US Congress House Bill 4661 (Prior Session Legislation)

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Spectrum: Partisan Bill (Democrat 10-0)
Status: Introduced on March 2 2016 - 25% progression, died in committee
Action: 2016-09-19 - 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]

Parent PLUS Loan Improvement Act of 2016 This bill amends title IV (Student Assistance) of the Higher Education Act of 1965 to modify the applicable terms and conditions with respect to Federal Direct PLUS Loans to parent borrowers (i.e., parent PLUS loans). Specifically, it reduces the interest rate and eliminates the origination fee for a parent PLUS loan disbursed on or after July 1, 2016. The Department of Education must ensure, prior to disbursement, that a parent PLUS loan borrower receives counseling that includes comprehensive information on the terms, conditions, and responsibilities with respect to the loan. The bill makes a parent PLUS loan eligible for the income-contingent and income-based repayment plans. Additionally, it makes a consolidation loan that repays parent PLUS loan eligible for the income-based repayment plan.

Parent PLUS Loan Improvement Act of 2016

Rep. Marcia Fudge [D-OH]	Rep. Ruben Hinojosa [D-TX]	Rep. Corrine Brown [D-FL]	Rep. Stacey Plaskett [D-VI]
Rep. Frederica Wilson [D-FL]	Rep. Marc Veasey [D-TX]	Rep. Mike Thompson [D-CA]	Rep. Cedric Richmond [D-LA]
Rep. Joe Courtney [D-CT]	Rep. Mark Takano [D-CA]

Date	Chamber	Action
2016-09-19	House	Referred to the Subcommittee on Higher Education and Workforce Training.
2016-03-02	House	Referred to the House Committee on Education and the Workforce.
2016-03-02	House	Introduced in House

Type	Source
Summary	https://www.congress.gov/bill/114th-congress/house-bill/4661/all-info
Text	https://www.congress.gov/114/bills/hr4661/BILLS-114hr4661ih.pdf