S. 768

Referred to Committee

Bank on Students Emergency Loan Refinancing Act

Introduced 3/13/2019•116th Congress•Senate

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Read twice and referred to the Committee on Finance.

3/13/2019 • Senate

Summary

Bank on Students Emergency Loan Refinancing Act

This bill revises requirements concerning student loan debt.

Specifically, the bill establishes a program that allows eligible individuals with federal or private student loans to refinance them down to the lower rates offered to new federal borrowers in the 2016-2017 school year under certain circumstances.

In addition, the bill requires an individual taxpayer whose adjusted gross income exceeds $1 million to pay a minimum tax rate of 30% of the excess of the taxpayer's adjusted gross income over the taxpayer's modified charitable contribution deduction for the taxable year (commonly known as the tentative fair share tax).

Introduced in Senate • 3/13/2019

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Topics & Subjects

Policy Area: Education

Budget deficits and national debtGovernment lending and loan guaranteesHigher educationIncome tax deductionsIncome tax ratesInflation and pricesInterest, dividends, interest ratesSocial work, volunteer service, charitable organizationsStudent aid and college costsUser charges and fees