H.R. 1918

Referred to Committee

Student Loan Refinancing and Recalculation Act

Introduced 3/16/2021•117th Congress•House

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Latest Action

Referred to the House Committee on Education and Labor.

3/16/2021 • House

Summary

Student Loan Refinancing and Recalculation Act

This bill provides for the refinancing or deferral of certain federal student loans.

Specifically, the bill directs the Department of Education to establish a program to refinance the outstanding principal, interest, and late charges on federal student loans in order to give borrowers fixed interest rates equal to the 10-year Treasury note rate plus one percentage point. Further, the bill eliminates origination fees on the loans.

In addition, the bill allows borrowers in medical, veterinary, or dental internship or residency programs to defer student loan payments until the completion of their programs.

Introduced in House • 3/16/2021

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Topics & Subjects

Policy Area: Education

Government lending and loan guaranteesHigher educationInterest, dividends, interest ratesMedical educationStudent aid and college costsUser charges and fees