summary
Introduced
03/04/2021
03/04/2021
In Committee
03/04/2021
03/04/2021
Crossed Over
Passed
Dead
01/03/2023
01/03/2023
Introduced Session
117th 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.
AI Summary
This bill, the Coronavirus Emergency Student Loan Refinancing Act, amends the Higher Education Act of 1965 to allow the Secretary of Education to establish a program to refinance certain Federal student loans, including Federal Direct Loans and loans made under the Federal Family Education Loan (FFEL) program. The bill sets specific interest rates for the refinanced loans based on the type of loan and the borrower's student status (undergraduate or graduate/professional). The bill also includes provisions to ensure that borrowers who refinance their loans under this program retain their existing repayment terms and can continue to count previous qualifying payments towards Public Service Loan Forgiveness and Income-Based Repayment plans.
Committee Categories
Health and Social Services
Sponsors (1)
Last Action
Read twice and referred to the Committee on Health, Education, Labor, and Pensions. (on 03/04/2021)
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/117th-congress/senate-bill/603/all-info | 03/05/2021 |
| BillText | https://www.congress.gov/117/bills/s603/BILLS-117s603is.pdf | 04/08/2021 |
| Bill | https://www.congress.gov/117/bills/s603/BILLS-117s603is.pdf.pdf | 04/08/2021 |
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