Student Loan Refinancing and Recalculation Act
- Last Action
- 9/26/2023
Actions
- 2023-09-26Referred to the House Committee on Education and the Workforce.
- 2023-09-26Introduced in House
- 2023-09-26Introduced in House
CRS Summary
As of 2023-09-26 (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, veterinary, or dental internship or residency programs to defer student loan payments until the completion of their programs.
The bill also terminates interest capitalization for federal student loans.
Cosponsors (11)
- Brian Fitzpatrick (R-PA)
- ELEANOR NORTON (D-DC)
- LLOYD DOGGETT (D-TX)
- Brendan Boyle (D-PA)
- Raja Krishnamoorthi (D-IL)
- Chellie Pingree (D-ME)
- Josh Harder (D-CA)
- Deborah Ross (D-NC)
- Hillary Scholten (D-MI)
- Ann Kuster (D-NH)
- Vicente Gonzalez (D-TX)
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.