US Congress House Bill 6510 (Prior Session Legislation)

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Spectrum: Partisan Bill (Democrat 3-0)
Status: Introduced on September 21 2012 - 25% progression, died in committee
Action: 2012-09-21 - Referred to the House Committee on Education and the Workforce.
Pending: House Education And The Workforce Committee
Text: Latest bill text (Introduced) [PDF]

Student Loan Prepayment Standardization Act - Amends title IV (Student Assistance) of the Higher Education Act of 1965 to require that when the holder of a borrower's private education loans or loans made under the Federal Family Education Loan (FFEL) or Direct Loan (DL) programs receives a prepayment for such loans, it is to be applied first toward any fees due on such loans and then, unless the borrower requests otherwise, toward the interest and principal due on the loan with the highest interest rate. Makes that requirement inapplicable to income-based repayment plans for FFELs or DLs.

Student Loan Prepayment Standardization Act

Rep. Theodore Deutch [D-FL]

Rep. Robert Andrews [D-NJ]

Rep. Kathy Castor [D-FL]

Date	Chamber	Action
2012-09-21	House	Referred to the House Committee on Education and the Workforce.

Type	Source
Summary	https://www.congress.gov/bill/112th-congress/house-bill/6510/all-info
Text	https://www.congress.gov/112/bills/hr6510/BILLS-112hr6510ih.pdf