This costs will allow qualified federal individuals so you can re-finance its federal money whenever interest levels was smaller

Sponsor: Rep. Van Duyne [R-TX]
Cosponsors: 0
Introduced:
NASFAA Summary & Analysis: This bill would now include PLUS loans made to graduate students and parents in the calculation for an institution’s Cohort Default Rate (CDR) so that any default in these loans is now included in the calculation.

H.R.5084 – Education loan Refinancing Act

Sponsor: Rep. Turner [R-OH]
Cosponsors: 1 (1D; 0R)
Introduced:
NASFAA Conclusion & Analysis: After completing an application for refinancing for an eligible federal student loan, the borrower would be able to refinance their loan’s interest rate to the interest rate for current new borrowers at the same time of the application. The bill would also ensure that refinancing loans does not affect a borrower’s monthly payment count on IDR repayment plans and PSLF plans.

S.2596 – Financing Act off 2021

Sponsor: Sen. Rubio [R-FL]
Cosponsors: 0
Introduced:
NASFAA Conclusion & Analysis: This bill would eliminate interest and replace it with a one-time, non-compounding origination fee that borrowers will pay over the life of the loan. Continue Reading