H.R. 2410 · 112th Congress
College Debt Swap Act of 2011
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Never voted on. It didn't reach a floor vote before the 112th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
TownsSponsor9 cosponsors · 9 D
7 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
College Debt Swap Act of 2011 - Amends title IV (Student Assistance) of the Higher Education Act of 1965 to allow certain borrowers to consolidate their private education loans as Direct Consolidation Loans.
What it does: CRS summary · Introduced in House · Jul 6, 2011
College Debt Swap Act of 2011 - Amends title IV (Student Assistance) of the Higher Education Act of 1965 to allow certain borrowers to consolidate their private education loans as Direct Consolidation Loans.
Limits such borrowers to those who: (1) are not in default on a loan made, insured, or guaranteed under title IV, except in certain instances of economic hardship; (2) were enrolled, between July 1, 1994, and July 1, 2010, as students eligible for unsubsidized Stafford loans or PLUS loans under the Federal Family Education Loan or Direct Loan programs; (3) borrowed at least one private education loan during such enrollment period; (4) are repaying their private education loan or are in a grace period preceding such repayment; (5) do not have an adverse credit history with respect to Direct Plus loans; and (6) have not previously obtained a Direct Consolidated Loan under title IV.
Makes the program applicable only to private education loans disbursed to borrowers between July 1, 1994, and July 1, 2010.
Directs the Secretary of Education to inform and educate students and their families about this loan consolidation program.
Terminates the authority to make Consolidation loans under such program on June 30, 2012.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: College Debt Swap Act of 2011
Latest action (Sep 8, 2011): Referred to the Subcommittee on Higher Education and Workforce Training.
Policy area: Education · Origin: House · Introduced: Jul 6, 2011
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.