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S. 1162 · 115th Congress

Bank on Students Emergency Loan Refinancing Act

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Never voted on. It didn't reach a floor vote before the 115th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.

EWD WarrenSponsor
39 cosponsors · 38 D, 1 I

This bill amends title IV (Student Assistance) of the Higher Education Act of 1965 to establish a program that allows eligible students with loans under the Federal Direct Loan program (a Federal Direct Stafford Loan, a Federal Direct Unsubsidized Stafford Loan, a Federal Direct PLUS Loan, or a Federal Direct Consolidation Loan) to refinance their loans…

What it does: CRS summary · Introduced in Senate · May 17, 2017

Bank on Students Emergency Loan Refinancing Act

This bill amends title IV (Student Assistance) of the Higher Education Act of 1965 to establish a program that allows eligible students with loans under the Federal Direct Loan program (a Federal Direct Stafford Loan, a Federal Direct Unsubsidized Stafford Loan, a Federal Direct PLUS Loan, or a Federal Direct Consolidation Loan) to refinance their loans down to the lower rates offered to new federal borrowers in the 2016-2017 school year under certain circumstances.

In addition, the bill allows student borrowers to refinance their private loans into the Federal Direct Loan program.

This bill amends the Internal Revenue Code to require an individual taxpayer whose adjusted gross income exceeds $1 million to pay a minimum tax rate of 30% of the excess of the taxpayer's adjusted gross income over the taxpayer's modified charitable contribution deduction for the taxable year (tentative fair share tax).

Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov

About this bill and sources

Official title: Bank on Students Emergency Loan Refinancing Act

Latest action (May 17, 2017): Read twice and referred to the Committee on Finance. (Sponsor introductory remarks on measure: CR S3015)

Policy area: Education · Origin: Senate · Introduced: May 17, 2017

Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)

No recorded floor vote found.