H.R. 7872 · 116th Congress
Responsible Borrowing 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.
R
GrothmanSponsorNo cosponsors.
This bill authorizes institutions of higher education (IHEs) to prorate or limit the amount of a Federal Direct Loan that an enrolled student may borrow for an academic year.
What it does: CRS summary · Introduced in House · Jul 30, 2020
Responsible Borrowing Act of 2020
This bill authorizes institutions of higher education (IHEs) to prorate or limit the amount of a Federal Direct Loan that an enrolled student may borrow for an academic year.
The bill specifies the factors that an IHE may use to limit these loans. These factors include the average starting salary for typical occupations pursued by graduates of the program, the enrollment status of the student (i.e., full- or part-time enrollment), the credential level of the program (e.g., degree or certificate), and the year of the program for which the student is seeking the loan.
Upon request of a student whose loan has been prorated or limited, an IHE may increase the amount of the loan within otherwise applicable limits if the student demonstrates special circumstances or exceptional need.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Responsible Borrowing Act of 2020
Latest action (Jul 30, 2020): Referred to the House Committee on Education and Labor.
Policy area: Education · Origin: House · Introduced: Jul 30, 2020
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.