Student Loan Relief Act of 2015
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in house (Nov 19, 2015)
Student Loan Relief Act of 2015
This bill authorizes the Department of the Treasury to establish a temporary three-year program to facilitate federal student loan refinancing into the private market, at no cost to the federal government, to ensure payment of lower interest rates on student loans. Private lenders under such refinancing program shall be eligible to receive a federal government guarantee of 95% of loans.
Treasury shall, in consultation with the Department of Education, begin a national awareness campaign to alert student loan borrowers about such refinancing program with a disclosure that a private loan that results from such refinancing is not eligible for income driven repayment or loan forgivingness.
The bill amends the Internal Revenue Code to allow an exclusion from gross income for the payment of an employer, either to an employee or a lender, of any indebtedness of an employee under a qualified education refinance loan or any interest relating to such a loan. The term "qualified education refinance loan" means any indebtedness used solely to refinance a qualified education loan with respect to which the lender offers the borrower protection in the event of unemployment or financial hardship.
What just happenedMar 23, 2016
Referred to the Subcommittee on Higher Education and Workforce Training.
Who’s behind it
- Introduced in HouseNov 19, 2015
- Mar 23, 2016Committee
Referred to the Subcommittee on Higher Education and Workforce Training.
Higher Education and Workforce Development Subcomittee - Nov 19, 2015IntroReferralH11100
Referred to the Committee on Education and the Workforce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Ways and Means Committee - Nov 19, 2015IntroReferralH11100-A
Referred to the Committee on Education and the Workforce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
- Nov 19, 2015IntroReferralH11100
Referred to the Committee on Education and the Workforce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Education and the Workforce Committee - Nov 19, 2015IntroReferralIntro-H
Introduced in House
- Nov 19, 2015IntroReferral1000
Introduced in House