H.R. 5890 · 117th Congress
Student Loan Borrower Safety Net Act of 2021
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Never voted on. It didn't reach a floor vote before the 117th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
BonamiciSponsor7 cosponsors · 7 D
5 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill requires the Department of Education (ED) to carry out a program to notify borrowers that normal payment obligations on their federal student loans will resume.
What it does: CRS summary · Introduced in House · Nov 5, 2021
Student Loan Borrower Safety Net Act of 2021
This bill requires the Department of Education (ED) to carry out a program to notify borrowers that normal payment obligations on their federal student loans will resume.
Not later than 60 days before payment obligations are no longer suspended (as determined by ED), ED must provide at least six notices to borrowers indicating that their payment obligations will resume. These notices must also indicate the options for (1) enrolling in income-driven repayment plans, and (2) rehabilitating or consolidating loans.
ED must provide priority notification to certain borrowers, including those who missed a payment in the first three months of entering repayment on a loan.
The bill allows borrowers to (1) submit an application or reapplication for an income-contingent or income-based repayment plan and self-certify their income and family size, (2) change their repayment plan without a fee, and (3) apply for an economic hardship deferment.
If a borrower misses a payment or payments on a loan during the 60 days after the payment suspension ends, then the loan must be held in administrative forbearance for 90 days.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Student Loan Borrower Safety Net Act of 2021
Latest action (Nov 5, 2021): Referred to the House Committee on Education and Labor.
Policy area: Education · Origin: House · Introduced: Nov 5, 2021
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.