US Congress House Bill 7625 (Prior Session Legislation)

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Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on July 16 2020 - 25% progression, died in committee
Action: 2020-07-16 - Referred to the House Committee on Financial Services.
Pending: House Financial Services Committee
Text: Latest bill text (Introduced) [PDF]

Retroactively applies certain borrower protections related to cosigners of private student loans. Specifically, all private student loan agreements must (1) prohibit a creditor from declaring a default or accelerating the debt of a private student loan on the sole basis of the death or bankruptcy of a cosigner to such a loan, and (2) require loan holders to release cosigners from any obligation upon the death of the student borrower. Under current law, these protections apply only to private student loan agreements entered into on or after November 20, 2018.

Ryan Frascone Memorial Student Loan Relief Act of 2020

Rep. Angela Craig [D-MN]

Date	Chamber	Action
2020-07-16	House	Referred to the House Committee on Financial Services.
2020-07-16	House	Introduced in House

Type	Source
Summary	https://www.congress.gov/bill/116th-congress/house-bill/7625/all-info
Text	https://www.congress.gov/116/bills/hr7625/BILLS-116hr7625ih.pdf