*NEW* S.3658 — Citizen Knowledge Deferred Appeal (REDI) Operate
Recruit: Sen. Rosen [D-NV]
Cosponsors: 1 (0D; 1R)
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 — Clean Record thanks to Payment Work regarding 2022
Sponsor: Rep. Ross [D-NC]
Cosponsors: 11 (11D; 0R)
NASFAA Summary & 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.Roentgen.6708 — Education loan Save Work
Sponsor: Rep. Gonzalez [D-TX]
NASFAA Summation & 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 Rehabilitation and you may Credit history Improvement Work out of 2022
Sponsor: Rep. Williams [D-GA]
Cosponsors: 18 (18D; 0R)
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.Roentgen.6424 — Highest ED Act
Sponsor: Rep. DeFazio [D-OR]
NASFAA Conclusion & 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. The bill would also allow borrowers to refinance their federal and/or private student loans and include adjunct faculty in those eligible for public service loan forgiveness (PSLF).