summary
Introduced
10/18/2019
10/18/2019
In Committee
11/15/2019
11/15/2019
Crossed Over
Passed
Dead
12/31/2020
12/31/2020
Introduced Session
116th Congress
Bill Summary
To amend title 11 of the United States Code to make student loans dischargeable. This bill permits a borrower to discharge in bankruptcy a nonprofit, government, or private student loan, or an obligation to repay an educational benefit, scholarship, or stipend.
AI Summary
This bill, the Relief from Excessive Debt Act or the RED Act, amends the United States Bankruptcy Code to make student loans dischargeable. Specifically, it removes the current exception that prevents borrowers from discharging nonprofit, government, or private student loans, or obligations to repay educational benefits, scholarships, or stipends. This means that individuals filing for bankruptcy will be able to have these types of student loan debts eliminated, providing them with relief from excessive debt.
Committee Categories
Government Affairs, Justice
Sponsors (1)
Last Action
Referred to the Subcommittee on Antitrust, Commercial, and Administrative Law. (on 11/15/2019)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location | Created |
|---|---|---|
| State Bill Page | https://www.congress.gov/bill/116th-congress/house-bill/4750/all-info | 10/19/2019 |
| BillText | https://www.congress.gov/116/bills/hr4750/BILLS-116hr4750ih.pdf | 10/27/2019 |
| Bill | https://www.congress.gov/116/bills/hr4750/BILLS-116hr4750ih.pdf.pdf | 10/27/2019 |
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