S. 968 · 116th Congress
Protect Student Borrowers Act of 2019
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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
ReedSponsor3 cosponsors · 3 D
3 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill requires institutions of higher education (IHEs) to assume some of the risk of default for federal student loans.
What it does: CRS summary · Introduced in Senate · Apr 1, 2019
Protect Student Borrowers Act of 2019
This bill requires institutions of higher education (IHEs) to assume some of the risk of default for federal student loans.
IHEs must remit risk-sharing payments, based on the amount of defaulted student loans, if 33% or more of their enrolled students have student loans. The Department of Education may reduce or waive the payments under certain circumstances.
The proceeds from the payments must be used for reducing student loan debt, delinquency, or default and increasing Pell grants at IHEs with low default rates that enroll a high percentage of Pell Grant recipients.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Protect Student Borrowers Act of 2019
Latest action (Apr 1, 2019): Read twice and referred to the Committee on Health, Education, Labor, and Pensions. (Sponsor introductory remarks on measure: CR S2120-2121)
Policy area: Education · Origin: Senate · Introduced: Apr 1, 2019
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.