Zero-Percent Student Loan Refinancing Act
- Last Action
- 5/7/2021
Actions
- 2021-05-07Referred to the House Committee on Education and Labor.
- 2021-05-07Introduced in House
- 2021-05-07Introduced in House
CRS Summary
As of 2021-05-07 (00)
Zero-Percent Student Loan Refinancing Act
This bill establishes a temporary program through which the Department of Education (ED) must make interest-free refinancing loans to borrowers of federal student loans from August 1, 2021, through December 31, 2024.
The bill requires ED to automatically refinance Federal Direct Loans and notify each borrower of the refinancing.
Borrowers who have other types of eligible loans (i.e., Federal Family Education Loans, Federal Perkins Loans, and certain health profession and nursing loans) must apply for refinancing. ED and the Consumer Financial Protection Bureau must carry out a campaign to notify borrowers of these types of loans that they are eligible to apply for refinancing under the program.
Cosponsors (11)
- Jahana Hayes (D-CT)
- JOHN LARSON (D-CT)
- Joseph Morelle (D-NY)
- ELEANOR NORTON (D-DC)
- Ed Perlmutter (D-CO)
- Chellie Pingree (D-ME)
- Albio Sires (D-NJ)
- Marilyn Strickland (D-WA)
- Frederica Wilson (D-FL)
- Ann Kuster (D-NH)
- MIKE DOYLE (D-PA)
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.