D-NJ-12] · D · Sponsor
• Rep. Nolan, Richard M. [D-MN-8] · D · Sponsor
• Rep. Schakowsky, Janice D. [D-IL-9] · D · Sponsor
• Rep. Rangel, Charles B. [D-NY-15] · D · Sponsor
• Rep. Jackson Lee, Sheila [D-TX-18] · D · Sponsor
• Rep. Grijalva, Raúl M. [D-AZ-7] · D · Cosponsor
• Rep. Takano, Mark [D-CA-39] · D · Cosponsor
• Rep. Larsen, Rick [D-WA-2] · D · Cosponsor
• Rep. DeSaulnier, Mark [D-CA-10] · D · Cosponsor
• · hsed00 · Standing
• · hswm00 · Standing

Related records

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