Cashcall Reviews

Legislative Tracker: Loans & Repayment

Posted by on Jun 2, 2020 in Cashcall Reviews | Leave a comment

Legislative Tracker: Loans & Repayment

With this web web page, you will discover proposals to boost or alter the method in which pupils borrow and repay their loans.

For education loan and payment proposals through the past sessions of Congress, look at the Legislative Tracker Archive: Loans & Repayment.

*NEW* S. 3055 – Pupil Loan Repayment Freedom Act

Sponsor: Sen. Murkowski R-AK
Cosponsors: 2 (1D; 1R)
Introduced: 12/16/2019
NASFAA Summary & research: This bill would allow an educatonal loan borrower to go out of their income-based payment plan and repay under just about any loan payment arrange for that they qualify.

*NEW* H.R. 5287 — Fair Education Loan Debt Collection Tactics Act

Sponsor: Rep. Lawson D-FL
Cosponsors: 0
Introduced: 12/03/2019
NASFAA Summary & research: This bill would prohibit gathering from the debtor during any time period that the same debtor wouldn’t be necessary to produce a re re re payment under an income-driven plan. Loan companies would additionally be prohibited from collecting from a debtor a sum that is significantly more than a comparable debtor would have compensated in a single thirty days under an IDR plan.