Mentor: Sen. Murkowski [R-AK]
NASFAA Summation & Data: 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 Liberty Work
Sponsor: Sen. Murkowski [R-AK]
NASFAA Conclusion & Investigation: This bill would allow borrowers to switch between different repayment plans based tennesseetitleloans.net/cities/henderson/ on their situation without first being put into a forbearance or standard repayment plan while the transfer is made.
H.R.5126 – Combating Predatory Financing inside Advanced schooling Work regarding 2021
Sponsor: Rep. Van Duyne [R-TX]
NASFAA Summation & 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)
NASFAA Summation & 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.