US S768

Bill

Bank on Students Emergency Loan Refinancing Act

Introduced
03/13/2019

In Committee
03/13/2019

Crossed Over

Passed

Dead
12/31/2020

Introduced Session

116th Congress

Bill Summary

A BILL To amend the Higher Education Act of 1965 to provide for the refinancing of certain Federal student loans, and for other purposes. 1

AI Summary

This bill, the Bank on Students Emergency Loan Refinancing Act, would amend the Higher Education Act of 1965 to allow the Secretary of Education to refinance certain federal student loans and private education loans at lower interest rates. The bill establishes a program to allow qualified borrowers to refinance their eligible federal and private student loans at interest rates based on the rates for federal direct loans issued in 2016-2017. The bill also requires private educational lenders to report certain data on private student loans to the Secretary of Education, the Secretary of the Treasury, and the Director of the Consumer Financial Protection Bureau. Finally, the bill establishes a "Fair Share Tax" on high-income taxpayers to help cover the costs of the student loan refinancing programs.

Committee Categories

Budget and Finance

Sponsors (36)

Elizabeth Warren (D)*, Tammy Baldwin (D), Michael Bennet (D), Richard Blumenthal (D), Cory Booker (D), Sherrod Brown (D), Maria Cantwell (D), Ben Cardin (D), Bob Casey (D), Catherine Cortez Masto (D), Tammy Duckworth (D), Dick Durbin (D), Dianne Feinstein (D), Kirsten Gillibrand (D), Kamala Harris (D), Maggie Hassan (D), Martin Heinrich (D), Mazie Hirono (D), Amy Klobuchar (D), Patrick Leahy (D), Joe Manchin (I), Ed Markey (D), Bob Menendez (D), Jeff Merkley (D), Chris Murphy (D), Gary Peters (D), Jack Reed (D), Bernie Sanders (I), Chuck Schumer (D), Jeanne Shaheen (D), Tina Smith (D), Debbie Stabenow (D), Tom Udall (D), Chris Van Hollen (D), Sheldon Whitehouse (D), Ron Wyden (D),

Last Action

Read twice and referred to the Committee on Finance. (on 03/13/2019)

Official Document

https://www.congress.gov/bill/116th-congress/senate-bill/768/all-info

(5 Companion Bills)

Version:

Document Type	Source Location
State Bill Page	https://www.congress.gov/bill/116th-congress/senate-bill/768/all-info
BillText	https://www.congress.gov/116/bills/s768/BILLS-116s768is.pdf
Bill	https://www.congress.gov/116/bills/s768/BILLS-116s768is.pdf.pdf

Bill	Bill Name	Last Action	Type
HR1707	Bank on Students Emergency Loan Refinancing Act	Referred to the Committee on Education and Labor, and in addition to the Committees on Ways and Means, and the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.	Same As
HR6397	Coronavirus Emergency Student Loan Refinancing Act	Referred to the House Committee on Education and Labor.	Related
HR7863	Paying a Fair Share Act of 2019	Referred to the Subcommittee on Select Revenue Measures.	Related
S1726	Paying a Fair Share Act of 2019	Read twice and referred to the Committee on Finance.	Related
S1845	If It's Good Enough For the Banks, It's Good Enough For Students Act	Read twice and referred to the Committee on Health, Education, Labor, and Pensions.	Similar To

Bill > S768

US S768

summary

Introduced Session

Bill Summary

AI Summary

Committee Categories

Sponsors (36)

Last Action

Official Document

bill text

bill summary

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