summary
Introduced
05/15/2019
05/15/2019
In Committee
05/15/2019
05/15/2019
Crossed Over
Passed
Dead
12/31/2020
12/31/2020
Introduced Session
116th Congress
Bill Summary
A bill to amend the Higher Education Act of 1965 to authorize borrowers to separate joint consolidation loans. This bill allows two borrowers, who had previously received a joint consolidation loan for their student debt under the William D. Ford Federal Direct Loan Program, to submit a joint application to sever their consolidated loan. One borrower may submit a separate application in the event that the individual is experiencing domestic or economic abuse from the other individual borrower, or is unable to reasonably reach or access the loan information of the other borrower.
AI Summary
This bill amends the Higher Education Act of 1965 to allow borrowers who previously received a joint consolidation loan under the William D. Ford Federal Direct Loan Program to apply to the Secretary of Education to separate their loan into two individual Federal Direct Consolidation Loans. Specifically, the bill allows a married couple (or previously married couple) to submit a joint application to sever their consolidated loan, or it allows one individual borrower to apply separately in cases of domestic or economic abuse, or if the borrower is unable to reasonably access the loan information of the other borrower. The separate consolidation loans would have the same interest rate as the original joint consolidation loan, and any payments made under income-driven repayment plans or public service loan forgiveness would be credited to the new individual loans.
Committee Categories
Health and Social Services
Sponsors (3)
Last Action
Read twice and referred to the Committee on Health, Education, Labor, and Pensions. (on 05/15/2019)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.congress.gov/bill/116th-congress/senate-bill/1489/all-info |
| BillText | https://www.congress.gov/116/bills/s1489/BILLS-116s1489is.pdf |
| Bill | https://www.congress.gov/116/bills/s1489/BILLS-116s1489is.pdf.pdf |
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