HIGHER ED Act

Summary

Helping Individuals Get a Higher Education while Reducing Education Debt Act or the HIGHER ED Act This bill makes various changes to student loan forgiveness and loan repayment programs. First, the bill authorizes graduate and professional students to receive subsidized Stafford Loans. These students have been ineligible to receive subsidized Stafford Loans since July 1, 2012. Next, the bill allows student loans to be discharged in bankruptcy proceedings. The bill also establishes refinancing programs for student loans. It allows certain borrowers to refinance their federal student loans down to lower interest rates, and it creates the Federal Direct Refinanced Private Loan to allow certain borrowers to refinance their private student loans. Additionally, the bill revises the Public Service Loan Forgiveness (PSLF) program, such as by (1) allowing certain part-time faculty to participate in the PSLF program, (2) directing the Department of Education (ED) to annually cancel 10% of the amount a borrower owes after satisfying 12 qualifying monthly payments, (3) revising the process for certification of employment, and (4) requiring ED to establish a dispute resolution process. Further, the bill revises federal student loan repayment programs, including by (1) replacing existing student loan repayment plans with one income-based repayment plan and one standard 10-year repayment plan, and (2) allowing existing borrowers to lower their payments by switching to these new plans. It also establishes a process for ED to enroll a delinquent borrower in a new repayment plan. The bill also requires ED to provide certain notifications to borrowers.

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

Timeline

1. 19 January 2022

   Introduced

   Referred to the Committee on Education and Labor, and in addition to the Committee on the Judiciary, 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. 19 January 2022

   Introduced

   Introduced in House

   Source: IntroReferral

3. 19 January 2022

   Introduced

   Introduced in House

   Source: IntroReferral

4. 1 November 2022

   Referred

   Referred to the Subcommittee on Antitrust, Commercial, and Administrative Law.

   Source: Committee

Votes

No vote records are attached yet.

Versions

• Introduced in House · 19 January 2022 · Download file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 19 January 2022

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 19 January 2022

  ViewDownloadOpen at official source

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• Introduced in House

  summary · EN · 19 January 2022

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  Vertaal document

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Sponsors

• Rep. DeFazio, Peter A. [D-OR-4] · D · Sponsor
• · hsju00 · Standing
• · hsed00 · Standing

Related records

• related to → To amend title 11 of the United States Code to make debts for student loans dischargeable.
• related to → POST GRAD Act
• related to → Coronavirus Emergency Student Loan Refinancing Act
• related to → Adjunct Faculty Loan Fairness Act of 2021
• related to → Student Loan Repayment Freedom Act