H.R. 6510 · 112th Congress
Student Loan Prepayment Standardization Act
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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
DeutchSponsor2 cosponsors · 2 D
2 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Student Loan Prepayment Standardization Act - Amends title IV (Student Assistance) of the Higher Education Act of 1965 to require that when the holder of a borrower's private education loans or loans made under the Federal Family Education Loan (FFEL) or Direct Loan (DL) programs receives a prepayment for such loans, it is to be applied first toward any…
What it does: CRS summary · Introduced in House · Sep 21, 2012
Student Loan Prepayment Standardization Act - Amends title IV (Student Assistance) of the Higher Education Act of 1965 to require that when the holder of a borrower's private education loans or loans made under the Federal Family Education Loan (FFEL) or Direct Loan (DL) programs receives a prepayment for such loans, it is to be applied first toward any fees due on such loans and then, unless the borrower requests otherwise, toward the interest and principal due on the loan with the highest interest rate.
Makes that requirement inapplicable to income-based repayment plans for FFELs or DLs.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Student Loan Prepayment Standardization Act
Latest action (Sep 21, 2012): Referred to the House Committee on Education and the Workforce.
Policy area: Education · Origin: House · Introduced: Sep 21, 2012
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.