H.R. 4834 · 111th Congress
Student Debt Reduction Act
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Never voted on. It didn't reach a floor vote before the 111th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
SchauerSponsorNo cosponsors.
Student Debt Reduction Act - Amends the Higher Education Act of 1965 to cap annual, income-based, student loan repayments under the Federal Family Education Loan and Direct Loan programs at 10% (currently, 15%) of the amount by which a borrower's and the borrower's spouse's adjusted gross income exceeds 150% of the poverty line.
What it does: CRS summary · Introduced in House · Mar 11, 2010
Student Debt Reduction Act - Amends the Higher Education Act of 1965 to cap annual, income-based, student loan repayments under the Federal Family Education Loan and Direct Loan programs at 10% (currently, 15%) of the amount by which a borrower's and the borrower's spouse's adjusted gross income exceeds 150% of the poverty line.
Requires the Secretary of Education to cancel or repay such loans after 20 (currently, 25) years.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Student Debt Reduction Act
Latest action (Apr 30, 2010): Referred to the Subcommittee on Higher Education, Lifelong Learning, and Competitiveness.
Policy area: Education · Origin: House · Introduced: Mar 11, 2010
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.