H.R. 3792 · 116th Congress
GRACE Act
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Never voted on. It didn't reach a floor vote before the 116th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
HornSponsor2 cosponsors · 2 D
0 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill (1) provides for deferment periods (i.e., grace periods) that apply to federal student loan payments, and (2) prohibits interest from accruing on these loans during such deferment periods.
What it does: CRS summary · Introduced in House · Jul 17, 2019
Guaranteeing Respite After College Ends Act or the GRACE Act
This bill (1) provides for deferment periods (i.e., grace periods) that apply to federal student loan payments, and (2) prohibits interest from accruing on these loans during such deferment periods.
The bill specifies that Federal Direct Stafford Loans and Federal Direct Unsubsidized Stafford Loans first disbursed on or after July 1, 2020, are not subject to repayment of principal or interest accrual while the student borrower is in school or during the six-month grace period after the student borrower leaves school.
Additionally, the bill specifies that Federal Direct PLUS Loans and Federal Direct Consolidation Loans first disbursed on or after July 1, 2020, are not subject to repayment of principal or interest accrual prior to 60 days after loan disbursement.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: GRACE Act
Also known as: Guaranteeing Respite After College Ends Act
Latest action (Jul 17, 2019): Referred to the House Committee on Education and Labor.
Policy area: Education · Origin: House · Introduced: Jul 17, 2019
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.