In this article, discover proposals to alter or modify the process where people obtain and you can pay-off their fund

*NEW* S.3658 – Resident Knowledge Deferred Notice (REDI) Work

Recruit: Sen. Rosen [D-NV]
Cosponsors: 1 (0D; 1R)
Delivered:
NASFAA Summary & Analysis: This bill would allow borrowers in a medical or dental residency program to have the interest and payments on their student loans deferred.

*NEW* H.R.6749 – Brush Slate as a consequence of Repayment Operate away from 2022

Sponsor: Rep. Ross [D-NC]
Cosponsors: 11 (11D; 0R)
Introduced:
NASFAA Bottom line & Analysis: This bill would remove the record of default on a borrower’s credit history upon total repayment of the full amount due.

*NEW* H.R.6708 – Student loan Recovery Work

Sponsor: Rep. Gonzalez [D-TX]
Cosponsors: 0
Introduced:
NASFAA Bottom line & Analysis: This bill would require the Department of Education to forgive a maximum of $25,000 for Federal student loan borrowers. The forgiven amount would be tax free.

H.R.6466 – Education loan Treatment and you may Credit score Update Work out of 2022

Sponsor: Rep. Williams [D-GA]
Cosponsors: 18 (18D; 0R)
Introduced:
NASFAA Realization & Analysis: This bill would not only require the removal of the record of default from a borrower’s credit history report once they have rehabilitated their loans, but would require the removal of all adverse credit history related to the loan’s initial defaulted status.

H.R.6424 – Highest ED title loans Brownsville TN Act

Sponsor: Rep. DeFazio [D-OR]
Cosponsors: 0
Introduced:
NASFAA Bottom line & Analysis: This bill would reform the current federal loan program through a multitude of programs, including, reinstating federal subsidized loans to borrowers in graduate and professional programs and allowing borrowers to discharge their federal loans if they file for bankruptcy. Continue reading “In this article, discover proposals to alter or modify the process where people obtain and you can pay-off their fund”