HOUSE 4139118th CongressReferred to the House Committee on Education and the Workforce.

Student Loan Refinancing Act

Last Action: 6/14/2023

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2023-06-14Referred to the House Committee on Education and the Workforce.
2023-06-14Introduced in House
2023-06-14Introduced in House

CRS Summary

As of 2023-06-14 (00)

Student Loan Refinancing Act

This bill establishes a refinancing program for federal student loans.

Specifically, the Department of Education (ED) must, within 30 days, establish a program that allows borrowers to refinance their federal student loans down to lower interest rates. The refinanced interest rates are (1) calculated based on the type of student loan (e.g., Stafford), and (2) fixed for the period of the loan.

In addition, the bill requires ED to coordinate with the Consumer Financial Protection Bureau to alert borrowers of their program eligibility.

Cosponsors (3)

Donald Norcross (D-NJ)
Brian Fitzpatrick (R-PA)
LLOYD DOGGETT (D-TX)

Read on Congress.gov

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