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United States · Bill · HR

H.R. 4862 (119th)

LOAN Act

referredUnited States· United States Congress· EN

Introduced

1 August 2025

Last action

1 August 2025 · Introduced

Status

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

Sponsors

Rep. Scott, Robert C. "Bobby" [D-VA-3], Rep. Subramanyam, Suhas [D-VA-10], Rep. Underwood, Lauren [D-IL-14], Rep. Moore, Gwen [D-WI-4], Rep. Thanedar, Shri [D-MI-13], Rep. McClellan, Jennifer L. [D-VA-4], Rep. Carson, André [D-IN-7], Rep. Davis, Danny K. [D-IL-7], Rep. Ansari, Yassamin [D-AZ-3], Rep. Fields, Cleo [D-LA-6], Rep. Garamendi, John [D-CA-8], Rep. Bonamici, Suzanne [D-OR-1], Rep. Williams, Nikema [D-GA-5], Rep. Castro, Joaquin [D-TX-20], Rep. Wilson, Frederica S. [D-FL-24], Del. Norton, Eleanor Holmes [D-DC-At Large], Rep. Tonko, Paul [D-NY-20], Rep. Kennedy, Timothy M. [D-NY-26], Rep. Evans, Dwight [D-PA-3], Rep. Chu, Judy [D-CA-28], Rep. Walkinshaw, James R. [D-VA-11], Rep. Grijalva, Adelita S. [D-AZ-7], Rep. Adams, Alma S. [D-NC-12], Rep. Green, Al [D-TX-9], Rep. Simon, Lateefah [D-CA-12], Rep. Lynch, Stephen F. [D-MA-8], Rep. DeSaulnier, Mark [D-CA-10], Rep. Figures, Shomari [D-AL-2]

Subjects

Education

Source updated

21 July 2026

Education

Official sourceDownload fileView documentsShare

Summary

Lowering Obstacles to Achievement Now Act or the LOAN Act This bill revises federal student aid programs, including the Federal Pell Grant program and the Public Service Loan Forgiveness (PSLF) program. It also repeals the education provisions that were enacted under P.L. 119-21 (commonly known as the One Big Beautiful Bill Act). Among other provisions, the bill revises the Federal Pell Grant program by (1) providing funding to increase the maximum award for each eligible student, and (2) allowing income-eligible graduate students to utilize their remaining Pell Grant eligibility toward their first graduate degree. Changes to the PSLF program include (1) reducing the number of monthly loan payments required for loan forgiveness, and (2) removing the requirement that a borrower must be employed in a public service job at the time of forgiveness. The bill makes Dreamer students (i.e., students who have been granted Deferred Action for Childhood Arrivals status and who entered the United States before the age of 18) who meet certain educational criteria eligible for federal financial aid. The bill also (1) establishes refinancing programs for federal and private student loans; (2) creates a new income-driven repayment plan; and (3) repeals origination fees for Direct Subsidized Loans, Direct Unsubsidized Loans, and Direct PLUS Loans. The bill repeals the education provisions that were enacted under P.L. 119-21. For example, the act addressed the amount of federal financial aid available to students by changing the mix and availability of student loans. (For more information, see CRS Report R48727 .)

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

Timeline

  1. 1 August 2025

    Introduced

    Referred to the Committee on Education and Workforce, and in addition to the Committee on the Budget, 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. 1 August 2025

    Introduced

    Introduced in House

    Source: IntroReferral

  3. 1 August 2025

    Introduced

    Introduced in House

    Source: IntroReferral

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

2 official files

Introduced in House

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  • Introduced in House

    Introduced in House · EN · 1 August 2025

    ViewDownloadOpen at official source

  • Introduced in House

    summary · EN · 1 August 2025

    Open at official source

    Leesvertaling

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

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

Sponsors

Related records

Sources

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