Bill > HR6424

This bill, the Helping Individuals Get a Higher Education while Reducing Education Debt Act or the HIGHER ED Act, aims to improve federal student loans in several ways: It reinstates the authority to make Federal Direct Stafford Loans to graduate and professional students, which had been temporarily terminated. It allows borrowers to discharge student loans through bankruptcy. It establishes new refinancing programs for Federal Direct Loans and private student loans, allowing borrowers to obtain lower interest rates. It expands the Public Service Loan Forgiveness program and makes changes to improve its administration. It reforms income-driven repayment plans, including capping interest accrual and providing more favorable terms for low-income borrowers. It also requires automatic enrollment of delinquent borrowers into income-driven repayment plans and automatic annual recertification of income for such plans.