S. 1971
Referred to CommitteeStreamlining Accountability and Value in Education for Students Act
Latest Action
Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
6/14/2023 • Senate
Summary
Streamlining Accountability and Value in Education for Students Act
This bill addresses options for student loan repayment and access to federal student loans.
Specifically, the bill reduces the number of repayment options for federal student loans. Currently, a borrower may choose among nine plans for student loan repayment. This bill reduces those options to two: a standard 10-year repayment plan and an income-driven repayment plan.
The bill also requires an institution of higher education (IHE) that participates in federal student aid programs to certify that no federal student aid funds may be used by students for certain educational programs offered by the IHE. In particular, these funds may not be used by (1) an undergraduate student for enrollment in an educational program in which half of the graduates do not earn more than the median high school graduate, and (2) a graduate student for enrollment in an educational program in which half of the graduates do not earn more than the median bachelor's degree recipient.
Introduced in Senate • 6/14/2023
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Bill Journey
Originated in the Senate
Introduced
June 14, 2023
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