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United States · Bill · HR

H.R. 6250 (114th)

RISE Act

referredUnited States· United States Congress· EN

Introduced

28 September 2016

Last action

28 September 2016 · Introduced

Status

Referred to the House Committee on Education and the Workforce.

Sponsors

Sen. Gallego, Ruben [D-AZ], Rep. Swalwell, Eric [D-CA-15]

Subjects

Education

Source updated

12 August 2025

Education

Official sourceDownload fileView documentsShare

Summary

Relief and Investment for Student Entrepreneurs Act or the RISE Act This bill amends the Higher Education Act of 1965 by allowing a qualified entrepreneur with a loan under the William D. Ford Federal Direct Loan program to defer loan payments for up to 3 years. A "qualified entrepreneur" is a borrower who: (1) has received a degree during the 10-year period before the date of the deferment, (2) has at least one registered business entity, (3) has raised capital of not less than $30,000 for such business entity, and (4) has an outstanding loan balance of not less than $5,000. The Department of Education may cancel up to $17,500 of federal direct and unsubsidized Stafford loans for a borrower who: (1) has operated a small business located in a historically underutilized business zone for at least three years, and (2) is not currently in default on the loan.

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

Timeline

  1. 28 September 2016

    Introduced

    Introduced in House

    Source: IntroReferral

  2. 28 September 2016

    Introduced

    Introduced in House

    Source: IntroReferral

  3. 28 September 2016

    Introduced

    Referred to the House Committee on Education and the Workforce.

    Source: IntroReferral

Votes

No vote records are attached yet.

Versions

Documents

3 official files

Introduced in House (text)

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  • Introduced in House (text)

    Introduced in House · EN · 28 September 2016

    ViewDownloadOpen at official source

  • Introduced in House (PDF)

    Introduced in House · EN · 28 September 2016

    ViewDownloadOpen at official source

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  • Introduced in House

    summary · EN · 28 September 2016

    Open at official source

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Sponsors

Related records

Sources

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