Bill > S2544

This bill, known as the Ryan Frascone Memorial Student Loan Relief Act of 2021, aims to adjust the applicability of certain amendments to the Truth in Lending Act. Specifically, it amends the Economic Growth, Regulatory Relief, and Consumer Protection Act to specify that the amendments made to the Truth in Lending Act apply to private education loan agreements entered into before, on, or after the date of enactment of the Act. Additionally, the bill establishes a program within the Department of the Treasury to purchase and retire outstanding private education loans where the borrower is deceased, there remains a cosigner on the loan, and the loan was entered into before the date that is 180 days after the enactment of the Economic Growth, Regulatory Relief, and Consumer Protection Act, but only upon an application from the loan holder demonstrating financial injury as a result of the amendment. The bill authorizes $5 million in appropriations to the Treasury to carry out this program.

Housing and Urban Affairs

https://www.congress.gov/bill/117th-congress/senate-bill/2544/all-info