United States · Bill · HR
H.R. 8700 (117th)
Simplifying Student Loans Act
Introduced
9 August 2022
Last action
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Status
Referred to the House Committee on Education and Labor.
Sponsors
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Subjects
Discovery layer
Source updated
21 July 2025
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. The Department of Education must offer all borrowers a choice between the two new plans and allow borrowers of loans made prior to July 1, 2023, the option of continuing repayment under their original plan or electing to repay under one of the new plans. The bill also establishes a 1% interest rate on federal student loans made to borrowers on or after July 1, 2023.
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Documents
3 official files
Introduced in House (text)
Introduced in House (text)
Introduced in House · EN · 9 August 2022
Introduced in House (PDF)
Introduced in House · EN · 9 August 2022
Introduced in House
summary · EN · 9 August 2022
Sponsors
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Related records
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Sources
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- Official source: https://www.congress.gov/bill/117th-congress/house-bill/8700
- Open data entity: https://api.congress.gov/v3/bill/117/hr/8700