Sponsor: Rep. Chu, Judy D-CA
Cosponsors: 16 (0 R; 16 D)
NASFAA Analysis & Coverage: This bill would reinstate subsidized loan eligibility for graduate and expert pupils.
H.R. 3353 — Parent PLUS Loan Improvement Act of 2019
Sponsor: Rep. Fudge, Marcia L. D-OH
Cosponsors: 15 (1 R; 14 D)
NASFAA Analysis & Coverage: This bill would expand income-contingent and income-based payment plan eligibility to Parent PLUS loans.
S. 1845 — Whether Or Not It’s Sufficient For the Banks, It’s Adequate For Students Act
Sponsor: Sen. Merkley, Jeff D-OR
Cosponsors: 2 (0 R; 2 D)
NASFAA research & Coverage: This bill would enable pupils to refinance federal loans in the same rates of interest because the loans banking institutions get through the government that is federal. The interest that is refinanced could be fixed when it comes to amount of the mortgage.
H.R. 3257 — Education Loan Fairness Act
Sponsor: Rep. Bass, Karen D-CA
Cosponsors: 20 (0 R; 20 D)
NASFAA research & Coverage: This bill would reform loan that is direct prices, loan payment, and loan forgiveness. It can establish a 10/10 Loan Repayment Arrange by which monthly obligations could be set at 10percent of the debtor’s modified revenues beyond 150% of this poverty line. Borrowers can apply to have around $45,520 of pupil financial obligation forgiven after ten years of consecutive re payments. This debt that is forgiven be excluded from taxable earnings. The bill would also cap direct loan interest prices at 3.4per cent. It can lessen the Public Service Loan Forgiveness (PSLF) payment requirements from 120 to 60 consecutive payments that are monthly.