S. 4344 · 117th Congress
Zero-Percent Student Loan Refinancing Act
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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
WhitehouseSponsorNo cosponsors.
This bill establishes temporary refinancing programs for federal and private student loans.
What it does: CRS summary · Introduced in Senate · May 26, 2022
Zero-Percent Student Loan Refinancing Act
This bill establishes temporary refinancing programs for federal and private student loans.
Specifically, the bill establishes a program through which the Department of Education (ED) must make interest-free refinancing loans to borrowers of federal student loans from August 1, 2022, through December 31, 2025.
The bill requires ED to automatically refinance Federal Direct Loans and notify each borrower of the refinancing.
Borrowers who have other types of eligible loans (i.e., Federal Family Education Loans, Federal Perkins Loans, and certain health profession and nursing loans) must apply for refinancing.
The bill also creates the Federal Direct Refinanced Private Loan to allow certain borrowers to refinance their private student loans. Borrowers must apply for refinancing between August 1, 2022, and December 31, 2025.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Zero-Percent Student Loan Refinancing Act
Latest action (May 26, 2022): Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
Policy area: Education · Origin: Senate · Introduced: May 26, 2022
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.