H.R. 4661 · 114th Congress
Parent PLUS Loan Improvement Act of 2016
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Never voted on. It didn't reach a floor vote before the 114th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
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FudgeSponsor9 cosponsors · 9 D
D
Brown
JC
D
Courtney
RH
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Hinojosa
SP
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Plaskett
CR
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Richmond
MT
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Thompson
MT
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Takano
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Veasey
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Wilson9 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill amends title IV (Student Assistance) of the Higher Education Act of 1965 to modify the applicable terms and conditions with respect to Federal Direct PLUS Loans to parent borrowers (i.e., parent PLUS loans).
What it does: CRS summary · Introduced in House · Mar 2, 2016
Parent PLUS Loan Improvement Act of 2016
This bill amends title IV (Student Assistance) of the Higher Education Act of 1965 to modify the applicable terms and conditions with respect to Federal Direct PLUS Loans to parent borrowers (i.e., parent PLUS loans).
Specifically, it reduces the interest rate and eliminates the origination fee for a parent PLUS loan disbursed on or after July 1, 2016.
The Department of Education must ensure, prior to disbursement, that a parent PLUS loan borrower receives counseling that includes comprehensive information on the terms, conditions, and responsibilities with respect to the loan.
The bill makes a parent PLUS loan eligible for the income-contingent and income-based repayment plans. Additionally, it makes a consolidation loan that repays parent PLUS loan eligible for the income-based repayment plan.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Parent PLUS Loan Improvement Act of 2016
Latest action (Sep 19, 2016): Referred to the Subcommittee on Higher Education and Workforce Training.
Policy area: Education · Origin: House · Introduced: Mar 2, 2016
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.