Protect Student Borrowers Act of 2017
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in senate (Oct 26, 2017)
Protect Student Borrowers Act of 2017
This bill amends the Higher Education Act of 1965 to require institutions of higher education (IHEs) participating in the William D. Ford Federal Direct Loan program to assume some of the risk of default for student loans under the program.
For any fiscal year in which at least 33% of the IHE's student body is participating in the Direct Loan program, the IHE must remit a risk-sharing payment that is based on the amount of its defaulted Direct Loans.
What just happenedOct 26, 2017
Read twice and referred to the Committee on Health, Education, Labor, and Pensions. (Sponsor introductory remarks on measure: CR S6855)
Who’s behind it
- Introduced in SenateOct 26, 2017
- Oct 26, 2017IntroReferral
Read twice and referred to the Committee on Health, Education, Labor, and Pensions. (Sponsor introductory remarks on measure: CR S6855)
Health, Education, Labor, and Pensions Committee - Oct 26, 2017IntroReferral10000
Introduced in Senate