Bill > S1384

This bill, the Joint Consolidation Loan Separation Act, would amend the Higher Education Act of 1965 to allow married couples or previously married couples who received a joint consolidation loan to apply to the Secretary of Education to separate the loan into two individual Federal Direct Consolidation Loans. The bill outlines the specific terms and conditions for these separate consolidation loans, including that the loans would be equal to the individual's share of the original joint consolidation loan, would have the same terms and conditions as the joint loan, and would allow any payments made under public service loan forgiveness or income-driven repayment plans on the joint loan to be treated as if they were made on the separate loans. The bill also includes provisions to allow individual borrowers to apply separately for the separate loans in certain circumstances, such as if they experienced domestic or economic abuse from the other borrower.

Health and Social Services

https://www.congress.gov/bill/115th-congress/senate-bill/1384/all-info