Simplifying Student Loans Act

Summary

Simplifying Student Loans Act This bill phases out existing repayment plans for federal student loans and replaces them with one fixed repayment plan and one income-based repayment plan. Under current law, a borrower may choose among eight plans for student loan repayment, such as standard repayment, extended repayment, and income-contingent repayment. The Department of Education must offer all borrowers a choice between the two new plans and allow borrowers of loans made prior to a date certain the option of continuing repayment under their original plan or electing to repay under one of the new plans.

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Timeline

1. 11 October 2019

   Introduced

   Referred to the House Committee on Education and Labor.

   Source: IntroReferral

2. 11 October 2019

   Introduced

   Introduced in House

   Source: IntroReferral

3. 11 October 2019

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in House · 11 October 2019 · Official file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 11 October 2019

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 11 October 2019

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 11 October 2019

  Open at official source

Sponsors

• Susan Wild · D · Sponsor
• Jahana Hayes · D · Sponsor
• LUCILLE ROYBAL-ALLARD · D · Cosponsor
• Darren Soto · D · Cosponsor
• · hsed00 · Standing

Related records

• related to ← College Affordability Act