HR 1586 · 117th Congress · Education
Student Loan Reform Act
Bill Progress
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Introduced2
Committee3
House Vote4
Senate5
EnactedLatest: Referred to the House Committee on Education and Labor.(2021-03-03)
Plain Language Summary
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Student Loan Reform Act This bill requires the Department of Education to carry out a program that allows participating institutions of higher education (IHEs) to cosign certain Federal Direct Loans made to its enrolled students. An IHE that participates in the program assumes the obligation to repay the outstanding balance of principal and interest due on the loan over 10 years if the borrower defaults on the loan.…
Summarized by Claude AI · Non-partisan · For informational purposes only
Cosponsors (2)
1 Democrat1 Republican