Bill > HR7288

This bill, the Affordable Loans for Any Student Act, aims to simplify student loan repayment plans, end interest capitalization and origination fees, provide assistance to borrowers in distress, and improve loan information and counseling. Key provisions include: - Establishing a new income-based repayment plan and a fixed 10-year repayment plan, while terminating certain existing repayment plan options. - Ending interest capitalization and origination fees for Federal Direct Loans. - Limiting the amount of income that can be seized for student loan debt collection and allowing multiple loan rehabilitations. - Creating a "pause payment" process to provide temporary relief from repayment, and automatically enrolling delinquent borrowers and those rehabilitating defaulted loans into income-based repayment. - Enhancing loan counseling and disclosure requirements, including creating online counseling tools. - Requiring private lenders to certify loans and provide borrowers with more information about their loans. The bill is intended to simplify the student loan repayment process, provide more protections and assistance to borrowers, and improve transparency around student loans.