To establish student loan borrowers' rights to basic consumer protections, reasonable and flexible repayment options, access to earned credentials, and effective loan cancellation in exchange for public service, and for other purposes.
Student Loan Borrowers' Bill of Rights Act of 2013 - Removes educational loans from the list of debts that are non-dischargeable in bankruptcy.
Amends title IV (Student Assistance) of the Higher Education Act of 1965 (HEA) to reinstate the six-year statute of limitations on the recovery by:
Prohibits the collection of amounts individuals owe the Department of Education under title IV of the HEA through: (1) offsets of social security, railroad retirement, or black lung benefits; (2) offsets of tax refunds; or (3) wage garnishment.
Amends the Internal Revenue Code to exclude discharged student loan debt from an individual's gross income.
Excludes from gross income distributions from qualified tuition plans that are use to pay the interest or principal on student loans.
Amends the HEA to make borrowers of PLUS loans made on behalf of dependent students under:
Specifies the regulation to be used in determining whether individuals have an adverse credit history that disqualifies them from borrowing a Direct Plus loan (provided to graduate or professional students or the parents of dependent students).
Prohibits evidence of an individual's default on a loan made, insured, or guaranteed under title IV of the HEA from being used in a federal or state proceeding involving the individual's professional or vocational license.
Prohibits an IHE from blocking students' access to their student records at the IHE due to such students being in default on such loans.
Directs the Secretary to cancel 50% of the balance of the interest and principal due on Direct loans that are not in default for borrowers who are employed in a public service job and make 60 monthly payments on such loans after October 1, 2013.
Introduced in House
Introduced in House
Referred to the Committee on Education and the Workforce, and in addition to the Committees on Ways and Means, the Judiciary, and Oversight and Government Reform, 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.
Referred to the Committee on Education and the Workforce, and in addition to the Committees on Ways and Means, the Judiciary, and Oversight and Government Reform, 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.
Referred to the Committee on Education and the Workforce, and in addition to the Committees on Ways and Means, the Judiciary, and Oversight and Government Reform, 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.
Referred to the Committee on Education and the Workforce, and in addition to the Committees on Ways and Means, the Judiciary, and Oversight and Government Reform, 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.
Referred to the Subcommittee on Regulatory Reform, Commercial And Antitrust Law.
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