If It's Good Enough For the Banks, It's Good Enough For Students Act
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in senate (Jun 13, 2019)
If It's Good Enough For the Banks, It's Good Enough For Students Act
This bill establishes a program that allows qualified borrowers to refinance their Federal Direct Loans down to the lower interest rates offered to banks by the Federal Reserve System (i.e., through the discount window). The refinanced interest rate is fixed for the period of the loan.
The bill also directs the Department of Education and the Consumer Financial Protection Bureau to carry out a campaign to notify qualified borrowers who are not in default on their loans that they are eligible to apply for refinancing under the program within a two-year period.
What just happenedJun 13, 2019
Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
Who’s behind it
- Introduced in SenateJun 13, 2019
- Jun 13, 2019IntroReferral
Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
Health, Education, Labor, and Pensions Committee - Jun 13, 2019IntroReferral10000
Introduced in Senate