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In this article, you’ll find proposals to evolve or customize the procedure which students borrow and you can repay the loans

In this article, you’ll find proposals to evolve or customize the procedure which students borrow and you can repay the loans

*NEW* S.3658 – Resident Degree Deferred Appeal (REDI) Operate

Recruit: Sen. Rosen [D-NV]
Cosponsors: 1 (0D; 1R)
Lead:
NASFAA Realization & Analysis: This bill would allow borrowers in a medical or dental residency program to have the interest and payments on their student loans deferred.

*NEW* H.R.6749 – Brush Record as a result of Repayment Act off 2022

Sponsor: Rep. Ross [D-NC]
Cosponsors: 11 (11D; 0R)
Introduced:
NASFAA Summary & Analysis: This bill would remove the record of default on a borrower’s credit history upon total repayment of the full amount due.

*NEW* H.Roentgen.6708 – Education loan Recovery Act

Sponsor: Rep. Gonzalez [D-TX]
Cosponsors: 0
Introduced:
NASFAA Summary & Analysis: This bill would require the Department of Education to forgive a maximum of $25,000 for Federal student loan borrowers. The forgiven amount would be tax free.

H.R.6466 – Student loan Treatment and you can Credit rating Upgrade Operate from 2022

Sponsor: Rep. Williams [D-GA]
Cosponsors: 18 (18D; 0R)
Introduced:
NASFAA Summary & Analysis: This bill would not only require the removal of the record of default from a borrower’s credit history report once they have rehabilitated their loans, but would require the removal of all adverse credit history related to the loan’s initial defaulted status.

H.R.6424 – High ED Work

Sponsor: Rep. DeFazio [D-OR]
Cosponsors: 0
Introduced:
NASFAA Summation & Analysis: This bill would reform the current federal loan program through a multitude of programs, including, reinstating federal subsidized loans to borrowers in graduate and professional programs and allowing borrowers to discharge their federal loans if they file for bankruptcy.