Bill > HR5084

This bill, the Student Loan Refinancing Act, would amend the Higher Education Act of 1965 to establish a program that allows borrowers to refinance their Federal Direct Stafford Loans, Federal Direct Unsubsidized Stafford Loans, Federal Direct PLUS Loans, and Federal Direct Consolidation Loans at lower interest rates. The bill also includes provisions to ensure that borrowers who refinance their loans are not penalized in terms of repayment plans and public service loan forgiveness. Additionally, the bill requires the Department of Education and the Consumer Financial Protection Bureau to undertake outreach efforts to inform borrowers about the refinancing options available to them.