Which bill allows eligible federal consumers to refinance its government financing when interest rates was quicker

Which bill allows eligible federal consumers to refinance its government financing when interest rates was quicker

Mentor: Sen. Murkowski [R-AK]
Cosponsors: 4
Lead:
NASFAA Conclusion & Study: This bill would eliminate penalties and deterrents that prevent institutions from informing students about student loans offered by non-profit state agency lenders.

S.2976 – Student loan Installment Freedom Operate

Sponsor: Sen. Murkowski [R-AK]
Cosponsors: 2
Introduced:
NASFAA Bottom line & Investigation: This bill would allow borrowers to switch between different repayment plans based on their situation without first being put into a forbearance or standard repayment plan while the transfer is made.

H.Roentgen.5126 – Combating Predatory Lending when you look at the Advanced schooling Work out-of 2021

Sponsor: Rep. Van Duyne [R-TX]
Cosponsors: 0
Introduced:
NASFAA Conclusion & Analysis: This bill would now include PLUS loans made to graduate students and parents in the calculation for an institution’s Cohort Default Rate (CDR) so that any default in these loans is now included in the calculation.

H.Roentgen.5084 – Education loan Refinancing Act

Sponsor: Rep. Turner [R-OH]
Cosponsors: 1 (1D; 0R)
Introduced:
NASFAA Conclusion & Analysis: After completing an application for refinancing for an eligible federal student loan, the borrower would be able to refinance their loan’s interest rate to the interest rate for current new borrowers at the same time of the application. The bill would also ensure that refinancing loans does not affect a borrower’s monthly payment count on IDR repayment plans and PSLF plans.

S.2596 – Loan Act away from 2021

Sponsor: Sen. Rubio [R-FL]
Cosponsors: 0
Introduced:
NASFAA Summary & Analysis: This bill would eliminate interest and replace it with a one-time, non-compounding origination fee that borrowers will pay over the life of the loan. (mehr …)