Sponsor: Rep. Lawson, Jr D-FL
Cosponsors: 4 (4D; 0R)
NASFAA review & Coverage: This bill would expand the repayment that is six-month duration for many Federal Direct Loans to a single 12 months. Additionally freezes rate of interest on these loans with this elegance duration.
H.R. 4113 – Public Provider Takes Care Of Act
Sponsor: Rep. Horn D-OK
NASFAA review & Coverage: This bill will allow borrowers signed up for the service that is public forgiveness (PSLF) program to own their loan quantities forgiven intermittently at set markers. For instance, after completing a couple of years of qualified work in addition to making on time, eligible, repayments throughout that time, the borrower would get 15% of this total quantity due on the eligible federal loans terminated. After 4 years another 15%, after 6 years another 20%, at 8 years another 20% and after decade the rest, if some of the loan quantity could be forgiven.
H.R. 4079 – succeed Act of 2019
Sponsor: Rep. Zeldin R-NY
NASFAA review & Coverage: This comprehensive bill would eradicate the Direct Loan Program and rather establish an “Income Dependent Education Assistance (CONCEPT)” Loan Program. Continue reading H.R. 4119 – Education Loan Deferment Act