A bill to amend the Higher Education Act of 1965 to permit a Federal student loan borrower to elect to terminate repayment pursuant to income-based repayment and repay such loan under any other repayment plan for which the borrower is otherwise eligible.
Student Loan Repayment Freedom Act
This bill allows a federal student loan borrower to terminate repayment under an income-based repayment plan and instead elect to repay such loan under any other repayment plan for which the borrower is eligible. Currently, a federal student loan borrower repaying under an income-based repayment plan may only change to the standard repayment plan.
Referred to the Subcommittee on Antitrust, Commercial, and Administrative Law.
Introduced in Senate
Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
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