H.R. 6446 · 114th Congress
Student Borrower HELP 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.
D
PalloneSponsor5 cosponsors · 5 D
4 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Student Borrower Higher Education Lending Protection Act of 2016 or the Student Borrower HELP Act of 2016
What it does: CRS summary · Introduced in House · Dec 6, 2016
Student Borrower Higher Education Lending Protection Act of 2016 or the Student Borrower HELP Act of 2016
This bill amends the Truth in Lending Act to provide to student borrowers of private education loans: (1) loan payment deferments without interest accruing during any period in which the student borrower is temporarily disabled, and (2) loan discharges if a student borrower dies or becomes totally or permanently disabled.
If a student borrower dies or becomes totally or permanently disabled, the student borrower, any cosigner on the loan, or the estate of either the student borrower or the cosigner shall not be obligated to make any additional loan payments.
The Internal Revenue Code is amended to exclude from an individual's gross income (which would otherwise include cancellation of debt as income) amounts based on the discharge of a student loan under this bill. An individual is therefore not subject to tax liability for the discharge of student loan debt under this bill.
Private educational lenders must disclose to borrowers the number of private education loans they offer and the number and rate of defaults on such loans.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Student Borrower HELP Act of 2016
Also known as: Student Borrower Higher Education Lending Protection Act of 2016
Latest action (Dec 6, 2016): Referred to the Committee on Financial Services, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Policy area: Finance and Financial Sector · Origin: House · Introduced: Dec 6, 2016
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.