Student Loan Refinancing and Recalculation Act
- Last Action
- 3/27/2019
Actions
- 2019-03-27Referred to the House Committee on Education and Labor.
- 2019-03-27Introduced in House
- 2019-03-27Introduced in House
CRS Summary
As of 2019-03-27 (00)
Student Loan Refinancing and Recalculation Act
This bill provides for the refinancing or deferral of certain federal student loans.
Specifically, the bill directs the Department of Education to establish a program to refinance the outstanding principal, interest, and late charges on federal student loans in order to give borrowers fixed interest rates equal to the 10-year Treasury note rate plus one percentage point. Further, the bill eliminates origination fees on the loans.
In addition, the bill allows borrowers in medical or dental internship or residency programs to defer student loan payments until the completion of their programs.
Cosponsors (20)
- Brian Fitzpatrick (R-PA)
- Salud Carbajal (D-CA)
- Jerry McNerney (D-CA)
- Paul Tonko (D-NY)
- LLOYD DOGGETT (D-TX)
- Ann Kuster (D-NH)
- Jim Costa (D-CA)
- Raja Krishnamoorthi (D-IL)
- ELEANOR NORTON (D-DC)
- Steve Cohen (D-TN)
- Chellie Pingree (D-ME)
- Vicente Gonzalez (D-TX)
- Kathleen Rice (D-NY)
- Josh Harder (D-CA)
- Debra Haaland (D-NM)
- Katie Hill (D-CA)
- Michael San Nicolas (D-GU)
- Brendan Boyle (D-PA)
- Judy Chu (D-CA)
- John Katko (R-NY)
Subjects
- Government lending and loan guarantees
- Higher education
- Interest, dividends, interest rates
- Medical education
- Student aid and college costs
- User charges and fees
Sourced from Congress.gov (public domain).
This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.