S. 1845
Referred to CommitteeIf It's Good Enough For the Banks, It's Good Enough For Students Act
Latest Action
Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
6/13/2019 • Senate
Summary
If It's Good Enough For the Banks, It's Good Enough For Students Act
This bill establishes a program that allows qualified borrowers to refinance their Federal Direct Loans down to the lower interest rates offered to banks by the Federal Reserve System (i.e., through the discount window). The refinanced interest rate is fixed for the period of the loan.
The bill also directs the Department of Education and the Consumer Financial Protection Bureau to carry out a campaign to notify qualified borrowers who are not in default on their loans that they are eligible to apply for refinancing under the program within a two-year period.
Introduced in Senate • 6/13/2019
Topics & Subjects
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Related Federal Spending
Sponsor & Cosponsors (3)
Party Breakdown
Sponsor
Cosponsors (2)
Bill Journey
Originated in the Senate
Introduced
June 13, 2019
Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
Committee Review
Floor Debate
Passed Chamber
Other Chamber
President
Enacted into Law
Text Versions (1)
Related Bills (5)
H.R. 1707
Bank on Students Emergency Loan Refinancing Act
S. 768
Bank on Students Emergency Loan Refinancing Act
H.R. 3102
HIGHER ED Act
H.R. 4674
College Affordability Act
H.R. 6397
Coronavirus Emergency Student Loan Refinancing Act