118th Congress Education
H.R. 1731: LOAN Act
Introduced
- Introduced (completed)
- Passed House (not reached)
- Passed Senate (not reached)
- To the President (not reached)
- Became law (not reached)
Summary
This bill makes various changes to federal student aid programs, including the Federal Pell Grant program and the Public Service Loan Forgiveness (PSLF) program.
Specifically, the bill revises the Federal Pell Grant program by
- providing funding to increase the maximum Pell Grant award for each eligible student,
- requiring the award amount to be adjusted for inflation,
- allowing students who receive means-tested federal benefits (e.g., Medicaid) to automatically qualify for the maximum Pell Grant award plus an additional award amount,
- raising from 12 to 18 the total number of semesters during which a student may receive a Pell Grant, and
- allowing income-eligible graduate students who received Pell Grants during their undergraduate education to utilize their remaining Pell Grant eligibility toward their first graduate degree.
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Additionally, the bill revises the PSLF program by
- reducing the number of monthly loan payments required for loan forgiveness, and
- removing the requirement that a borrower must be employed in a public service job at the time of loan forgiveness.
The bill makes Dreamer students (i.e., students who have been granted Deferred Action for Childhood Arrivals status) who entered the United States before the age of 18 and who meet certain educational criteria eligible for federal financial aid.
The bill also (1) establishes refinancing programs for federal student loans and private student loans; and (2) repeals origination fees for Direct Subsidized Loans, Direct Unsubsidized Loans, and Direct PLUS Loans.
Written by the Congressional Research Service, Library of Congress.
Roll calls
No roll call votes have been held on this bill.
Amendments
No amendments were offered to this bill.
Cosponsors
- Alma Adams D-NCOriginal
- Suzanne Bonamici D-OROriginal
- Joe Courtney D-CTOriginal
- Raúl Grijalva D-AZOriginal
- Lucy McBath D-GAOriginal
- Gregorio Sablan D-MPOriginal
- Mark Takano D-CAOriginal
- Jill Tokuda D-HI
- Lori Trahan D-MA
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History
- Introduced in the House by Frederica Wilson.
Show the full action history (2 actions)
- Introduced in House
- Referred to the Committee on Education and the Workforce, and in addition to the Committee on the Budget, 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.