United States · Bill · HR
H.R. 7625 (116th)
Ryan Frascone Memorial Student Loan Relief Act of 2020
Introduced
16 July 2020
Last action
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Status
Referred to the House Committee on Financial Services.
Sponsors
—
Subjects
Discovery layer
Source updated
3 January 2025
Summary
Ryan Frascone Memorial Student Loan Relief Act of 2020 This bill retroactively applies certain borrower protections related to cosigners of private student loans. Specifically, all private student loan agreements must (1) prohibit a creditor from declaring a default or accelerating the debt of a private student loan on the sole basis of the death or bankruptcy of a cosigner to such a loan, and (2) require loan holders to release cosigners from any obligation upon the death of the student borrower. Under current law, these protections apply only to private student loan agreements entered into on or after November 20, 2018.
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Documents
3 official files
Introduced in House (text)
Introduced in House (text)
Introduced in House · EN · 16 July 2020
Introduced in House (PDF)
Introduced in House · EN · 16 July 2020
Introduced in House
summary · EN · 16 July 2020
Sponsors
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Sources
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- Official source: https://www.congress.gov/bill/116th-congress/house-bill/7625
- Open data entity: https://api.congress.gov/v3/bill/116/hr/7625