118th Congress Education
H.R. 5710: Student Loan Refinancing and Recalculation Act
Introduced
- Introduced (completed)
- Passed House (not reached)
- Passed Senate (not reached)
- To the President (not reached)
- Became law (not reached)
Summary
This bill provides for the refinancing or deferral of certain federal student loans.
Specifically, the bill directs the Department of Education to establish a program to refinance the outstanding principal, interest, and late charges on federal student loans in order to give borrowers fixed interest rates equal to the 10-year Treasury note rate plus one percentage point. Further, the bill eliminates origination fees on the loans.
In addition, the bill allows borrowers in medical, veterinary, or dental internship or residency programs to defer student loan payments until the completion of their programs.
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The bill also terminates interest capitalization for federal student 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
- Brian Fitzpatrick R-PAOriginal
- Brendan Boyle D-PA
- Lloyd Doggett D-TX
- Eleanor Norton D-DC
- Raja Krishnamoorthi D-IL
- Chellie Pingree D-ME
- Josh Harder D-CA
- Deborah Ross D-NC
- Hillary Scholten D-MI
- Vicente Gonzalez D-TX
- Ann Kuster D-NH
Who scored on this bill
- 1John Garamendi SponsorDrew cross-party cosponsors, introduced2 events+6
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Introductions and cosponsorships count toward weekly caps and show no points.
History
- Introduced in the House by John Garamendi.
Show the full action history (2 actions)
- Introduced in House
- Referred to the House Committee on Education and the Workforce.