US Congress House Bill 2848 (Prior Session Legislation)

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Spectrum: Partisan Bill (Democrat 2-0)
Status: Introduced on June 8 2017 - 25% progression, died in committee
Action: 2017-06-08 - Referred to the House Committee on Education and the Workforce.
Pending: House Education And The Workforce Committee
Text: Latest bill text (Introduced) [PDF]

RISE Act Relief and Investment for Student Entrepreneurs Act This bill amends the Higher Education Act of 1965 to allow a qualified entrepreneur with a loan under the William D. Ford Federal Direct Loan program to defer loan payments for up to 3 years. A "qualified entrepreneur" is a borrower who: (1) has received a degree during the 10-year period before the date of the deferment, (2) has at least one registered business entity, (3) has raised capital of not less than $30,000 for such business entity, and (4) has an outstanding loan balance of not less than $5,000. The Department of Education may cancel up to $17,500 of federal direct and unsubsidized Stafford loans for a borrower who: (1) has operated a small business located in a historically underutilized business zone for at least three years, and (2) is not currently in default on the loan.

RISE Act Relief and Investment for Student Entrepreneurs Act

Rep. Ruben Gallego [D-AZ]

Rep. Eric Swalwell [D-CA]

Date	Chamber	Action
2017-06-08	House	Referred to the House Committee on Education and the Workforce.
2017-06-08	House	Introduced in House

Type	Source
Summary	https://www.congress.gov/bill/115th-congress/house-bill/2848/all-info
Text	https://www.congress.gov/115/bills/hr2848/BILLS-115hr2848ih.pdf