H.R. 7625 · 116th Congress
Ryan Frascone Memorial Student Loan Relief Act of 2020
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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
CraigSponsorNo cosponsors.
This bill retroactively applies certain borrower protections related to cosigners of private student loans.
What it does: CRS summary · Introduced in House · Jul 16, 2020
Ryan Frascone Memorial Student Loan Relief Act of 2020
This bill retroactively applies certain borrower protections related to cosigners of private student loans. Specifically, all private student loan agreements must (1) prohibit a creditor from declaring a default or accelerating the debt of a private student loan on the sole basis of the death or bankruptcy of a cosigner to such a loan, and (2) require loan holders to release cosigners from any obligation upon the death of the student borrower. Under current law, these protections apply only to private student loan agreements entered into on or after November 20, 2018.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Ryan Frascone Memorial Student Loan Relief Act of 2020
Latest action (Jul 16, 2020): Referred to the House Committee on Financial Services.
Policy area: Finance and Financial Sector · Origin: House · Introduced: Jul 16, 2020
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.