Student Loan Refinancing Act
Summary
Student Loan Refinancing Act This bill establishes a refinancing program for federal student loans. Specifically, the Department of Education (ED) must, within 30 days, establish a program that allows borrowers to refinance their federal student loans down to lower interest rates. The refinanced interest rates are (1) calculated based on the type of student loan (e.g., Stafford), and (2) fixed for the period of the loan. In addition, the bill requires ED to coordinate with the Consumer Financial Protection Bureau to alert borrowers of their program eligibility.
Bill status
in committee
1 of 4 stages cleared
Introduction
Aug 2021
Committee Review
Floor Vote
President
Introduced Aug 23, 2021
Last action Aug 23, 2021
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
2
Key actions
0
Committee
1
Aug 23, 2021
Committee
Referred to the House Committee on Education and Labor.
lower
Aug 23, 2021
Introduced
Introduced in House
lower
1 primary · 2 co-sponsors
Sponsors
Role
Legislator
Party
State
District
P
Michael R. Turner
RRepublican
Co
Anthony G. Brown
DDemocratic
Co
Lloyd Doggett
DDemocratic
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