Bill > HR3102

This bill, the Helping Individuals Get a Higher Education while Reducing Education Debt Act or the HIGHER ED Act, aims to make several changes to federal student loan programs: 1. It reinstates the authority to make Federal Direct Stafford Loans to graduate and professional students, which was temporarily terminated in 2012. 2. It allows for the discharge of student loans in bankruptcy, by removing the current exception that prevents the discharge of most federal student loans. 3. It establishes programs to allow borrowers to refinance their Federal Direct and FFEL loans at lower interest rates, as well as refinance private student loans into Federal Direct Refinanced Private Loans. 4. It expands the Public Service Loan Forgiveness program, including allowing more types of public service employment to qualify and providing partial loan forgiveness after 60 qualifying monthly payments. 5. It revises the income-based repayment plan, setting the monthly payment amount at 10% of discretionary income and allowing for $0 monthly payments in certain circumstances. 6. It requires automatic enrollment of delinquent borrowers into income-driven repayment plans and automatic recertification of income for borrowers in such plans. The bill aims to improve access to affordable student loan repayment options and provide greater debt relief for borrowers, particularly those working in public service.

Education, Government Affairs

https://www.congress.gov/bill/116th-congress/house-bill/3102/all-info