US HB4102 | 2015-2016 | 114th Congress
Status
Spectrum: Partisan Bill (Republican 2-0)
Status: Introduced on November 19 2015 - 25% progression, died in committee
Action: 2016-03-23 - Referred to the Subcommittee on Higher Education and Workforce Training.
Pending: House Subcommittee on Higher Education and Workforce Training Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on November 19 2015 - 25% progression, died in committee
Action: 2016-03-23 - Referred to the Subcommittee on Higher Education and Workforce Training.
Pending: House Subcommittee on Higher Education and Workforce Training Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Student Loan Relief Act of 2015 This bill authorizes the Department of the Treasury to establish a temporary three-year program to facilitate federal student loan refinancing into the private market, at no cost to the federal government, to ensure payment of lower interest rates on student loans. Private lenders under such refinancing program shall be eligible to receive a federal government guarantee of 95% of loans. Treasury shall, in consultation with the Department of Education, begin a national awareness campaign to alert student loan borrowers about such refinancing program with a disclosure that a private loan that results from such refinancing is not eligible for income driven repayment or loan forgivingness. The bill amends the Internal Revenue Code to allow an exclusion from gross income for the payment of an employer, either to an employee or a lender, of any indebtedness of an employee under a qualified education refinance loan or any interest relating to such a loan. The term "qualified education refinance loan" means any indebtedness used solely to refinance a qualified education loan with respect to which the lender offers the borrower protection in the event of unemployment or financial hardship.
Title
Student Loan Relief Act of 2015
Sponsors
Rep. Barbara Comstock [R-VA] | Rep. Morgan Griffith [R-VA] |
History
Date | Chamber | Action |
---|---|---|
2016-03-23 | House | Referred to the Subcommittee on Higher Education and Workforce Training. |
2015-11-19 | House | Referred to House Ways and Means |
2015-11-19 | House | Referred to House Education and the Workforce |
2015-11-19 | House | Referred to the Committee on Education and the Workforce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. |
2015-11-19 | House | Introduced in House |
Same As/Similar To
SB2099 (Same As) 2015-09-29 - Read twice and referred to the Committee on Finance.
Subjects
Employee benefits and pensions
Government information and archives
Government lending and loan guarantees
Income tax exclusion
Interest, dividends, interest rates
Student aid and college costs
Taxation
Unemployment
Government information and archives
Government lending and loan guarantees
Income tax exclusion
Interest, dividends, interest rates
Student aid and college costs
Taxation
Unemployment
US Congress State Sources
Type | Source |
---|---|
Summary | https://www.congress.gov/bill/114th-congress/house-bill/4102/all-info |
Text | https://www.congress.gov/114/bills/hr4102/BILLS-114hr4102ih.pdf |