US Congress Senate Bill 968 (Prior Session Legislation)

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Spectrum: Partisan Bill (Democrat 4-0)
Status: Introduced on April 1 2019 - 25% progression, died in committee
Action: 2019-04-01 - Read twice and referred to the Committee on Health, Education, Labor, and Pensions. (Sponsor introductory remarks on measure: CR S2120-2121)
Pending: Senate Health, Education, Labor, And Pensions Committee
Text: Latest bill text (Introduced) [PDF]

Requires institutions of higher education (IHEs) to assume some of the risk of default for federal student loans. IHEs must remit risk-sharing payments, based on the amount of defaulted student loans, if 33% or more of their enrolled students have student loans. The Department of Education may reduce or waive the payments under certain circumstances. The proceeds from the payments must be used for reducing student loan debt, delinquency, or default and increasing Pell grants at IHEs with low default rates that enroll a high percentage of Pell Grant recipients.

Protect Student Borrowers Act of 2019

Sen. Jack Reed [D-RI]

Sen. Richard Durbin [D-IL]

Sen. Elizabeth Warren [D-MA]

Sen. Christopher Murphy [D-CT]

Date	Chamber	Action
2019-04-01	Senate	Read twice and referred to the Committee on Health, Education, Labor, and Pensions. (Sponsor introductory remarks on measure: CR S2120-2121)

Type	Source
Summary	https://www.congress.gov/bill/116th-congress/senate-bill/968/all-info
Text	https://www.congress.gov/116/bills/s968/BILLS-116s968is.pdf